Mativ (NYSE:MATV) Stock Crosses Above 50 Day Moving Average - What's Next?

Key Points

• Mativ shares rose 4.7% and moved above their 50-day moving average, trading near $12.25 versus the average of $11.89.
• Quarterly EPS was $0.31, beating estimates of $0.25, while revenue of $499.5 million came in below the $510 million forecast.
• Analysts’ consensus rating remains Hold; Mativ also announced a quarterly dividend of $0.10 per share, equivalent to a 3.3% annualized yield.

Mativ Holdings, Inc. (NYSE:MATV - Get Free Report)'s stock price crossed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $11.89 and traded as high as $12.30. Mativ shares last traded at $12.2510, with a volume of 577,107 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MATV. Weiss Ratings raised Mativ from a "sell (d+)" rating to a "hold (c)" rating in a research report on Friday, August 21st. Wall Street Zen downgraded shares of Mativ from a "strong-buy" rating to a "buy" rating in a research report on Saturday. One analyst has rated the stock with a Hold rating. According to MarketBeat, Mativ currently has a consensus rating of "Hold".

Mativ Stock Up 4.7%

The stock has a market cap of $675.28 million, a P/E ratio of 7.61 and a beta of 0.93. The company has a debt-to-equity ratio of 2.09, a quick ratio of 0.95 and a current ratio of 1.98. The stock's fifty day simple moving average is $11.89 and its 200-day simple moving average is $10.29.

Mativ (NYSE:MATV - Get Free Report) last posted its quarterly earnings data on Wednesday, November 4th. The company reported $0.31 EPS for the quarter, topping analysts' consensus estimates of $0.25 by $0.06. Mativ had a return on equity of 12.09% and a net margin of 4.64%. The firm had revenue of $499.50 million for the quarter, compared to analyst estimates of $510.00 million. As a group, research analysts forecast that Mativ Holdings, Inc. will post 1.03 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, December 18th. Shareholders of record on Friday, November 27th will be paid a dividend of $0.10 per share. The ex-dividend date is Friday, November 27th. This represents a $0.40 annualized dividend and a yield of 3.3%. Mativ's dividend payout ratio is presently 24.84%.

Institutional Investors Weigh In On Mativ

A number of hedge funds have recently made changes to their positions in the stock. Rockefeller Capital Management L.P. boosted its holdings in shares of Mativ by 1,082.0% during the 4th quarter. Rockefeller Capital Management L.P. now owns 2,364 shares of the company's stock valued at $29,000 after acquiring an additional 2,164 shares in the last quarter. GSA Capital Partners LLP bought a new stake in Mativ in the second quarter worth approximately $78,000. WINTON GROUP Ltd bought a new stake in Mativ in the second quarter valued at $78,000. Legal & General Group Plc acquired a new position in shares of Mativ during the second quarter worth approximately $86,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Mativ in the 2nd quarter worth about $113,000. 94.95% of the stock is currently owned by institutional investors and hedge funds.

Mativ Company Profile

Mativ Inc NYSE: MATV is a global manufacturer of specialty materials and engineered solutions. The company develops and produces materials used in filtration, healthcare, hygiene, food and beverage, industrial, packaging, and other specialized applications.

Its products include filtration media and components, engineered papers and nonwoven materials, release liners, protective and medical materials, and other performance-oriented substrates. Mativ's solutions are designed to provide properties such as filtration, barrier protection, absorbency, strength, and durability for use in consumer and industrial products.

The company was formed in 2022 through the merger of Schweitzer-Mauduit International and Neenah, combining their specialty materials businesses.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.