Mativ (NYSE:MATV) Releases Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Mativ (NYSE:MATV) announced its earnings results on Wednesday. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.06, FiscalAI reports. Mativ had a negative net margin of 16.98% and a positive return on equity of 10.29%. The business had revenue of $463.10 million for the quarter, compared to the consensus estimate of $469.55 million.

Mativ Stock Down 8.3%

Shares of NYSE:MATV opened at $13.24 on Friday. The stock has a market capitalization of $723.96 million, a P/E ratio of -2.12 and a beta of 0.82. The stock’s 50-day moving average price is $12.98 and its 200-day moving average price is $12.03. The company has a current ratio of 2.14, a quick ratio of 1.09 and a debt-to-equity ratio of 2.62. Mativ has a 12-month low of $4.34 and a 12-month high of $15.48.

Mativ Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 3.0%. The ex-dividend date is Friday, March 13th. Mativ’s dividend payout ratio is presently -4.98%.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Weiss Ratings restated a “sell (d)” rating on shares of Mativ in a research report on Monday, December 29th. Wall Street Zen upgraded Mativ from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 8th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $10.00.

Hedge Funds Weigh In On Mativ

Institutional investors and hedge funds have recently bought and sold shares of the stock. Advisory Services Network LLC purchased a new position in Mativ in the 3rd quarter worth approximately $30,000. California State Teachers Retirement System increased its stake in shares of Mativ by 167.2% in the fourth quarter. California State Teachers Retirement System now owns 3,327 shares of the company’s stock worth $40,000 after buying an additional 2,082 shares during the period. CANADA LIFE ASSURANCE Co purchased a new position in shares of Mativ in the fourth quarter worth $77,000. Osaic Holdings Inc. raised its holdings in Mativ by 939.9% during the 2nd quarter. Osaic Holdings Inc. now owns 11,668 shares of the company’s stock valued at $80,000 after buying an additional 10,546 shares during the last quarter. Finally, Aquatic Capital Management LLC purchased a new stake in Mativ during the 3rd quarter valued at $115,000. 94.95% of the stock is currently owned by institutional investors.

Mativ Company Profile

Mativ is a global supplier of specialty fiber-based materials and engineered solutions, established in April 2021 through the spin-off of Ahlstrom-Munksjö’s global filtration and engineered materials business. Trading on the New York Stock Exchange under the ticker MATV, the company focuses on designing and manufacturing high-performance products for a broad range of end markets, including life sciences, energy storage, industrial filtration, and consumer products.

Through its Advanced Solutions segment, Mativ produces innovative materials such as lithium-ion battery separators, specialty release liners, and pressure-sensitive adhesive tapes.