Geode Capital Management LLC Increases Stake in Mativ Holdings, Inc. (NYSE:MATV)

Geode Capital Management LLC raised its holdings in shares of Mativ Holdings, Inc. (NYSE:MATV) by 1.2% in the third quarter, Holdings Channel.com reports. The institutional investor owned 1,243,514 shares of the company’s stock after purchasing an additional 14,766 shares during the quarter. Geode Capital Management LLC’s holdings in Mativ were worth $21,132,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. nVerses Capital LLC acquired a new position in Mativ during the third quarter worth about $25,000. Point72 DIFC Ltd purchased a new position in Mativ in the 3rd quarter worth approximately $35,000. Creative Planning boosted its holdings in shares of Mativ by 17.6% during the 3rd quarter. Creative Planning now owns 15,330 shares of the company’s stock worth $260,000 after purchasing an additional 2,295 shares during the last quarter. FMR LLC grew its position in shares of Mativ by 113.3% in the third quarter. FMR LLC now owns 7,716 shares of the company’s stock valued at $131,000 after purchasing an additional 4,098 shares in the last quarter. Finally, Truvestments Capital LLC acquired a new stake in shares of Mativ in the third quarter valued at approximately $82,000. 94.95% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Mativ Trading Down 1.8 %

Shares of MATV opened at $10.98 on Friday. 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 firm has a 50-day moving average price of $13.29 and a 200 day moving average price of $15.93. Mativ Holdings, Inc. has a 12-month low of $10.78 and a 12-month high of $19.96. The firm has a market capitalization of $596.61 million, a P/E ratio of 5.60, a P/E/G ratio of 3.32 and a beta of 0.64.

Mativ Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, November 29th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 3.64%. The ex-dividend date of this dividend was Friday, November 29th. Mativ’s payout ratio is presently 20.41%.

Mativ Company Profile

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.