Wellington Management Group LLP Trims Stock Holdings in Mativ Holdings, Inc. $MATV

Key Points

• Wellington Management Group LLP reduced its stake in Mativ Holdings, Inc. by 56.1%, currently owning 939,970 shares worth approximately $5.86 million after selling over 1.2 million shares in the first quarter.
• Several hedge funds have increased their positions in Mativ, with GAMMA Investing LLC growing its stake by 119.7% and US Bancorp DE raising its position by 204.2% in the same period.
• Mativ recently declared a quarterly dividend of $0.10 per share, with a yield of 3.2% and a negative dividend payout ratio of -4.79%.

Wellington Management Group LLP decreased its position in Mativ Holdings, Inc. (NYSE:MATV - Free Report) by 56.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 939,970 shares of the company's stock after selling 1,200,866 shares during the period. Wellington Management Group LLP owned approximately 1.72% of Mativ worth $5,856,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. American Century Companies Inc. increased its holdings in Mativ by 3.8% in the 1st quarter. American Century Companies Inc. now owns 1,564,695 shares of the company's stock worth $9,748,000 after buying an additional 57,277 shares in the last quarter. Fox Run Management L.L.C. bought a new stake in Mativ in the 1st quarter worth about $122,000. Nuveen LLC bought a new stake in Mativ in the 1st quarter worth about $1,121,000. Wolverine Asset Management LLC increased its holdings in Mativ by 59.4% in the 1st quarter. Wolverine Asset Management LLC now owns 126,862 shares of the company's stock worth $790,000 after buying an additional 47,276 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Mativ by 9.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 751,405 shares of the company's stock worth $4,681,000 after buying an additional 64,265 shares in the last quarter. 94.95% of the stock is currently owned by institutional investors.

Mativ Stock Performance

NYSE:MATV traded down $0.27 on Wednesday, hitting $12.18. The stock had a trading volume of 480,658 shares, compared to its average volume of 820,201. The stock has a market cap of $666.04 million, a price-to-earnings ratio of -1.46 and a beta of 0.83. The company has a quick ratio of 1.21, a current ratio of 2.37 and a debt-to-equity ratio of 2.65. The business's 50-day simple moving average is $8.93 and its two-hundred day simple moving average is $7.04. Mativ Holdings, Inc. has a 52-week low of $4.34 and a 52-week high of $19.96.

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

Mativ Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders 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 yield of 3.3%. Mativ's dividend payout ratio is presently -4.79%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on MATV. Zacks Research upgraded Mativ to a "strong-buy" rating in a report on Monday, August 11th. Wall Street Zen upgraded 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 given a Buy rating to the stock. According to data from MarketBeat, Mativ presently has a consensus rating of "Strong Buy" and an average target price of $10.00.

Mativ 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.