Mativ (NYSE:MATV) Releases Quarterly Earnings Results, Beats Estimates By $0.22 EPS

Mativ (NYSE:MATV) posted its earnings results on Wednesday. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.22, FiscalAI reports. The company had revenue of $531.80 million during the quarter, compared to analyst estimates of $508.50 million. Mativ had a net margin of 3.86% and a return on equity of 11.77%.

Mativ Stock Up 19.6%

NYSE:MATV traded up $1.88 during trading hours on Thursday, reaching $11.45. 783,786 shares of the company traded hands, compared to its average volume of 436,083. The business’s 50-day moving average price is $8.03 and its two-hundred day moving average price is $9.51. The stock has a market capitalization of $630.81 million, a P/E ratio of 8.55 and a beta of 0.87. Mativ has a 1 year low of $7.07 and a 1 year high of $15.48. The company has a current ratio of 2.26, a quick ratio of 1.12 and a debt-to-equity ratio of 2.22.

Mativ Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Stockholders of record on Friday, August 28th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Friday, August 28th. Mativ’s dividend payout ratio (DPR) is presently 29.85%.

Analyst Upgrades and Downgrades

MATV has been the subject of a number of recent analyst reports. Wall Street Zen lowered Mativ from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Weiss Ratings upgraded Mativ from a “sell (d-)” rating to a “sell (d+)” rating in a report on Monday, May 11th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Reduce”.

Hedge Funds Weigh In On Mativ

Several institutional investors and hedge funds have recently modified their holdings of MATV. Vanguard Group Inc. boosted its stake in Mativ by 3.0% in the 3rd quarter. Vanguard Group Inc. now owns 3,544,584 shares of the company’s stock worth $40,089,000 after purchasing an additional 103,074 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Mativ by 5.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,169,973 shares of the company’s stock worth $26,367,000 after buying an additional 111,722 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Mativ by 11.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,787,617 shares of the company’s stock worth $21,720,000 after buying an additional 188,677 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Mativ by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 1,289,632 shares of the company’s stock worth $15,672,000 after buying an additional 8,891 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in shares of 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 buying an additional 948,720 shares during the last quarter. 94.95% of the stock is currently owned by institutional investors.

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.