Mativ (NYSE:MATV) Shares Down 6%

Mativ Holdings, Inc. (NYSE:MATV) dropped 6% during mid-day trading on Monday . The company traded as low as $15.91 and last traded at $15.94. Approximately 87,598 shares changed hands during trading, a decline of 80% from the average daily volume of 429,536 shares. The stock had previously closed at $16.96.

Mativ Stock Down 6.3 %

The company has a quick ratio of 1.40, a current ratio of 2.54 and a debt-to-equity ratio of 1.29. The business has a fifty day moving average of $17.77 and a 200 day moving average of $16.26.

Mativ (NYSE:MATV) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.23). The company had revenue of $500.20 million for the quarter, compared to analyst estimates of $492.10 million. Mativ had a positive return on equity of 5.79% and a negative net margin of 15.56%. On average, research analysts anticipate that Mativ Holdings, Inc. will post 1 EPS for the current year.

Mativ Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, May 24th were paid a $0.10 dividend. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.52%. Mativ’s dividend payout ratio (DPR) is presently -6.62%.

Institutional Trading of Mativ

Institutional investors and hedge funds have recently bought and sold shares of the company. PNC Financial Services Group Inc. lifted its position in shares of Mativ by 264.1% in the 3rd quarter. PNC Financial Services Group Inc. now owns 6,940 shares of the company’s stock worth $99,000 after buying an additional 5,034 shares during the last quarter. Invesco Ltd. lifted its holdings in Mativ by 2.6% in the third quarter. Invesco Ltd. now owns 504,343 shares of the company’s stock worth $7,192,000 after acquiring an additional 12,903 shares during the last quarter. Natixis Advisors L.P. boosted its stake in Mativ by 9.1% in the third quarter. Natixis Advisors L.P. now owns 151,854 shares of the company’s stock valued at $2,166,000 after acquiring an additional 12,636 shares during the period. Rubric Capital Management LP grew its holdings in shares of Mativ by 16.4% during the third quarter. Rubric Capital Management LP now owns 4,000,000 shares of the company’s stock valued at $57,040,000 after purchasing an additional 562,422 shares during the last quarter. Finally, GSA Capital Partners LLP raised its position in shares of Mativ by 7.2% during the 3rd quarter. GSA Capital Partners LLP now owns 72,064 shares of the company’s stock worth $1,028,000 after purchasing an additional 4,846 shares during the period. Institutional investors and hedge funds own 94.95% of the company’s 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.