Vanguard Group Inc. Sells 1,808,824 Shares of Mativ Holdings, Inc. $MATV

Key Points

• Vanguard Group Inc. reduced its holdings in Mativ Holdings, Inc. by 34.0%, selling over 1.8 million shares, which leaves them with a total of 3,507,650 shares valued at approximately $21.85 million.
• Mativ's recent earnings report revealed an EPS of $0.33, significantly exceeding analysts' expectations of $0.18, and the company also reported $525.40 million in revenue for the quarter.
• The firm announced a quarterly dividend of $0.10 per share, translating to an annualized yield of 3.2%, with the payment set for September 26th.

Vanguard Group Inc. trimmed its stake in shares of Mativ Holdings, Inc. (NYSE:MATV - Free Report) by 34.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,507,650 shares of the company's stock after selling 1,808,824 shares during the quarter. Vanguard Group Inc. owned 6.43% of Mativ worth $21,853,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its holdings in Mativ by 119.7% during the first quarter. GAMMA Investing LLC now owns 4,462 shares of the company's stock valued at $28,000 after purchasing an additional 2,431 shares in the last quarter. CWM LLC boosted its holdings in Mativ by 707.7% during the first quarter. CWM LLC now owns 4,701 shares of the company's stock valued at $29,000 after purchasing an additional 4,119 shares in the last quarter. US Bancorp DE boosted its holdings in Mativ by 204.2% during the first quarter. US Bancorp DE now owns 5,677 shares of the company's stock valued at $35,000 after purchasing an additional 3,811 shares in the last quarter. QRG Capital Management Inc. acquired a new position in shares of Mativ in the 1st quarter worth approximately $64,000. Finally, Sherbrooke Park Advisers LLC acquired a new position in shares of Mativ in the 4th quarter worth approximately $145,000. 94.95% of the stock is owned by institutional investors and hedge funds.

Mativ Trading Down 3.7%

Shares of Mativ stock traded down $0.46 on Wednesday, hitting $12.00. 150,554 shares of the company's stock traded hands, compared to its average volume of 794,563. The firm's 50-day moving average price is $8.82 and its two-hundred day moving average price is $7.00. The stock has a market capitalization of $655.77 million, a PE ratio of -1.43 and a beta of 0.83. Mativ Holdings, Inc. has a one year low of $4.34 and a one year 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.

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

Mativ Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, August 29th will be given a $0.10 dividend. The ex-dividend date is Friday, August 29th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.3%. Mativ's dividend payout ratio is currently -4.79%.

Analysts Set New Price Targets

Several brokerages have recently commented on MATV. Zacks Research raised Mativ to a "strong-buy" rating in a report on Monday, August 11th. Wall Street Zen raised Mativ from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating and one has issued a Buy rating to the company. According to data from MarketBeat.com, Mativ presently has a consensus rating of "Strong Buy" and an average target price of $10.00.

Mativ Company Profile

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.