Readystate Asset Management LP Makes New Investment in Mativ Holdings, Inc. (NYSE:MATV)

Readystate Asset Management LP acquired a new position in shares of Mativ Holdings, Inc. (NYSE:MATV - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 45,299 shares of the company's stock, valued at approximately $282,000. Readystate Asset Management LP owned approximately 0.08% of Mativ at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. GAMMA Investing LLC lifted its position in Mativ by 119.7% in the 1st quarter. GAMMA Investing LLC now owns 4,462 shares of the company's stock valued at $28,000 after acquiring an additional 2,431 shares in the last quarter. CWM LLC lifted its position in shares of Mativ by 707.7% during the 1st quarter. CWM LLC now owns 4,701 shares of the company's stock worth $29,000 after buying an additional 4,119 shares in the last quarter. Federated Hermes Inc. bought a new position in shares of Mativ during the 4th quarter worth approximately $33,000. QRG Capital Management Inc. bought a new position in shares of Mativ during the 1st quarter worth approximately $64,000. Finally, Quantbot Technologies LP bought a new position in shares of Mativ during the 4th quarter worth approximately $122,000. Institutional investors own 94.95% of the company's stock.

Mativ Stock Performance

Shares of MATV stock traded up $0.04 during trading hours on Friday, hitting $7.55. 371,600 shares of the company were exchanged, compared to its average volume of 589,996. The firm has a fifty day simple moving average of $6.73 and a 200 day simple moving average of $6.90. The company has a current ratio of 2.38, a quick ratio of 1.18 and a debt-to-equity ratio of 2.65. Mativ Holdings, Inc. has a 52-week low of $4.34 and a 52-week high of $19.96. The stock has a market capitalization of $411.61 million, a price-to-earnings ratio of -0.92, a P/E/G ratio of 2.24 and a beta of 0.72.

Mativ (NYSE:MATV - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The company reported ($0.14) earnings per share for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.03). Mativ had a negative net margin of 22.70% and a positive return on equity of 3.53%. The business had revenue of $484.80 million during the quarter, compared to analysts' expectations of $470.30 million. Research analysts predict that Mativ Holdings, Inc. will post 1.15 earnings per share for the current fiscal year.

Mativ Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, May 23rd were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 5.30%. Mativ's dividend payout ratio (DPR) is currently -4.88%.

Insiders Place Their Bets

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

About Mativ

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.