Mativ Holdings, Inc. (NYSE:MATV) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. trimmed its holdings in shares of Mativ Holdings, Inc. (NYSE:MATV) by 35.7% in the fourth quarter, Holdings Channel reports. The firm owned 269,101 shares of the company’s stock after selling 149,574 shares during the period. Russell Investments Group Ltd.’s holdings in Mativ were worth $2,933,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of MATV. Illinois Municipal Retirement Fund raised its stake in shares of Mativ by 5.2% in the 4th quarter. Illinois Municipal Retirement Fund now owns 32,258 shares of the company’s stock valued at $352,000 after acquiring an additional 1,583 shares during the period. Rhumbline Advisers lifted its stake in Mativ by 1.0% during the fourth quarter. Rhumbline Advisers now owns 169,976 shares of the company’s stock worth $1,853,000 after purchasing an additional 1,649 shares in the last quarter. KBC Group NV boosted its position in shares of Mativ by 93.2% during the fourth quarter. KBC Group NV now owns 4,787 shares of the company’s stock worth $52,000 after buying an additional 2,309 shares during the period. Franklin Resources Inc. grew its stake 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 in the last quarter. Finally, FMR LLC raised its holdings in shares of Mativ by 113.3% in the 3rd quarter. FMR LLC now owns 7,716 shares of the company’s stock valued at $131,000 after buying an additional 4,098 shares during the period. Institutional investors and hedge funds own 94.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus upgraded shares of Mativ from a “hold” rating to a “buy” rating and reduced their target price for the stock from $15.50 to $10.00 in a report on Monday, March 24th.

Mativ Stock Performance

Shares of MATV opened at $4.59 on Friday. The company has a market capitalization of $250.02 million, a price-to-earnings ratio of -5.10, a price-to-earnings-growth ratio of 1.08 and a beta of 0.68. Mativ Holdings, Inc. has a 52-week low of $4.34 and a 52-week high of $19.96. 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 stock has a 50 day moving average price of $6.54 and a 200 day moving average price of $10.58.

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

Mativ Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 8.72%. The ex-dividend date of this dividend was Friday, March 14th. Mativ’s dividend payout ratio (DPR) is currently -44.44%.

Mativ 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.