Mativ (NYSE:MATV) Shares Gap Down - Time to Sell?

Key Points

• Mativ Holdings, Inc. (NYSE:MATV) experienced a significant gap down in its stock price, opening at $7.99, down from a previous close of $8.46.
• The company recently declared a quarterly dividend of $0.10 per share, representing an annualized yield of 4.1%, with the payment scheduled for September 26th.
• Despite a gap down in share price, Mativ reported an earnings per share (EPS) of $0.33 for the latest quarter, beating analysts' estimates by $0.15.

Mativ Holdings, Inc. (NYSE:MATV - Get Free Report)'s share price gapped down prior to trading on Friday . The stock had previously closed at $8.46, but opened at $7.99. Mativ shares last traded at $9.28, with a volume of 222,309 shares traded.

Wall Street Analysts Forecast Growth

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

Mativ Price Performance

The company has a current ratio of 2.37, a quick ratio of 1.21 and a debt-to-equity ratio of 2.65. The business has a 50-day moving average price of $7.08 and a two-hundred day moving average price of $6.68. The firm has a market capitalization of $535.44 million, a price-to-earnings ratio of -1.17 and a beta of 0.73.

Mativ (NYSE:MATV - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.15. Mativ had a negative net margin of 23.09% and a positive return on equity of 4.12%. The company had revenue of $525.40 million during the quarter, compared to the consensus estimate of $505.00 million. As a group, research analysts forecast that Mativ Holdings, Inc. will post 1.15 EPS for the current year.

Mativ Announces Dividend

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 dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.40 annualized dividend and a dividend yield of 4.1%. Mativ's payout ratio is -4.79%.

Insider Buying and Selling at Mativ

In other news, Director Kimberly E. Ritrievi purchased 10,000 shares of Mativ stock in a transaction dated Thursday, May 29th. The stock was bought 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 owned 30,640 shares in the company, valued at $180,163.20. The trade was a 48.45% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Shruti Singhal acquired 40,000 shares of the business's stock in a transaction that occurred 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 owned 56,533 shares of the company's stock, valued at approximately $325,630.08. This represents a 241.94% 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 Investors Weigh In On Mativ

A number of hedge funds and other institutional investors have recently modified their holdings of MATV. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Mativ by 3.8% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,724 shares of the company's stock worth $335,000 after acquiring an additional 1,121 shares in the last quarter. MetLife Investment Management LLC raised its position in Mativ by 5.7% in the fourth quarter. MetLife Investment Management LLC now owns 33,153 shares of the company's stock worth $361,000 after acquiring an additional 1,779 shares in the last quarter. GAMMA Investing LLC raised its position in Mativ by 119.7% in the first quarter. GAMMA Investing LLC now owns 4,462 shares of the company's stock worth $28,000 after acquiring an additional 2,431 shares in the last quarter. Federated Hermes Inc. bought a new stake in Mativ in the fourth quarter worth about $33,000. Finally, US Bancorp DE raised its position in Mativ by 204.2% in the first quarter. US Bancorp DE now owns 5,677 shares of the company's stock worth $35,000 after acquiring an additional 3,811 shares in the last quarter. 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.