Mativ Holdings, Inc. (NYSE:MATV) Shares Bought by JPMorgan Chase & Co.
JPMorgan Chase & Co. increased its stake in Mativ Holdings, Inc. (NYSE:MATV) by 44.5% in Q4, owning 284,348 shares valued at $3.1 million. Other institutional investors also raised their holdings. Mativ's stock opened at $4.56, with a market cap of $248.6 million. The company reported a Q4 EPS of $0.05, missing estimates, and declared a quarterly dividend of $0.10 per share, yielding 8.77%. Mativ operates in specialty materials, focusing on advanced technical materials and fiber-based solutions.
JPMorgan Chase & Co. raised its position in Mativ Holdings, Inc. (NYSE:MATV - Free Report) by 44.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 284,348 shares of the company's stock after purchasing an additional 87,526 shares during the period. JPMorgan Chase & Co. owned 0.52% of Mativ worth $3,099,000 as of its most recent filing with the Securities and Exchange Commission.
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Other hedge funds and other institutional investors have also modified their holdings of the company. EntryPoint Capital LLC acquired a new stake in Mativ in the fourth quarter valued at $509,000. Barnett & Company Inc. lifted its stake in Mativ by 4.3% during the fourth quarter. Barnett & Company Inc. now owns 202,461 shares of the company's stock worth $2,207,000 after purchasing an additional 8,300 shares during the last quarter. Prudential Financial Inc. boosted its holdings in Mativ by 30.7% in the fourth quarter. Prudential Financial Inc. now owns 240,228 shares of the company's stock valued at $2,873,000 after purchasing an additional 56,358 shares in the last quarter. Sei Investments Co. increased its stake in Mativ by 174.2% in the fourth quarter. Sei Investments Co. now owns 286,992 shares of the company's stock valued at $3,128,000 after purchasing an additional 182,341 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in Mativ by 20.2% during the fourth quarter. American Century Companies Inc. now owns 1,507,418 shares of the company's stock worth $16,431,000 after purchasing an additional 253,365 shares in the last quarter. 94.95% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Separately, Stifel Nicolaus raised shares of Mativ from a "hold" rating to a "buy" rating and dropped their target price for the company from $15.50 to $10.00 in a research report on Monday, March 24th.
Read Our Latest Analysis on MATV
Mativ Stock Down 0.9 %
Shares of NYSE MATV opened at $4.56 on Tuesday. The stock has a market cap of $248.60 million, a PE ratio of -5.07, a price-to-earnings-growth ratio of 1.08 and a beta of 0.68. Mativ Holdings, Inc. has a 52-week low of $4.34 and a 52-week high of $19.96. The business has a 50-day moving average price of $6.27 and a 200 day moving average price of $10.25. The company has a quick ratio of 1.29, a current ratio of 2.40 and a debt-to-equity ratio of 1.28.
Mativ (NYSE:MATV - Get Free Report) last announced its earnings results on Wednesday, February 19th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.22 by ($0.17). The business had revenue of $458.60 million for the quarter, compared to analysts' expectations of $472.70 million. Mativ had a positive return on equity of 3.86% and a negative net margin of 2.46%. Equities research analysts forecast that Mativ Holdings, Inc. will post 1.15 earnings per share for the current year.
Mativ Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 8.77%. The ex-dividend date of this dividend was Friday, March 14th. Mativ's dividend payout ratio is currently -44.44%.
About Mativ
(Free Report)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.
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