First Eagle Investment Management LLC Buys 133,500 Shares of Mativ Holdings, Inc. $MATV

First Eagle Investment Management LLC lifted its stake in Mativ Holdings, Inc. (NYSE:MATV) by 15.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,013,390 shares of the company’s stock after purchasing an additional 133,500 shares during the quarter. First Eagle Investment Management LLC’s holdings in Mativ were worth $11,461,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. SummerHaven Investment Management LLC purchased a new position in shares of Mativ during the 3rd quarter worth about $1,255,000. Teacher Retirement System of Texas purchased a new stake in Mativ in the 2nd quarter worth about $1,470,000. American Century Companies Inc. lifted its stake in Mativ by 8.1% in the second quarter. American Century Companies Inc. now owns 1,690,831 shares of the company’s stock worth $11,531,000 after purchasing an additional 126,136 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in Mativ in the second quarter worth about $191,000. Finally, Corton Capital Inc. purchased a new position in shares of Mativ during the second quarter valued at approximately $137,000. Hedge funds and other institutional investors own 94.95% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MATV. Wall Street Zen upgraded Mativ from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 8th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Mativ in a research report on Monday, December 29th. One equities research 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 MarketBeat, the stock has an average rating of “Hold” and an average price target of $10.00.

Mativ Trading Down 5.8%

MATV opened at $10.06 on Wednesday. The company has a market capitalization of $551.09 million, a P/E ratio of -1.61 and a beta of 0.80. The stock’s fifty day moving average is $12.70 and its two-hundred day moving average is $12.17. 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 posted its earnings results on Wednesday, February 18th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates 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 company had revenue of $463.10 million during the quarter, compared to analyst estimates of $469.55 million. Analysts forecast 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. Investors of record on Friday, March 13th will be given a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.40 dividend on an annualized basis and a yield of 4.0%. Mativ’s dividend payout ratio (DPR) is presently -6.39%.

Mativ Company 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.