Mativ Holdings, Inc. $MATV Shares Acquired by Wolverine Asset Management LLC

Wolverine Asset Management LLC lifted its stake in shares of Mativ Holdings, Inc. (NYSE:MATV) by 31.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 166,658 shares of the company’s stock after purchasing an additional 39,796 shares during the quarter. Wolverine Asset Management LLC owned about 0.31% of Mativ worth $1,137,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in MATV. GAMMA Investing LLC boosted its position in shares of Mativ by 119.7% in the 1st quarter. GAMMA Investing LLC now owns 4,462 shares of the company’s stock worth $28,000 after buying an additional 2,431 shares in the last quarter. CWM LLC boosted its position in shares of Mativ by 707.7% in the 1st quarter. CWM LLC now owns 4,701 shares of the company’s stock worth $29,000 after buying an additional 4,119 shares in the last quarter. Mayflower Financial Advisors LLC boosted its position in shares of Mativ by 5.3% in the 1st quarter. Mayflower Financial Advisors LLC now owns 358,100 shares of the company’s stock worth $2,231,000 after buying an additional 18,000 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of Mativ in the 1st quarter worth about $681,000. Finally, Readystate Asset Management LP purchased a new stake in shares of Mativ in the 1st quarter worth about $282,000. 94.95% of the stock is currently owned by hedge funds and other institutional investors.

Mativ Price Performance

NYSE:MATV opened at $10.67 on Friday. The firm has a market cap of $583.47 million, a price-to-earnings ratio of -1.28 and a beta of 0.83. The company has a current ratio of 2.37, a quick ratio of 1.21 and a debt-to-equity ratio of 2.65. The company’s 50-day moving average is $11.55 and its two-hundred day moving average is $8.55. Mativ Holdings, Inc. has a 12-month low of $4.34 and a 12-month high of $17.47.

Mativ (NYSE:MATV) last released its earnings results on Wednesday, August 6th. The company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.15. The company had revenue of $525.40 million for the quarter, compared to analyst estimates of $505.00 million. Mativ had a negative net margin of 23.09% and a positive return on equity of 4.12%. Research analysts expect that Mativ Holdings, Inc. will post 1.15 EPS for the current year.

Mativ Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, August 29th were paid a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, August 29th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.7%. Mativ’s dividend payout ratio is currently -4.79%.

Analysts Set New Price Targets

Several equities research analysts recently commented on MATV shares. Zacks Research lowered shares of Mativ from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 7th. Wall Street Zen upgraded shares of Mativ from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Mativ in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $10.00.

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.