Stifel Nicolaus Upgrades Mativ (NYSE:MATV) to “Buy”

Stifel Nicolaus upgraded shares of Mativ (NYSE:MATV) from a hold rating to a buy rating in a research report sent to investors on Monday, MarketBeat Ratings reports. Stifel Nicolaus currently has $10.00 price target on the stock, down from their previous price target of $15.50.

Mativ Trading Up 9.4 %

Shares of MATV opened at $6.67 on Monday. The firm has a market cap of $363.36 million, a P/E ratio of -7.41, a price-to-earnings-growth ratio of 1.08 and a beta of 0.72. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.40 and a quick ratio of 1.29. Mativ has a 1 year low of $5.10 and a 1 year high of $19.96. The company has a 50 day simple moving average of $8.09 and a two-hundred day simple moving average of $12.10.

Mativ (NYSE:MATV) last issued 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). The company had revenue of $458.60 million for the quarter, compared to the consensus estimate of $472.70 million. Mativ had a positive return on equity of 3.86% and a negative net margin of 2.46%. On average, equities analysts expect that Mativ will post 1.15 earnings per share for the current fiscal year.

Mativ Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.40 annualized dividend and a dividend yield of 6.00%. Mativ’s dividend payout ratio (DPR) is -44.44%.

Hedge Funds Weigh In On Mativ

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Street Corp increased its stake in Mativ by 0.5% in the 3rd quarter. State Street Corp now owns 2,094,310 shares of the company’s stock worth $35,582,000 after acquiring an additional 9,561 shares during the last quarter. American Century Companies Inc. increased its position in Mativ by 20.2% in the fourth quarter. American Century Companies Inc. now owns 1,507,418 shares of the company’s stock worth $16,431,000 after purchasing an additional 253,365 shares during the last quarter. Geode Capital Management LLC raised its stake in Mativ by 0.4% during the fourth 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 in the last quarter. Royce & Associates LP lifted its position in Mativ by 26.1% during the fourth 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 stake in shares of Mativ by 62.8% in the 4th quarter. Invesco Ltd. now owns 943,771 shares of the company’s stock worth $10,287,000 after buying an additional 364,117 shares in the last quarter. 94.95% of the stock is owned by institutional investors.

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.