Engineers Gate Manager LP Lowers Position in Mativ Holdings, Inc. $MATV

Key Points

• Engineers Gate Manager LP cut its Mativ Holdings position by 85.8% in the second quarter, leaving it with 29,028 shares valued at approximately $220,000. Institutional investors and hedge funds collectively own 94.95% of Mativ.
• Mativ reported quarterly earnings of $0.50 per share, surpassing the $0.28 analyst consensus, while revenue of $531.8 million also exceeded estimates. Analysts currently maintain a consensus “Hold” rating.
• Mativ pays a quarterly dividend of $0.10, equivalent to $0.40 annually and a 3.4% yield. Shares recently traded at $11.92, within a 52-week range of $7.07 to $15.48.

Engineers Gate Manager LP lowered its holdings in shares of Mativ Holdings, Inc. (NYSE:MATV - Free Report) by 85.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,028 shares of the company's stock after selling 175,156 shares during the period. Engineers Gate Manager LP owned about 0.05% of Mativ worth $220,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in MATV. NewEdge Advisors LLC lifted its position in shares of Mativ by 84.1% during the 2nd quarter. NewEdge Advisors LLC now owns 36,378 shares of the company's stock worth $275,000 after buying an additional 16,613 shares during the period. Empowered Funds LLC bought a new stake in Mativ in the second quarter valued at $2,134,000. Public Employees Retirement System of Ohio acquired a new position in Mativ during the second quarter worth $557,000. Bank of America Corp DE acquired a new position in Mativ during the second quarter worth $3,831,000. Finally, Man Group plc bought a new position in shares of Mativ during the second quarter valued at $1,539,000. 94.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Wall Street Zen raised shares of Mativ from a "buy" rating to a "strong-buy" rating in a report on Monday, August 10th. Weiss Ratings upgraded shares of Mativ from a "sell (d+)" rating to a "hold (c)" rating in a research note on Friday, August 21st. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat, Mativ currently has a consensus rating of "Hold".

Mativ Price Performance

Mativ stock opened at $11.92 on Monday. The company's 50 day simple moving average is $11.29 and its 200 day simple moving average is $9.46. Mativ Holdings, Inc. has a fifty-two week low of $7.07 and a fifty-two week high of $15.48. The firm has a market capitalization of $657.03 million, a price-to-earnings ratio of 7.54 and a beta of 0.93. The company has a debt-to-equity ratio of 2.09, a current ratio of 1.98 and a quick ratio of 0.95.

Mativ (NYSE:MATV - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.50 EPS for the quarter, topping analysts' consensus estimates of $0.28 by $0.22. The company had revenue of $531.80 million for the quarter, compared to analyst estimates of $508.50 million. Mativ had a return on equity of 13.53% and a net margin of 4.50%. As a group, sell-side analysts anticipate that Mativ Holdings, Inc. will post 0.97 EPS for the current year.

Mativ Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Stockholders of record on Friday, August 28th were issued a $0.10 dividend. The ex-dividend date was Friday, August 28th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.4%. Mativ's dividend payout ratio (DPR) is 25.32%.

Mativ Profile

Mativ Holdings, Inc is a global specialty materials company that develops and manufactures engineered solutions for industrial, healthcare, consumer, and other end markets. Its products are designed to provide properties such as filtration, protection, separation, absorbency, strength, and surface performance.

The company's offerings include filtration media, engineered papers, nonwoven materials, airlaid materials, release liners, protective materials, and specialty substrates. These products are used in applications such as air and liquid filtration, medical and healthcare products, food and beverage packaging, personal care, construction, and other technical and consumer products.

Mativ was formed in 2022 through the combination of Neenah, Inc and Schweitzer-Mauduit International, Inc The company serves customers through manufacturing and commercial operations in North America, Europe, Asia, and other international markets.

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