Wolverine Asset Management LLC Purchases 47,276 Shares of Mativ Holdings, Inc. (NYSE:MATV)

Key Points

• Wolverine Asset Management LLC increased its stake in Mativ Holdings by 59.4%, acquiring an additional 47,276 shares in the first quarter, bringing its total ownership to 126,862 shares valued at $790,000.
• Mativ Holdings reported an earnings per share (EPS) of $0.33 for the last quarter, exceeding analysts' expectations of $0.18, with revenue also surpassing estimates at $525.40 million.
• The company announced a quarterly dividend of $0.10 per share, providing a yield of 4.3%, with the payment scheduled for September 26th.

Wolverine Asset Management LLC boosted its position in Mativ Holdings, Inc. (NYSE:MATV - Free Report) by 59.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 126,862 shares of the company's stock after buying an additional 47,276 shares during the period. Wolverine Asset Management LLC owned approximately 0.23% of Mativ worth $790,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Invesco Ltd. increased its stake in shares of Mativ by 62.8% in the 4th quarter. Invesco Ltd. now owns 943,771 shares of the company's stock worth $10,287,000 after acquiring an additional 364,117 shares during the last quarter. D. E. Shaw & Co. Inc. increased its stake in shares of Mativ by 85.9% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 504,422 shares of the company's stock worth $5,498,000 after acquiring an additional 233,125 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Mativ by 5.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,131,328 shares of the company's stock worth $25,986,000 after acquiring an additional 217,691 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of Mativ during the 1st quarter worth $1,073,000. Finally, Tudor Investment Corp ET AL purchased a new position in shares of Mativ during the 4th quarter worth $1,864,000. Hedge funds and other institutional investors own 94.95% of the company's stock.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded Mativ from a "hold" rating to a "buy" rating in a report on Saturday, August 9th.

Insider Activity at Mativ

In related news, Director Kimberly E. Ritrievi acquired 10,000 shares of Mativ stock in a transaction that occurred on Thursday, May 29th. The stock was acquired at an average price of $5.88 per share, for a total transaction of $58,800.00. Following the transaction, the director directly owned 30,640 shares of the company's stock, valued at $180,163.20. This trade represents a 48.45% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Shruti Singhal acquired 40,000 shares of the company's stock in a transaction dated Thursday, May 29th. The stock was purchased at an average cost of $5.76 per share, for a total transaction of $230,400.00. Following the purchase, the chief executive officer directly owned 56,533 shares in the company, valued at approximately $325,630.08. This represents a 241.94% increase in their position. The disclosure for this purchase can be found here. 2.01% of the stock is currently owned by company insiders.

Mativ Stock Performance

Shares of MATV stock traded up $0.30 during midday trading on Thursday, hitting $11.46. The company had a trading volume of 939,805 shares, compared to its average volume of 718,595. The company's 50 day simple moving average is $7.35 and its 200 day simple moving average is $6.75. Mativ Holdings, Inc. has a 52-week low of $4.34 and a 52-week high of $19.96. The stock has a market cap of $626.41 million, a price-to-earnings ratio of -1.37 and a beta of 0.73. 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 posted its earnings results on Wednesday, August 6th. The company reported $0.33 EPS for the quarter, topping analysts' consensus estimates of $0.18 by $0.15. The company had revenue of $525.40 million for the quarter, compared to the consensus estimate of $505.00 million. Mativ had a positive return on equity of 4.12% and a negative net margin of 23.09%. Research analysts anticipate that Mativ Holdings, Inc. will post 1.15 earnings per share for the current fiscal year.

Mativ Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Stockholders 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 annualized dividend and a dividend yield of 3.5%. Mativ's dividend payout ratio (DPR) is presently -4.79%.

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.