Truvestments Capital LLC Sells 88,490 Shares of Mativ Holdings, Inc. (NYSE:MATV)

Truvestments Capital LLC lessened its position in shares of Mativ Holdings, Inc. (NYSE:MATV) by 90.7% during the first quarter, HoldingsChannel.com reports. The fund owned 9,098 shares of the company’s stock after selling 88,490 shares during the period. Truvestments Capital LLC’s holdings in Mativ were worth $171,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of MATV. Quadrant Capital Group LLC boosted its position in shares of Mativ by 93.7% during the 4th quarter. Quadrant Capital Group LLC now owns 2,385 shares of the company’s stock valued at $37,000 after acquiring an additional 1,154 shares during the last quarter. GAMMA Investing LLC purchased a new stake in Mativ in the fourth quarter valued at approximately $101,000. SageView Advisory Group LLC bought a new stake in Mativ during the first quarter valued at approximately $108,000. PNC Financial Services Group Inc. grew its stake 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 buying an additional 1,314 shares in the last quarter. Finally, ProShare Advisors LLC increased its holdings in shares of 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 buying an additional 607 shares during the last quarter. 94.95% of the stock is currently owned by hedge funds and other institutional investors.

Mativ Stock Performance

Shares of Mativ stock traded up $0.70 on Friday, hitting $18.72. 296,318 shares of the company traded hands, compared to its average volume of 496,855. Mativ Holdings, Inc. has a 12-month low of $10.78 and a 12-month high of $19.34. The company has a debt-to-equity ratio of 1.29, a quick ratio of 1.40 and a current ratio of 2.54. The firm’s 50-day simple moving average is $17.23 and its 200 day simple moving average is $16.48.

Mativ (NYSE:MATV) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $492.10 million. On average, analysts expect that Mativ Holdings, Inc. will post 1 EPS for the current year.

Mativ Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, May 24th were given a $0.10 dividend. The ex-dividend date was Thursday, May 23rd. This represents a $0.40 annualized dividend and a yield of 2.14%. Mativ’s payout ratio is currently -6.62%.

Mativ 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.