Cubist Systematic Strategies LLC Buys 102,376 Shares of Mativ Holdings, Inc. $MATV

Key Points

• Cubist Systematic Strategies LLC significantly increased its stake in Mativ Holdings, purchasing an additional 102,376 shares, bringing its total ownership to 223,364 shares, valued at approximately $1.39 million.
• Mativ reported a quarterly profit of $0.33 earnings per share, exceeding analysts' expectations of $0.18, with revenue surpassing estimates at $525.4 million.
• The company declared a quarterly dividend of $0.10 per share, representing an annualized yield of 3.2%, with the payment scheduled for September 26th.

Cubist Systematic Strategies LLC increased its stake in Mativ Holdings, Inc. (NYSE:MATV - Free Report) by 84.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 223,364 shares of the company's stock after purchasing an additional 102,376 shares during the period. Cubist Systematic Strategies LLC owned approximately 0.41% of Mativ worth $1,392,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. GAMMA Investing LLC increased its position in shares of Mativ by 119.7% in the first quarter. GAMMA Investing LLC now owns 4,462 shares of the company's stock worth $28,000 after purchasing an additional 2,431 shares during the period. CWM LLC grew its position in Mativ by 707.7% in the first quarter. CWM LLC now owns 4,701 shares of the company's stock valued at $29,000 after acquiring an additional 4,119 shares during the last quarter. US Bancorp DE grew its position in Mativ by 204.2% in the first quarter. US Bancorp DE now owns 5,677 shares of the company's stock valued at $35,000 after acquiring an additional 3,811 shares during the last quarter. QRG Capital Management Inc. bought a new position in Mativ in the first quarter valued at about $64,000. Finally, FORA Capital LLC bought a new position in Mativ in the first quarter valued at about $68,000. Institutional investors own 94.95% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on MATV shares. Zacks Research upgraded Mativ to a "strong-buy" rating in a research report on Monday, August 11th. Wall Street Zen upgraded Mativ from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Strong Buy" and a consensus price target of $10.00.

Mativ Trading Down 1.0%

Shares of Mativ stock traded down $0.13 during midday trading on Friday, reaching $12.32. The company had a trading volume of 228,908 shares, compared to its average volume of 617,530. Mativ Holdings, Inc. has a fifty-two week low of $4.34 and a fifty-two week high of $19.96. The company has a debt-to-equity ratio of 2.65, a current ratio of 2.37 and a quick ratio of 1.21. The stock has a fifty day moving average price of $9.65 and a 200 day moving average price of $7.25. The firm has a market cap of $673.26 million, a PE ratio of -1.47 and a beta of 0.83.

Mativ (NYSE:MATV - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.15. The firm had revenue of $525.40 million for the quarter, compared to analyst estimates of $505.00 million. Mativ had a positive return on equity of 4.12% and a negative net margin of 23.09%. On average, equities analysts anticipate that Mativ Holdings, Inc. will post 1.15 earnings per share for the current year.

Mativ Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, August 29th will be given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, August 29th. Mativ's dividend payout ratio is presently -4.79%.

About Mativ

Mativ Holdings, Inc, together with its subsidiaries, manufactures and sells specialty materials in the United States, Europe, the Asia Pacific, the Americas, and internationally. The company operates through two segments, Advanced Technical Materials and Fiber-Based Solutions. The Advanced Technical Materials manufactures and sells various engineered polymer, resin and fiber-based substrates, nets, films, adhesive tapes, and other nonwovens for the filtration, protective solutions, release liners, and healthcare end-markets.