Invenomic Capital Management LP Purchases Shares of 2,221,597 Mativ Holdings, Inc. $MATV

Key Points

• Invenomic Capital Management LP has purchased 2,221,597 shares of Mativ Holdings, Inc. (NYSE: MATV) valued at approximately $13.8 million, representing about 4.07% ownership of the company.
• Mativ recently announced a quarterly dividend of $0.10 per share, resulting in an annualized yield of 3.3%, with the ex-dividend date set for August 29th.
• Analysts have upgraded Mativ's stock rating, now holding a consensus rating of Strong Buy and an average price target of $10.00.

Invenomic Capital Management LP purchased a new stake in shares of Mativ Holdings, Inc. (NYSE:MATV - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 2,221,597 shares of the company's stock, valued at approximately $13,841,000. Invenomic Capital Management LP owned about 4.07% of Mativ at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in MATV. Allspring Global Investments Holdings LLC boosted its stake in shares of Mativ by 5.6% in the first quarter. Allspring Global Investments Holdings LLC now owns 4,131,328 shares of the company's stock valued at $25,986,000 after purchasing an additional 217,691 shares during the period. American Century Companies Inc. boosted its stake in shares of Mativ by 3.8% in the first quarter. American Century Companies Inc. now owns 1,564,695 shares of the company's stock valued at $9,748,000 after purchasing an additional 57,277 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Mativ by 9.4% in the first quarter. Charles Schwab Investment Management Inc. now owns 751,405 shares of the company's stock valued at $4,681,000 after purchasing an additional 64,265 shares during the period. Northern Trust Corp boosted its stake in shares of Mativ by 3.3% in the fourth quarter. Northern Trust Corp now owns 585,754 shares of the company's stock valued at $6,385,000 after purchasing an additional 18,962 shares during the period. Finally, Bridgeway Capital Management LLC boosted its stake in shares of Mativ by 39.2% in the fourth quarter. Bridgeway Capital Management LLC now owns 541,432 shares of the company's stock valued at $5,902,000 after purchasing an additional 152,383 shares during the period. 94.95% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Mativ Price Performance

NYSE:MATV opened at $12.05 on Friday. The firm has a market cap of $658.77 million, a price-to-earnings ratio of -1.44 and a beta of 0.83. The company has a current ratio of 2.37, a quick ratio of 1.21 and a debt-to-equity ratio of 2.65. The company's 50-day moving average is $9.04 and its two-hundred day moving average is $7.06. Mativ Holdings, Inc. has a 12-month low of $4.34 and a 12-month high of $19.96.

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

Mativ Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors 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 yield of 3.3%. The ex-dividend date of this dividend is Friday, August 29th. Mativ's dividend payout ratio is -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.

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