Rhumbline Advisers Decreases Stock Position in Mativ Holdings, Inc. (NYSE:MATV)

Rhumbline Advisers reduced its stake in Mativ Holdings, Inc. (NYSE:MATV - Free Report) by 51.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 82,688 shares of the company's stock after selling 87,288 shares during the period. Rhumbline Advisers owned approximately 0.15% of Mativ worth $515,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. GAMMA Investing LLC boosted its stake in Mativ by 1,268.7% during the first quarter. GAMMA Investing LLC now owns 27,798 shares of the company's stock valued at $173,000 after buying an additional 25,767 shares during the period. Mackenzie Financial Corp bought a new stake in Mativ during the fourth quarter valued at $469,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Mativ by 24.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 94,747 shares of the company's stock valued at $1,033,000 after buying an additional 18,531 shares during the period. Squarepoint Ops LLC boosted its stake in Mativ by 477.1% during the fourth quarter. Squarepoint Ops LLC now owns 68,542 shares of the company's stock valued at $747,000 after buying an additional 56,665 shares during the period. Finally, Sherbrooke Park Advisers LLC bought a new stake in Mativ during the fourth quarter valued at $145,000. 94.95% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Stifel Nicolaus raised Mativ from a "hold" rating to a "buy" rating and dropped their price objective for the company from $15.50 to $10.00 in a research note on Monday, March 24th.

Mativ Price Performance

NYSE MATV traded up $0.18 during trading hours on Thursday, reaching $6.68. 492,147 shares of the stock traded hands, compared to its average volume of 616,307. The stock has a 50 day simple moving average of $5.89 and a two-hundred day simple moving average of $7.47. Mativ Holdings, Inc. has a 1 year low of $4.34 and a 1 year high of $19.96. The company has a debt-to-equity ratio of 2.65, a current ratio of 2.38 and a quick ratio of 1.18. The company has a market cap of $364.03 million, a price-to-earnings ratio of -0.81, a price-to-earnings-growth ratio of 1.93 and a beta of 0.68.

Mativ (NYSE:MATV - Get Free Report) last released its quarterly earnings results 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 firm had revenue of $484.80 million for the quarter, compared to analysts' expectations of $470.30 million. On average, analysts predict that Mativ Holdings, Inc. will post 1.15 EPS for the current fiscal year.

Mativ Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, May 23rd will be given a dividend of $0.10 per share. The ex-dividend date is Friday, May 23rd. This represents a $0.40 dividend on an annualized basis and a yield of 5.99%. Mativ's payout ratio is -4.88%.

Insider Buying and Selling at Mativ

In related news, Director Kimberly E. Ritrievi acquired 10,000 shares of the firm's stock in a transaction dated Thursday, May 29th. The shares were purchased at an average price of $5.88 per share, for a total transaction of $58,800.00. Following the completion of the acquisition, the director now owns 30,640 shares in the company, valued at approximately $180,163.20. This represents a 48.45% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, CEO Shruti Singhal acquired 40,000 shares of the firm's stock in a transaction dated Thursday, May 29th. The stock was bought at an average price of $5.76 per share, for a total transaction of $230,400.00. Following the acquisition, the chief executive officer now owns 56,533 shares of the company's stock, valued at approximately $325,630.08. This trade represents a 241.94% increase in their position. The disclosure for this purchase can be found here. Company insiders own 2.01% of the company's stock.

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.