Wellington Management Group LLP Has $23.34 Million Position in Mativ Holdings, Inc. (NYSE:MATV)

Wellington Management Group LLP trimmed its holdings in Mativ Holdings, Inc. (NYSE:MATV) by 23.6% during the fourth quarter, Holdings Channel reports. The firm owned 2,140,836 shares of the company’s stock after selling 660,333 shares during the quarter. Wellington Management Group LLP’s holdings in Mativ were worth $23,335,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Point72 DIFC Ltd bought a new stake in Mativ in the third quarter valued at $35,000. KBC Group NV increased its position in Mativ by 93.2% in the 4th 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 in the last quarter. Quantbot Technologies LP acquired a new position in Mativ during the 4th quarter worth approximately $122,000. FMR LLC boosted its holdings in Mativ by 113.3% in the third quarter. FMR LLC now owns 7,716 shares of the company’s stock worth $131,000 after acquiring an additional 4,098 shares in the last quarter. Finally, AlphaQuest LLC grew its stake in Mativ by 20,544.8% in the fourth quarter. AlphaQuest LLC now owns 11,974 shares of the company’s stock valued at $131,000 after acquiring an additional 11,916 shares during the period. Institutional investors own 94.95% of the company’s stock.

Mativ Stock Down 3.6 %

Shares of NYSE MATV opened at $4.69 on Tuesday. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.40 and a quick ratio of 1.29. The company has a 50-day moving average price of $7.35 and a 200-day moving average price of $11.24. The stock has a market capitalization of $255.42 million, a P/E ratio of -5.21, a P/E/G ratio of 1.08 and a beta of 0.68. Mativ Holdings, Inc. has a 1 year low of $4.34 and a 1 year high of $19.96.

Mativ (NYSE:MATV) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $472.70 million. On average, equities research analysts forecast that Mativ Holdings, Inc. will post 1.15 EPS for the current fiscal year.

Mativ Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 8.54%. The ex-dividend date of this dividend was Friday, March 14th. Mativ’s dividend payout ratio (DPR) is presently -44.44%.

Analysts Set New Price Targets

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

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.