Renaissance Technologies LLC Purchases New Shares in Mativ Holdings, Inc. (NYSE:MATV)

Renaissance Technologies LLC acquired a new position in shares of Mativ Holdings, Inc. (NYSE:MATV) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 10,912 shares of the company’s stock, valued at approximately $185,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. SageView Advisory Group LLC acquired a new stake in shares of Mativ in the first quarter valued at approximately $108,000. GAMMA Investing LLC increased its stake in shares of Mativ by 12.2% in the 1st quarter. GAMMA Investing LLC now owns 7,402 shares of the company’s stock valued at $139,000 after buying an additional 803 shares during the period. PNC Financial Services Group Inc. raised its position in shares of Mativ by 18.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,254 shares of the company’s stock worth $126,000 after acquiring an additional 1,314 shares during the last quarter. ProShare Advisors LLC lifted its stake in shares of Mativ by 5.9% during the first quarter. ProShare Advisors LLC now owns 10,837 shares of the company’s stock valued at $203,000 after acquiring an additional 607 shares during the period. Finally, Chesapeake Capital Corp IL bought a new position in Mativ in the first quarter valued at about $269,000. Institutional investors and hedge funds own 94.95% of the company’s stock.

Mativ Stock Performance

Shares of NYSE:MATV opened at $16.64 on Monday. The stock has a market capitalization of $904.05 million, a P/E ratio of -2.78, a P/E/G ratio of 3.34 and a beta of 0.70. The company has a current ratio of 2.46, a quick ratio of 1.33 and a debt-to-equity ratio of 1.28. Mativ Holdings, Inc. has a 1-year low of $10.78 and a 1-year high of $19.96. The business has a 50-day moving average price of $17.58 and a two-hundred day moving average price of $17.62.

Mativ (NYSE:MATV) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.13. Mativ had a positive return on equity of 5.19% and a negative net margin of 16.55%. The business had revenue of $523.80 million during the quarter, compared to the consensus estimate of $526.50 million. During the same quarter in the prior year, the company posted $0.51 earnings per share. Equities analysts predict that Mativ Holdings, Inc. will post 0.82 earnings per share for the current year.

Mativ Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, August 23rd were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.40%. Mativ’s dividend payout ratio is -6.68%.

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.