Needham Investment Management LLC Sells 40,000 Shares of Mativ Holdings, Inc. (NYSE:MATV)

Needham Investment Management LLC trimmed its position in Mativ Holdings, Inc. (NYSE:MATV - Free Report) by 8.3% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 442,500 shares of the company's stock after selling 40,000 shares during the period. Needham Investment Management LLC owned about 0.81% of Mativ worth $4,823,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Federated Hermes Inc. purchased a new stake in shares of Mativ during the 4th quarter valued at approximately $33,000. KBC Group NV increased its holdings in Mativ by 93.2% during the 4th quarter. KBC Group NV now owns 4,787 shares of the company's stock worth $52,000 after acquiring an additional 2,309 shares during the period. Quantbot Technologies LP bought a new stake in Mativ during the 4th quarter worth approximately $122,000. AlphaQuest LLC increased its holdings in Mativ by 20,544.8% during the 4th quarter. AlphaQuest LLC now owns 11,974 shares of the company's stock worth $131,000 after acquiring an additional 11,916 shares during the period. Finally, Oxford Asset Management LLP bought a new stake in Mativ during the 4th quarter worth approximately $133,000. 94.95% of the stock is owned by institutional investors.

Mativ Price Performance

Shares of NYSE:MATV traded up $0.08 during trading on Friday, reaching $6.06. The company had a trading volume of 464,263 shares, compared to its average volume of 593,637. The company has a fifty day moving average of $5.52 and a two-hundred day moving average of $8.88. The stock has a market capitalization of $330.11 million, a P/E ratio of -6.73, a price-to-earnings-growth ratio of 1.08 and a beta of 0.61. Mativ Holdings, Inc. has a 12 month low of $4.34 and a 12 month high of $19.96. The company has a current ratio of 2.40, a quick ratio of 1.29 and a debt-to-equity ratio of 1.28.

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

Mativ Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, May 23rd will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $0.40 annualized dividend and a yield of 6.61%. Mativ's payout ratio is currently -4.88%.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus raised shares of Mativ from a "hold" rating to a "buy" rating and decreased their target price for the stock 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.