Mativ Holdings, Inc. (NYSE:MATV) Short Interest Update

Mativ Holdings, Inc. (NYSE:MATV) was the recipient of a significant growth in short interest in the month of February. As of February 15th, there was short interest totalling 1,980,000 shares, a growth of 47.8% from the January 31st total of 1,340,000 shares. Based on an average trading volume of 533,400 shares, the days-to-cover ratio is presently 3.7 days. Approximately 3.7% of the shares of the company are short sold.

Institutional Investors Weigh In On Mativ

Several hedge funds have recently modified their holdings of MATV. State Street Corp raised its holdings in Mativ by 0.5% in the 3rd quarter. State Street Corp now owns 2,094,310 shares of the company’s stock worth $35,582,000 after purchasing an additional 9,561 shares during the period. American Century Companies Inc. increased its position in shares of Mativ by 20.2% in the fourth quarter. American Century Companies Inc. now owns 1,507,418 shares of the company’s stock valued at $16,431,000 after buying an additional 253,365 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Mativ by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 1,247,900 shares of the company’s stock worth $13,606,000 after buying an additional 4,386 shares during the period. Royce & Associates LP lifted its position in shares of Mativ by 26.1% during the 4th quarter. Royce & Associates LP now owns 1,090,774 shares of the company’s stock valued at $11,889,000 after buying an additional 226,090 shares in the last quarter. Finally, Invesco Ltd. grew its stake in Mativ by 62.8% in the 4th quarter. Invesco Ltd. now owns 943,771 shares of the company’s stock valued at $10,287,000 after acquiring an additional 364,117 shares during the period. 94.95% of the stock is owned by hedge funds and other institutional investors.

Mativ Stock Performance

Shares of MATV traded up $0.18 during mid-day trading on Tuesday, reaching $6.15. The company had a trading volume of 1,081,154 shares, compared to its average volume of 567,135. The stock has a 50 day moving average of $9.34 and a two-hundred day moving average of $13.36. The company has a quick ratio of 1.29, a current ratio of 2.40 and a debt-to-equity ratio of 1.28. The stock has a market capitalization of $333.89 million, a P/E ratio of -6.83, a PEG ratio of 1.08 and a beta of 0.66. Mativ has a 52-week low of $5.74 and a 52-week high of $19.96.

Mativ (NYSE:MATV) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.17). The company had revenue of $458.60 million during 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%. On average, analysts expect that Mativ will post 1.15 earnings per share for the current year.

Mativ Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a $0.10 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.40 dividend on an annualized basis and a yield of 6.51%. Mativ’s payout ratio is -44.44%.

Analysts Set New Price Targets

Separately, Stifel Nicolaus assumed coverage on shares of Mativ in a research report on Thursday, November 21st. They set a “hold” rating and a $15.50 target price for the company.

About Mativ

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.