Invenomic Capital Management LP Lowers Stock Position in Mativ Holdings, Inc. $MATV

Invenomic Capital Management LP trimmed its position in shares of Mativ Holdings, Inc. (NYSE:MATV) by 20.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,688,881 shares of the company’s stock after selling 431,095 shares during the period. Invenomic Capital Management LP owned approximately 3.09% of Mativ worth $19,101,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in MATV. Millennium Management LLC grew its position in Mativ by 1,978.4% during the first quarter. Millennium Management LLC now owns 996,673 shares of the company’s stock valued at $6,209,000 after acquiring an additional 948,720 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Mativ by 116.9% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,222,212 shares of the company’s stock worth $13,823,000 after purchasing an additional 658,748 shares during the period. UBS Group AG increased its position in Mativ by 144.9% during the 3rd quarter. UBS Group AG now owns 688,273 shares of the company’s stock worth $7,784,000 after purchasing an additional 407,275 shares in the last quarter. Nomura Holdings Inc. purchased a new position in Mativ in the second quarter valued at approximately $2,450,000. Finally, Zacks Investment Management acquired a new position in Mativ during the third quarter valued at approximately $3,561,000. 94.95% of the stock is owned by hedge funds and other institutional investors.

Mativ Trading Down 3.3%

NYSE:MATV opened at $8.83 on Monday. The company has a market cap of $483.71 million, a PE ratio of -1.41 and a beta of 0.80. The business’s 50 day moving average is $12.24 and its two-hundred day moving average is $12.01. The company has a quick ratio of 1.08, a current ratio of 2.24 and a debt-to-equity ratio of 2.07. Mativ Holdings, Inc. has a 52 week low of $4.34 and a 52 week high of $15.48.

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

Mativ Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th will be paid a dividend of $0.10 per share. The ex-dividend date is Friday, March 13th. This represents a $0.40 annualized dividend and a yield of 4.5%. Mativ’s dividend payout ratio is -6.39%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Mativ in a research note on Monday, December 29th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $10.00.

Mativ 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.