Mativ (NYSE:MATV) Upgraded to Strong-Buy at Wall Street Zen

Wall Street Zen upgraded shares of Mativ (NYSE:MATV) from a buy rating to a strong-buy rating in a report released on Saturday morning.

Separately, Weiss Ratings upgraded Mativ from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Monday, May 11th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Mativ has an average rating of “Reduce”.

Mativ Stock Performance

MATV stock opened at $8.13 on Friday. The firm has a 50 day simple moving average of $7.99 and a 200 day simple moving average of $9.76. The stock has a market cap of $448.40 million, a P/E ratio of 6.07 and a beta of 0.89. Mativ has a 52 week low of $6.17 and a 52 week high of $15.48. The company has a debt-to-equity ratio of 2.22, a quick ratio of 1.12 and a current ratio of 2.26.

Mativ (NYSE:MATV) last released its quarterly earnings data on Wednesday, May 6th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.04. Mativ had a net margin of 3.86% and a return on equity of 11.77%. The business had revenue of $479.60 million during the quarter, compared to analyst estimates of $486.90 million. Research analysts anticipate that Mativ will post 0.85 earnings per share for the current fiscal year.

Mativ Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 19th. Investors of record on Friday, May 29th were issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date was Friday, May 29th. Mativ’s payout ratio is presently 29.85%.

Institutional Investors Weigh In On Mativ

A number of institutional investors have recently made changes to their positions in the company. Royal Bank of Canada grew its position in shares of Mativ by 31.3% during the 1st quarter. Royal Bank of Canada now owns 45,795 shares of the company’s stock worth $286,000 after purchasing an additional 10,927 shares in the last quarter. AQR Capital Management LLC raised its holdings in Mativ by 119.8% in the 1st quarter. AQR Capital Management LLC now owns 167,517 shares of the company’s stock valued at $1,044,000 after acquiring an additional 91,301 shares in the last quarter. Millennium Management LLC lifted its position in shares of Mativ by 1,978.4% during the 1st quarter. Millennium Management LLC now owns 996,673 shares of the company’s stock valued at $6,209,000 after acquiring an additional 948,720 shares during the period. Empowered Funds LLC grew its holdings in shares of Mativ by 6.0% during the 1st quarter. Empowered Funds LLC now owns 319,593 shares of the company’s stock worth $1,991,000 after purchasing an additional 18,161 shares in the last quarter. Finally, Creative Planning bought a new position in shares of Mativ in the second quarter worth $159,000. Institutional investors own 94.95% of the company’s stock.

About Mativ

Mativ is a global supplier of specialty fiber-based materials and engineered solutions, established in April 2021 through the spin-off of Ahlstrom-Munksjö’s global filtration and engineered materials business. Trading on the New York Stock Exchange under the ticker MATV, the company focuses on designing and manufacturing high-performance products for a broad range of end markets, including life sciences, energy storage, industrial filtration, and consumer products.

Through its Advanced Solutions segment, Mativ produces innovative materials such as lithium-ion battery separators, specialty release liners, and pressure-sensitive adhesive tapes.