Needham Investment Management LLC Sells 287,500 Shares of Mativ Holdings, Inc. $MATV

Key Points

• Needham Investment Management LLC has significantly reduced its stake in Mativ Holdings, Inc. by selling 287,500 shares, which represents a 65.0% decrease, leaving them with 155,000 shares valued at approximately $966,000.
• Mativ Holdings reported earnings of $0.33 per share, surpassing the consensus estimate of $0.18, with revenues of $525.40 million against an expected $505.00 million for the quarter.
• Several hedge funds have increased their investments in Mativ, with institutional investors now owning about 94.95% of the company's stock, highlighting notable confidence in the company's future performance.

Needham Investment Management LLC trimmed its position in shares of Mativ Holdings, Inc. (NYSE:MATV - Free Report) by 65.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 155,000 shares of the company's stock after selling 287,500 shares during the period. Needham Investment Management LLC owned approximately 0.28% of Mativ worth $966,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Allspring Global Investments Holdings LLC boosted its stake in shares of Mativ by 5.6% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,131,328 shares of the company's stock valued at $25,986,000 after buying an additional 217,691 shares during the last quarter. Invenomic Capital Management LP bought a new stake in Mativ in the first quarter valued at $13,841,000. American Century Companies Inc. increased its holdings in shares of Mativ by 3.8% during 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. Millennium Management LLC boosted its holdings in shares of Mativ by 1,978.4% in the first quarter. Millennium Management LLC now owns 996,673 shares of the company's stock valued at $6,209,000 after acquiring an additional 948,720 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings 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 acquiring an additional 64,265 shares in the last quarter. Institutional investors and hedge funds own 94.95% of the company's stock.

Mativ Stock Down 1.5%

Shares of NYSE:MATV traded down $0.18 during trading on Tuesday, hitting $12.25. 559,211 shares of the company's stock traded hands, compared to its average volume of 705,118. The company has a market cap of $669.49 million, a price-to-earnings ratio of 27.62 and a beta of 0.83. Mativ Holdings, Inc. has a 52 week low of $4.34 and a 52 week high of $19.96. The company has a 50-day moving average price of $9.36 and a 200-day moving average price of $7.14. The company has a current ratio of 2.37, a quick ratio of 1.21 and a debt-to-equity ratio of 2.65.

Mativ (NYSE:MATV - Get Free Report) last released 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. Mativ had a positive return on equity of 4.12% and a negative net margin of 23.09%.The company had revenue of $525.40 million for the quarter, compared to analyst estimates of $505.00 million. As a group, research analysts forecast that Mativ Holdings, Inc. will post 1.15 EPS for the current fiscal year.

Mativ Announces Dividend

The business also recently declared 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 annualized dividend and a yield of 3.3%. The ex-dividend date is Friday, August 29th. Mativ's dividend payout ratio (DPR) is presently -4.79%.

Analyst Ratings Changes

Several research firms have weighed in on MATV. Zacks Research raised Mativ to a "strong-buy" rating in a research note on Monday, August 11th. Wall Street Zen upgraded Mativ from a "hold" rating to a "buy" rating in a research note 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's stock. Based on data from MarketBeat.com, the company 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.