Mativ Holdings, Inc. (NYSE:MATV) Shares Acquired by New York State Teachers Retirement System

New York State Teachers Retirement System increased its position in Mativ Holdings, Inc. (NYSE:MATV) by 7.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 100,039 shares of the company’s stock after acquiring an additional 6,518 shares during the period. New York State Teachers Retirement System’s holdings in Mativ were worth $1,090,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Empowered Funds LLC lifted its holdings in shares of Mativ by 34.5% in the fourth quarter. Empowered Funds LLC now owns 301,432 shares of the company’s stock valued at $3,286,000 after buying an additional 77,383 shares during the period. KBC Group NV lifted its holdings in shares of Mativ by 93.2% in the fourth quarter. KBC Group NV now owns 4,787 shares of the company’s stock valued at $52,000 after buying an additional 2,309 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Mativ by 44.8% in the third quarter. JPMorgan Chase & Co. now owns 196,822 shares of the company’s stock valued at $3,344,000 after buying an additional 60,930 shares during the period. Franklin Resources Inc. lifted its holdings in shares of Mativ by 8.3% in the third quarter. Franklin Resources Inc. now owns 34,362 shares of the company’s stock valued at $574,000 after buying an additional 2,648 shares during the period. Finally, Virtu Financial LLC acquired a new stake in shares of Mativ in the third quarter valued at $338,000. Institutional investors and hedge funds own 94.95% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus assumed coverage on Mativ in a report on Thursday, November 21st. They set a “hold” rating and a $15.50 target price for the company.

Mativ Trading Down 8.2 %

Shares of NYSE MATV opened at $6.86 on Monday. Mativ Holdings, Inc. has a 12 month low of $6.25 and a 12 month high of $19.96. The company has a market cap of $372.50 million, a price-to-earnings ratio of -7.62, a P/E/G ratio of 1.08 and a beta of 0.66. The company has a quick ratio of 1.29, a current ratio of 2.40 and a debt-to-equity ratio of 1.28. The business has a fifty day simple moving average of $9.93 and a 200-day simple moving average of $13.84.

Mativ (NYSE:MATV) last announced its earnings results on Wednesday, February 19th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.17). Mativ had a negative net margin of 2.46% and a positive return on equity of 3.86%. The company had revenue of $458.60 million for the quarter, compared to analysts’ expectations of $472.70 million. Sell-side analysts predict that Mativ Holdings, Inc. will post 1.15 EPS for the current year.

Mativ Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 5.84%. The ex-dividend date is Friday, March 14th. Mativ’s dividend payout ratio is currently -44.44%.

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.