JPMorgan Chase & Co. Raises Position in Mativ Holdings, Inc. $MATV

JPMorgan Chase & Co. lifted its holdings in Mativ Holdings, Inc. (NYSE:MATV) by 116.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,222,212 shares of the company’s stock after purchasing an additional 658,748 shares during the quarter. JPMorgan Chase & Co. owned about 2.24% of Mativ worth $13,823,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MATV. Cullen Frost Bankers Inc. purchased a new stake in Mativ in the third quarter valued at about $36,000. Strs Ohio purchased a new position in shares of Mativ in the 3rd quarter valued at approximately $83,000. State of Wyoming acquired a new stake in Mativ in the 3rd quarter worth approximately $100,000. Osaic Holdings Inc. grew its position in Mativ by 939.9% during the 2nd quarter. Osaic Holdings Inc. now owns 11,668 shares of the company’s stock worth $80,000 after purchasing an additional 10,546 shares during the last quarter. Finally, Envestnet Asset Management Inc. purchased a new stake in Mativ during the 3rd quarter worth approximately $144,000. 94.95% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on MATV shares. Wall Street Zen raised shares of Mativ from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 8th. Weiss Ratings reissued a “sell (d)” rating on shares of Mativ in a research report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $10.00.

Mativ Price Performance

Shares of MATV opened at $10.03 on Thursday. The business’s 50-day moving average is $12.66 and its two-hundred day moving average is $12.15. The company has a market capitalization of $549.17 million, a P/E ratio of -1.60 and a beta of 0.80. Mativ Holdings, Inc. has a fifty-two week low of $4.34 and a fifty-two week high of $15.48. The company has a debt-to-equity ratio of 2.07, a quick ratio of 1.08 and a current ratio of 2.24.

Mativ (NYSE:MATV) last issued its quarterly earnings data on Wednesday, February 18th. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.06. The business had revenue of $463.10 million during the quarter, compared to analysts’ expectations of $469.55 million. Mativ had a positive return on equity of 9.79% and a negative net margin of 16.98%. Research analysts predict that Mativ Holdings, Inc. will post 1.15 earnings per share for the current year.

Mativ Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 4.0%. The ex-dividend date is Friday, March 13th. Mativ’s dividend payout ratio is currently -6.39%.

About Mativ

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.