Mativ (NYSE:MATV) Upgraded at Stifel Nicolaus

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 morning, MarketBeat.com reports. The firm currently has $10.00 price target on the stock, down from their prior price target of $15.50.

Mativ Trading Down 0.9 %

MATV opened at $6.47 on Monday. Mativ has a 12-month low of $5.10 and a 12-month high of $19.96. The company has a debt-to-equity ratio of 1.28, a current ratio of 2.40 and a quick ratio of 1.29. The stock has a market capitalization of $352.84 million, a PE ratio of -7.19, a P/E/G ratio of 1.08 and a beta of 0.72. The firm’s fifty day moving average price is $8.03 and its 200 day moving average price is $12.02.

Mativ (NYSE:MATV) last issued its earnings results on Wednesday, February 19th. The company reported $0.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.17). The company had revenue of $458.60 million during the quarter, compared to analyst estimates of $472.70 million. Mativ had a negative net margin of 2.46% and a positive return on equity of 3.86%. As a group, research analysts expect that Mativ will post 1.15 EPS for the current fiscal year.

Mativ Dividend Announcement

The company also recently declared 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 is Friday, March 14th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.18%. Mativ’s dividend payout ratio (DPR) is -44.44%.

Hedge Funds Weigh In On Mativ

Several large investors have recently added to or reduced their stakes in the company. State Street Corp raised its holdings in shares of Mativ by 0.5% during the third quarter. State Street Corp now owns 2,094,310 shares of the company’s stock worth $35,582,000 after purchasing an additional 9,561 shares during the period. American Century Companies Inc. grew its position in shares of Mativ by 20.2% during the 4th quarter. American Century Companies Inc. now owns 1,507,418 shares of the company’s stock valued at $16,431,000 after buying 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 worth $13,606,000 after acquiring an additional 4,386 shares during the period. Royce & Associates LP lifted its holdings in Mativ by 26.1% in the fourth quarter. Royce & Associates LP now owns 1,090,774 shares of the company’s stock worth $11,889,000 after acquiring an additional 226,090 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in Mativ by 62.8% in the fourth quarter. Invesco Ltd. now owns 943,771 shares of the company’s stock valued at $10,287,000 after acquiring an additional 364,117 shares during the period. 94.95% of the stock is currently owned by institutional investors.

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.