Russell Investments Group Ltd. Has $1.30 Million Stake in Mativ Holdings, Inc. $MATV

Key Points

• Russell Investments Group Ltd. has reduced its holdings in Mativ Holdings, Inc. by 22.8%, selling 61,222 shares, and now owns approximately 0.38% of the company valued at $1,295,000.
• Mativ has received upgrades from brokerages, with a current consensus rating of "Strong Buy" and a target price of $10.00.
• The company recently declared a quarterly dividend of $0.10 per share, representing an annualized yield of 3.2%, despite a negative dividend payout ratio of -4.79%.

Russell Investments Group Ltd. trimmed its holdings in shares of Mativ Holdings, Inc. (NYSE:MATV - Free Report) by 22.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 207,879 shares of the company's stock after selling 61,222 shares during the period. Russell Investments Group Ltd. owned 0.38% of Mativ worth $1,295,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of MATV. GAMMA Investing LLC boosted 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 buying an additional 2,431 shares during the last quarter. CWM LLC boosted its position in Mativ by 707.7% in the 1st quarter. CWM LLC now owns 4,701 shares of the company's stock valued at $29,000 after buying an additional 4,119 shares during the last quarter. US Bancorp DE boosted its position in Mativ by 204.2% in the 1st quarter. US Bancorp DE now owns 5,677 shares of the company's stock valued at $35,000 after buying an additional 3,811 shares during the last quarter. QRG Capital Management Inc. bought a new position in Mativ in the 1st quarter valued at $64,000. Finally, Sherbrooke Park Advisers LLC bought a new position in Mativ in the 4th quarter valued at $145,000. 94.95% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Zacks Research upgraded Mativ to a "strong-buy" rating in a research report on Monday, August 11th. Wall Street Zen upgraded Mativ from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company's stock. Based on data from MarketBeat, Mativ has an average rating of "Strong Buy" and an average target price of $10.00.

Mativ Trading Down 0.6%

Mativ stock traded down $0.07 during mid-day trading on Tuesday, hitting $12.50. 596,430 shares of the company's stock were exchanged, compared to its average volume of 820,201. The firm has a market capitalization of $683.16 million, a P/E ratio of -1.50 and a beta of 0.83. Mativ Holdings, Inc. has a fifty-two week low of $4.34 and a fifty-two week high of $19.96. The company has a quick ratio of 1.21, a current ratio of 2.37 and a debt-to-equity ratio of 2.65. The company's 50 day simple moving average is $8.82 and its 200-day simple moving average is $7.00.

Mativ (NYSE:MATV - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $0.33 EPS for the quarter, topping the consensus estimate of $0.18 by $0.15. The business 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%. On average, equities analysts anticipate that Mativ Holdings, Inc. will post 1.15 earnings per share for the current year.

Mativ Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, August 29th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.40 annualized dividend and a dividend yield of 3.2%. Mativ's dividend payout ratio (DPR) is currently -4.79%.

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.