Mativ (NYSE:MATV - Get Free Report) posted its earnings results on Wednesday. The company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.15, Zacks reports. Mativ had a negative net margin of 23.09% and a positive return on equity of 4.12%. The firm had revenue of $525.40 million during the quarter, compared to the consensus estimate of $505.00 million.
Mativ Trading Up 11.1%
MATV traded up $0.94 during mid-day trading on Friday, hitting $9.40. 1,356,407 shares of the stock were exchanged, compared to its average volume of 551,252. The firm's fifty day moving average is $7.01 and its two-hundred day moving average is $6.72. Mativ has a 1-year low of $4.34 and a 1-year high of $19.96. The company has a market cap of $512.49 million, a PE ratio of -1.13 and a beta of 0.73. The company has a current ratio of 2.37, a quick ratio of 1.18 and a debt-to-equity ratio of 2.65.
Mativ Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, August 29th will be issued a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 4.3%. The ex-dividend date is Friday, August 29th. Mativ's payout ratio is currently -4.79%.
Insider Transactions at Mativ
In other Mativ news, CEO Shruti Singhal purchased 40,000 shares of the business's stock in a transaction on Thursday, May 29th. The shares were bought at an average cost of $5.76 per share, for a total transaction of $230,400.00. Following the completion of the purchase, the chief executive officer directly owned 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kimberly E. Ritrievi acquired 10,000 shares of the stock in a transaction dated Thursday, May 29th. The stock was acquired at an average cost of $5.88 per share, with a total value of $58,800.00. Following the purchase, the director owned 30,640 shares of the company's stock, valued at approximately $180,163.20. This trade represents a 48.45% increase in their position. The disclosure for this purchase can be found here. Company insiders own 2.01% of the company's stock.
Hedge Funds Weigh In On Mativ
Institutional investors have recently modified their holdings of the business. Creative Planning purchased a new position in Mativ in the second quarter valued at $159,000. Royal Bank of Canada raised its position in Mativ by 31.3% in the 1st quarter. Royal Bank of Canada now owns 45,795 shares of the company's stock valued at $286,000 after purchasing an additional 10,927 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Mativ by 119.8% in the 1st quarter. AQR Capital Management LLC now owns 167,517 shares of the company's stock valued at $1,044,000 after buying an additional 91,301 shares during the period. Empowered Funds LLC boosted its stake in shares of Mativ by 6.0% in the 1st quarter. Empowered Funds LLC now owns 319,593 shares of the company's stock valued at $1,991,000 after buying an additional 18,161 shares during the period. Finally, Millennium Management LLC grew its position in shares of Mativ by 1,978.4% during the first quarter. Millennium Management LLC now owns 996,673 shares of the company's stock worth $6,209,000 after buying an additional 948,720 shares in the last quarter. Institutional investors and hedge funds own 94.95% of the company's stock.
Mativ Company Profile
(
Get Free Report)
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.
Further Reading

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