Zurcher Kantonalbank Zurich Cantonalbank Trims Stock Position in Mativ Holdings, Inc. (NYSE:MATV)

Zurcher Kantonalbank Zurich Cantonalbank decreased its holdings in Mativ Holdings, Inc. (NYSE:MATV) by 23.9% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 8,628 shares of the company’s stock after selling 2,713 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Mativ were worth $146,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. boosted its stake in shares of Mativ by 579.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,713,790 shares of the company’s stock worth $26,238,000 after acquiring an additional 1,461,640 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Mativ by 2,139.3% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 527,633 shares of the company’s stock valued at $9,893,000 after buying an additional 504,071 shares in the last quarter. Vaughan Nelson Investment Management L.P. lifted its position in shares of Mativ by 31.4% during the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,367,428 shares of the company’s stock valued at $25,639,000 after buying an additional 326,560 shares in the last quarter. First Eagle Investment Management LLC grew its stake in shares of Mativ by 70.2% during the 4th quarter. First Eagle Investment Management LLC now owns 317,412 shares of the company’s stock valued at $4,860,000 after acquiring an additional 130,912 shares during the period. Finally, Wellington Management Group LLP increased its holdings in Mativ by 3.8% in the 4th quarter. Wellington Management Group LLP now owns 3,583,501 shares of the company’s stock worth $54,863,000 after acquiring an additional 130,362 shares in the last quarter. 94.95% of the stock is currently owned by institutional investors.

Mativ Price Performance

Shares of NYSE:MATV opened at $17.57 on Tuesday. The company has a market capitalization of $954.58 million, a P/E ratio of -2.91, a P/E/G ratio of 3.66 and a beta of 0.70. Mativ Holdings, Inc. has a 1-year low of $10.78 and a 1-year high of $19.62. The firm’s 50 day simple moving average is $17.50 and its two-hundred day simple moving average is $17.68. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.46 and a quick ratio of 1.33.

Mativ (NYSE:MATV) last announced its quarterly earnings data on Wednesday, August 7th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.21 by $0.13. The firm had revenue of $523.80 million for the quarter, compared to the consensus estimate of $526.50 million. Mativ had a negative net margin of 16.55% and a positive return on equity of 5.19%. During the same period last year, the firm earned $0.51 EPS. Research analysts expect that Mativ Holdings, Inc. will post 0.82 EPS for the current fiscal year.

Mativ Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, August 23rd will be given a $0.10 dividend. The ex-dividend date of this dividend is Friday, August 23rd. This represents a $0.40 annualized dividend and a dividend yield of 2.28%. Mativ’s payout ratio is -6.62%.

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.