Rhumbline Advisers Has $515,000 Stock Holdings in Mativ Holdings, Inc. (NYSE:MATV)

Rhumbline Advisers cut its stake in shares of Mativ Holdings, Inc. (NYSE:MATV - Free Report) by 51.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 82,688 shares of the company's stock after selling 87,288 shares during the period. Rhumbline Advisers owned 0.15% of Mativ worth $515,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. American Century Companies Inc. boosted its position in Mativ by 20.2% during the fourth quarter. American Century Companies Inc. now owns 1,507,418 shares of the company's stock valued at $16,431,000 after purchasing an additional 253,365 shares during the last quarter. Geode Capital Management LLC boosted its position in Mativ by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 1,247,900 shares of the company's stock valued at $13,606,000 after purchasing an additional 4,386 shares during the last quarter. Royce & Associates LP boosted its position in Mativ by 26.1% during the fourth quarter. Royce & Associates LP now owns 1,090,774 shares of the company's stock valued at $11,889,000 after purchasing an additional 226,090 shares during the last quarter. Invesco Ltd. boosted its position in Mativ by 62.8% during the fourth quarter. Invesco Ltd. now owns 943,771 shares of the company's stock valued at $10,287,000 after purchasing an additional 364,117 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Mativ by 44.2% during the fourth quarter. Bank of New York Mellon Corp now owns 613,444 shares of the company's stock valued at $6,687,000 after purchasing an additional 187,970 shares during the last quarter. 94.95% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Mativ Price Performance

NYSE:MATV opened at $6.47 on Monday. The company has a quick ratio of 1.18, a current ratio of 2.38 and a debt-to-equity ratio of 2.65. The stock's 50 day moving average price is $5.74 and its two-hundred day moving average price is $7.57. The firm has a market capitalization of $352.64 million, a price-to-earnings ratio of -0.79, a P/E/G ratio of 1.92 and a beta of 0.67. Mativ Holdings, Inc. has a 12-month low of $4.34 and a 12-month high of $19.96.

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

Mativ Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, May 23rd will be paid a $0.10 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $0.40 annualized dividend and a yield of 6.18%. Mativ's dividend payout ratio is -4.88%.

Insider Buying and Selling at Mativ

In other Mativ news, CEO Shruti Singhal acquired 40,000 shares of the company's stock in a transaction on Thursday, May 29th. The shares were purchased at an average price of $5.76 per share, for a total transaction of $230,400.00. Following the completion of the purchase, the chief executive officer now directly owns 56,533 shares of the company's stock, valued at approximately $325,630.08. This represents a 241.94% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kimberly E. Ritrievi acquired 10,000 shares of the company's stock in a transaction 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 purchase, the director now directly owns 30,640 shares of the company's stock, valued at approximately $180,163.20. This trade represents a 48.45% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.96% of the company's stock.

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.

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