Short Interest in Mativ Holdings, Inc. (NYSE:MATV) Grows By 49.0%

Mativ Holdings, Inc. (NYSE:MATV) was the recipient of a large growth in short interest in the month of February. As of February 28th, there was short interest totalling 2,950,000 shares, a growth of 49.0% from the February 13th total of 1,980,000 shares. Based on an average daily trading volume, of 636,900 shares, the days-to-cover ratio is presently 4.6 days. Approximately 5.5% of the company’s stock are short sold.

Mativ Stock Up 6.6 %

Shares of NYSE:MATV traded up $0.38 during midday trading on Friday, reaching $6.05. The company’s stock had a trading volume of 1,775,486 shares, compared to its average volume of 437,524. The firm has a 50 day moving average of $8.54 and a 200-day moving average of $12.62. The firm has a market capitalization of $329.56 million, a P/E ratio of -6.72, a PEG ratio of 1.08 and a beta of 0.72. The company has a quick ratio of 1.29, a current ratio of 2.40 and a debt-to-equity ratio of 1.28. Mativ has a 12-month low of $5.10 and a 12-month high of $19.96.

Mativ (NYSE:MATV) last released its earnings results on Wednesday, February 19th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.17). Mativ had a positive return on equity of 3.86% and a negative net margin of 2.46%. The business had revenue of $458.60 million during the quarter, compared to analysts’ expectations of $472.70 million. On average, research analysts anticipate 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. Investors of record on Friday, March 14th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 6.62%. The ex-dividend date of this dividend is Friday, March 14th. Mativ’s dividend payout ratio (DPR) is -44.44%.

Institutional Trading of Mativ

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

Analyst Ratings Changes

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

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.