Mativ (NYSE:MATV) Shares Gap Down - Here's Why

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) 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 trading hands.

Wall Street Analysts Forecast Growth

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

Mativ Stock Up 11.1%

The firm has a market cap of $512.49 million, a price-to-earnings ratio of -1.13 and a beta of 0.73. The firm's 50 day moving average price is $7.01 and its two-hundred day moving average price is $6.71. The company has a debt-to-equity ratio of 2.65, a current ratio of 2.37 and a quick ratio of 1.18.

Mativ (NYSE:MATV - Get Free Report) last announced its earnings results on Wednesday, August 6th. The company reported $0.33 earnings per share for the quarter, topping 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 business had revenue of $525.40 million during the quarter, compared to the consensus estimate of $505.00 million. As a group, sell-side analysts forecast that Mativ Holdings, Inc. will post 1.15 earnings per share for the current fiscal year.

Mativ Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, August 29th will be paid a dividend of $0.10 per share. The ex-dividend date is Friday, August 29th. This represents a $0.40 annualized dividend and a dividend yield of 4.3%. Mativ's dividend payout ratio is -4.79%.

Insider Activity

In other news, Director Kimberly E. Ritrievi acquired 10,000 shares of Mativ stock in a transaction that occurred on Thursday, May 29th. The stock was purchased at an average price of $5.88 per share, for a total transaction of $58,800.00. Following the completion of the transaction, the director directly owned 30,640 shares in the company, valued at approximately $180,163.20. This trade represents a 48.45% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Shruti Singhal acquired 40,000 shares of Mativ stock in a transaction that occurred on Thursday, May 29th. The stock was purchased at an average price of $5.76 per share, with a total value of $230,400.00. Following the transaction, the chief executive officer owned 56,533 shares of the company's stock, valued at $325,630.08. This trade represents a 241.94% increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.01% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Mativ

Hedge funds have recently added to or reduced their stakes in the company. Federated Hermes Inc. acquired a new stake in Mativ in the fourth quarter valued at about $33,000. GAMMA Investing LLC increased its holdings in Mativ by 119.7% in the first quarter. GAMMA Investing LLC now owns 4,462 shares of the company's stock valued at $28,000 after buying an additional 2,431 shares in the last quarter. CWM LLC increased its holdings in Mativ by 707.7% in the first quarter. CWM LLC now owns 4,701 shares of the company's stock valued at $29,000 after buying an additional 4,119 shares in the last quarter. US Bancorp DE increased its holdings in Mativ by 204.2% in the first quarter. US Bancorp DE now owns 5,677 shares of the company's stock valued at $35,000 after buying an additional 3,811 shares in the last quarter. Finally, Public Employees Retirement System of Ohio increased its holdings in Mativ by 186.1% in the second quarter. Public Employees Retirement System of Ohio now owns 9,448 shares of the company's stock valued at $64,000 after buying an additional 6,146 shares in the last quarter. Institutional investors and hedge funds own 94.95% of the company's stock.

About Mativ

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.