Wellington Management Group LLP Decreases Stock Position in Mativ Holdings, Inc. (NYSE:MATV)

Wellington Management Group LLP lessened its holdings in Mativ Holdings, Inc. (NYSE:MATV - Free Report) by 23.6% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,140,836 shares of the company's stock after selling 660,333 shares during the quarter. Wellington Management Group LLP owned approximately 3.93% of Mativ worth $23,335,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of MATV. Federated Hermes Inc. bought a new position in shares of Mativ in the fourth quarter worth about $33,000. KBC Group NV lifted its holdings in Mativ by 93.2% during the 4th quarter. KBC Group NV now owns 4,787 shares of the company's stock valued at $52,000 after buying an additional 2,309 shares in the last quarter. Quantbot Technologies LP purchased a new stake in Mativ in the 4th quarter valued at about $122,000. AlphaQuest LLC grew its stake in Mativ by 20,544.8% in the 4th quarter. AlphaQuest LLC now owns 11,974 shares of the company's stock worth $131,000 after acquiring an additional 11,916 shares in the last quarter. Finally, Oxford Asset Management LLP purchased a new position in shares of Mativ during the fourth quarter worth approximately $133,000. Hedge funds and other institutional investors own 94.95% of the company's stock.

Analyst Upgrades and Downgrades

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

Mativ Stock Down 0.6%

Shares of MATV traded down $0.04 during midday trading on Wednesday, reaching $6.49. 570,737 shares of the stock were exchanged, compared to its average volume of 603,000. The company has a current ratio of 2.40, a quick ratio of 1.29 and a debt-to-equity ratio of 1.28. The company's 50 day moving average is $5.43 and its two-hundred day moving average is $8.18. The company has a market capitalization of $353.82 million, a P/E ratio of -7.21, a PEG ratio of 1.08 and a beta of 0.61. Mativ Holdings, Inc. has a 52 week low of $4.34 and a 52 week high of $19.96.

Mativ (NYSE:MATV - Get Free Report) last issued its earnings results 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). Mativ had a positive return on equity of 3.86% and a negative net margin of 2.46%. The business had revenue of $484.80 million for the quarter, compared to the consensus estimate of $470.30 million. On average, sell-side analysts anticipate that Mativ Holdings, Inc. will post 1.15 earnings per share for the current year.

Mativ Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, May 23rd will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 6.16%. The ex-dividend date of this dividend is Friday, May 23rd. Mativ's payout ratio is -4.88%.

Insider Buying and Selling

In related news, CEO Shruti Singhal bought 40,000 shares of the business's stock in a transaction on Thursday, May 29th. The shares were bought 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 trade represents a 241.94% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kimberly E. Ritrievi bought 10,000 shares of Mativ stock in a transaction on Thursday, May 29th. The stock was purchased at an average price of $5.88 per share, with a total value of $58,800.00. Following the completion of the acquisition, the director now directly owns 30,640 shares of the company's stock, valued at $180,163.20. This represents a 48.45% increase in their position. The disclosure for this purchase can be found here. 2.01% of the stock is currently owned by insiders.

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.