Mativ (NYSE:MATV) Issues Earnings Results

Key Points

• Mativ (NYSE:MATV) reported earnings of $0.33 per share, exceeding estimates by $0.15, and achieved revenue of $525.40 million, surpassing the consensus estimate of $505.00 million.
• The company announced a quarterly dividend of $0.10 per share, providing a dividend yield of 4.3% for investors, with a record date set for August 29th.
• Institutional investors have shown significant interest in Mativ, with hedge funds increasing their holdings, leading to nearly 95% ownership in the company.

Mativ (NYSE:MATV - Get Free Report) released its earnings results on Wednesday, August 6th. The company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.18 by $0.15, Zacks reports. The company had revenue of $525.40 million during the quarter, compared to analysts' expectations of $505.00 million. Mativ had a positive return on equity of 4.12% and a negative net margin of 23.09%.

Mativ Stock Performance

Shares of NYSE MATV traded up $0.77 during trading on Wednesday, reaching $11.18. The stock had a trading volume of 825,131 shares, compared to its average volume of 798,153. The firm's 50 day moving average price is $7.15 and its two-hundred day moving average price is $6.71. Mativ has a one year low of $4.34 and a one year high of $19.96. The stock has a market cap of $611.21 million, a PE ratio of -1.34 and a beta of 0.73. The company has a debt-to-equity ratio of 2.65, a quick ratio of 1.21 and a current ratio of 2.37.

Mativ Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, August 29th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Friday, August 29th. Mativ's payout ratio is -4.79%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised shares of Mativ from a "hold" rating to a "buy" rating in a research report on Saturday.

Insiders Place Their Bets

In other Mativ news, CEO Shruti Singhal purchased 40,000 shares of the firm's stock in a transaction dated Thursday, May 29th. The stock was acquired at an average cost of $5.76 per share, with a total value of $230,400.00. Following the acquisition, the chief executive officer owned 56,533 shares of the company's stock, valued at approximately $325,630.08. This represents a 241.94% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Kimberly E. Ritrievi acquired 10,000 shares of the company's stock in a transaction that occurred on Thursday, May 29th. The shares were acquired at an average price of $5.88 per share, for a total transaction of $58,800.00. Following the purchase, the director owned 30,640 shares of the company's stock, valued at $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. Insiders own 0.96% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in MATV. Royal Bank of Canada grew its stake in shares of Mativ by 31.3% in the first quarter. Royal Bank of Canada now owns 45,795 shares of the company's stock worth $286,000 after purchasing an additional 10,927 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Mativ by 119.8% during the 1st quarter. AQR Capital Management LLC now owns 167,517 shares of the company's stock valued at $1,044,000 after purchasing an additional 91,301 shares during the period. Millennium Management LLC lifted its holdings in Mativ by 1,978.4% in the 1st quarter. Millennium Management LLC now owns 996,673 shares of the company's stock valued at $6,209,000 after acquiring an additional 948,720 shares during the last quarter. Empowered Funds LLC raised its holdings in shares of Mativ by 6.0% in the 1st quarter. Empowered Funds LLC now owns 319,593 shares of the company's stock worth $1,991,000 after purchasing an additional 18,161 shares in the last quarter. Finally, Creative Planning acquired a new stake in Mativ during the second quarter valued at approximately $159,000. 94.95% of the stock is currently owned by institutional investors.

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.