Mativ Holdings, Inc. $MATV Shares Sold by Squarepoint Ops LLC

Key Points

• Squarepoint Ops LLC cut its Mativ Holdings position by 48% in the second quarter, selling 114,117 shares and retaining 123,499 shares worth approximately $935,000.
• Several institutional investors initiated positions in Mativ, while hedge funds and other institutions collectively owned 94.95% of the company at the latest reporting period.
• Mativ reported quarterly EPS of $0.50, exceeding estimates of $0.28, and revenue of $531.8 million. The company also declared a quarterly dividend of $0.10 per share, representing a 3.3% annualized yield.

Squarepoint Ops LLC reduced its position in Mativ Holdings, Inc. (NYSE:MATV - Free Report) by 48.0% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 123,499 shares of the company's stock after selling 114,117 shares during the period. Squarepoint Ops LLC owned about 0.22% of Mativ worth $935,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Empowered Funds LLC acquired a new stake in Mativ in the 2nd quarter worth about $2,134,000. Public Employees Retirement System of Ohio purchased a new stake in Mativ in the second quarter valued at approximately $557,000. Bank of America Corp DE acquired a new position in Mativ during the second quarter worth approximately $3,831,000. Man Group plc purchased a new position in Mativ during the second quarter worth approximately $1,539,000. Finally, PDT Partners LLC acquired a new position in shares of Mativ in the 2nd quarter valued at $1,530,000. Hedge funds and other institutional investors own 94.95% of the company's stock.

Mativ Stock Performance

Shares of NYSE:MATV opened at $12.11 on Friday. The business's 50-day simple moving average is $10.78 and its 200 day simple moving average is $9.37. The company has a market cap of $667.23 million, a P/E ratio of 7.66 and a beta of 0.93. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.95 and a current ratio of 1.98. Mativ Holdings, Inc. has a one year low of $7.07 and a one year high of $15.48.

Mativ (NYSE:MATV - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.22. The company had revenue of $531.80 million during the quarter, compared to the consensus estimate of $508.50 million. Mativ had a net margin of 4.50% and a return on equity of 13.53%. On average, sell-side analysts forecast that Mativ Holdings, Inc. will post 0.97 earnings per share for the current fiscal year.

Mativ Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, August 28th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, August 28th. This represents a $0.40 annualized dividend and a yield of 3.3%. Mativ's payout ratio is 25.32%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on MATV. Weiss Ratings upgraded Mativ from a "sell (d+)" rating to a "hold (c)" rating in a report on Friday, August 21st. Wall Street Zen raised shares of Mativ from a "buy" rating to a "strong-buy" rating in a research report on Monday, August 10th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company currently has an average rating of "Hold".

About Mativ

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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