Thrivent Financial for Lutherans Sells 2,434 Shares of Mativ Holdings, Inc. (NYSE:MATV)

Thrivent Financial for Lutherans reduced its position in Mativ Holdings, Inc. (NYSE:MATV) by 5.4% during the third quarter, Holdings Channel.com reports. The firm owned 42,662 shares of the company’s stock after selling 2,434 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Mativ were worth $725,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. Allspring Global Investments Holdings LLC raised its holdings in Mativ by 0.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 4,037,011 shares of the company’s stock worth $68,589,000 after buying an additional 25,885 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Mativ by 2.5% during the second quarter. Dimensional Fund Advisors LP now owns 2,154,818 shares of the company’s stock worth $36,546,000 after acquiring an additional 52,858 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its holdings in shares of Mativ by 12.9% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,544,028 shares of the company’s stock worth $26,187,000 after acquiring an additional 176,600 shares during the last quarter. Royce & Associates LP lifted its position in Mativ by 4.8% in the 3rd quarter. Royce & Associates LP now owns 864,684 shares of the company’s stock valued at $14,691,000 after acquiring an additional 39,690 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in Mativ by 67.2% during the 2nd quarter. American Century Companies Inc. now owns 749,967 shares of the company’s stock valued at $12,719,000 after purchasing an additional 301,488 shares during the last quarter. Institutional investors and hedge funds own 94.95% of the company’s stock.

Mativ Price Performance

Shares of NYSE:MATV opened at $12.74 on Wednesday. The company has a current ratio of 2.37, a quick ratio of 1.29 and a debt-to-equity ratio of 1.31. The stock has a market cap of $692.02 million, a PE ratio of 6.50, a price-to-earnings-growth ratio of 3.71 and a beta of 0.64. The stock’s fifty day simple moving average is $15.04 and its two-hundred day simple moving average is $16.68. Mativ Holdings, Inc. has a 1-year low of $10.78 and a 1-year high of $19.96.

Mativ Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, November 29th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 3.14%. The ex-dividend date is Friday, November 29th. Mativ’s dividend payout ratio (DPR) is presently 20.41%.

Analysts Set New Price Targets

Separately, Stifel Nicolaus assumed coverage on Mativ in a research note on Thursday, November 21st. They issued a “hold” rating and a $15.50 price objective 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.