Mativ Holdings, Inc. (NYSE:MATV) Short Interest Down 14.8% in June

Mativ Holdings, Inc. (NYSE:MATV) was the target of a large decline in short interest during the month of June. As of June 30th, there was short interest totalling 1,090,000 shares, a decline of 14.8% from the June 15th total of 1,280,000 shares. Currently, 2.1% of the shares of the company are short sold. Based on an average daily trading volume, of 298,200 shares, the days-to-cover ratio is currently 3.7 days.

Institutional Investors Weigh In On Mativ

Several hedge funds and other institutional investors have recently made changes to their positions in MATV. Quadrant Capital Group LLC increased its holdings in Mativ by 93.7% in the 4th quarter. Quadrant Capital Group LLC now owns 2,385 shares of the company’s stock worth $37,000 after acquiring an additional 1,154 shares in the last quarter. GAMMA Investing LLC purchased a new stake in Mativ in the 4th quarter worth approximately $101,000. SageView Advisory Group LLC purchased a new stake in Mativ in the 1st quarter worth approximately $108,000. PNC Financial Services Group Inc. increased its holdings in Mativ by 18.9% in the 4th 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 in the last quarter. Finally, ProShare Advisors LLC increased its holdings in Mativ by 5.9% in the 1st quarter. ProShare Advisors LLC now owns 10,837 shares of the company’s stock worth $203,000 after acquiring an additional 607 shares in the last quarter. Hedge funds and other institutional investors own 94.95% of the company’s stock.

Mativ Stock Performance

NYSE:MATV traded up $0.91 during mid-day trading on Tuesday, reaching $16.85. The company’s stock had a trading volume of 3,067,825 shares, compared to its average volume of 443,952. Mativ has a 12-month low of $10.78 and a 12-month high of $19.34. The firm’s fifty day moving average price is $17.28 and its two-hundred day moving average price is $16.36. The company has a current ratio of 2.54, a quick ratio of 1.40 and a debt-to-equity ratio of 1.29. The stock has a market cap of $915.34 million, a P/E ratio of -2.79, a PEG ratio of 2.62 and a beta of 0.71.

Mativ (NYSE:MATV) last released its quarterly earnings results on Wednesday, May 8th. The company reported $0.02 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.23). Mativ had a negative net margin of 15.56% and a positive return on equity of 5.79%. The business had revenue of $500.20 million for the quarter, compared to analysts’ expectations of $492.10 million. On average, equities analysts forecast that Mativ will post 1 EPS for the current fiscal year.

Mativ Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, May 24th were given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.37%. The ex-dividend date of this dividend was Thursday, May 23rd. Mativ’s payout ratio is currently -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.