D. E. Shaw & Co. Inc. Boosts Holdings in Mativ Holdings, Inc. (NYSE:MATV)

D. E. Shaw & Co. Inc. grew its stake in Mativ Holdings, Inc. (NYSE:MATV - Free Report) by 85.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 504,422 shares of the company's stock after purchasing an additional 233,125 shares during the period. D. E. Shaw & Co. Inc. owned approximately 0.93% of Mativ worth $5,498,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. American Century Companies Inc. grew its holdings in shares of Mativ by 20.2% during the 4th quarter. American Century Companies Inc. now owns 1,507,418 shares of the company's stock worth $16,431,000 after purchasing an additional 253,365 shares during the period. Geode Capital Management LLC boosted its stake in Mativ by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 1,247,900 shares of the company's stock worth $13,606,000 after buying an additional 4,386 shares during the period. Royce & Associates LP increased its position in shares of 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 acquiring an additional 226,090 shares during the last quarter. Invesco Ltd. raised its stake in shares of Mativ by 62.8% in the 4th quarter. Invesco Ltd. now owns 943,771 shares of the company's stock valued at $10,287,000 after acquiring an additional 364,117 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Mativ by 44.2% in the 4th quarter. Bank of New York Mellon Corp now owns 613,444 shares of the company's stock worth $6,687,000 after acquiring an additional 187,970 shares during the last quarter. 94.95% of the stock is currently owned by hedge funds and other institutional investors.

Mativ Trading Down 5.4%

NYSE:MATV traded down $0.33 on Wednesday, reaching $5.73. 353,284 shares of the company's stock were exchanged, compared to its average volume of 592,475. The firm has a market capitalization of $312.12 million, a price-to-earnings ratio of -6.34, a price-to-earnings-growth 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. The company has a quick ratio of 1.29, a current ratio of 2.40 and a debt-to-equity ratio of 1.28. The business has a fifty day moving average of $5.53 and a 200-day moving average of $8.75.

Mativ (NYSE:MATV - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.03). The business had revenue of $484.80 million for the quarter, compared to analyst estimates of $470.30 million. Mativ had a positive return on equity of 3.86% and a negative net margin of 2.46%. As a group, analysts expect that Mativ Holdings, Inc. will post 1.15 earnings per share for the current year.

Mativ Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, May 23rd will be issued a $0.10 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $0.40 dividend on an annualized basis and a yield of 6.99%. Mativ's dividend payout ratio (DPR) is presently -4.88%.

Wall Street Analyst Weigh In

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

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.