First Eagle Investment Management LLC Boosts Holdings in Mativ Holdings, Inc. (NYSE:MATV)

First Eagle Investment Management LLC raised its holdings in shares of Mativ Holdings, Inc. (NYSE:MATV) by 15.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 555,796 shares of the company’s stock after acquiring an additional 76,400 shares during the quarter. First Eagle Investment Management LLC’s holdings in Mativ were worth $6,058,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in MATV. Peregrine Capital Management LLC purchased a new position in Mativ during the 4th quarter valued at about $4,397,000. Bank of New York Mellon Corp increased its holdings in Mativ by 44.2% during the 4th quarter. Bank of New York Mellon Corp now owns 613,444 shares of the company’s stock valued at $6,687,000 after acquiring an additional 187,970 shares in the last quarter. Empowered Funds LLC boosted its stake in shares of Mativ by 34.5% during the 4th quarter. Empowered Funds LLC now owns 301,432 shares of the company’s stock worth $3,286,000 after purchasing an additional 77,383 shares during the last quarter. Barclays PLC boosted its stake in shares of Mativ by 227.5% during the 3rd quarter. Barclays PLC now owns 102,836 shares of the company’s stock worth $1,748,000 after purchasing an additional 71,436 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Mativ during the 3rd quarter worth about $1,158,000. 94.95% of the stock is currently owned by hedge funds and other institutional investors.

Mativ Price Performance

Mativ stock opened at $6.05 on Friday. Mativ Holdings, Inc. has a 12-month low of $5.10 and a 12-month high of $19.96. The stock has a market capitalization of $329.56 million, a P/E ratio of -6.72, a P/E/G ratio of 1.08 and a beta of 0.72. The firm’s 50-day moving average is $8.54 and its two-hundred day moving average is $12.66. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.40 and a quick ratio of 1.29.

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

Mativ Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a $0.10 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.40 annualized dividend and a dividend yield of 6.62%. Mativ’s dividend payout ratio is presently -44.44%.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus assumed coverage on shares of Mativ in a research note on Thursday, November 21st. They set a “hold” rating and a $15.50 price target on the stock.

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.