Advisors Asset Management Inc. Reduces Stake in Mativ Holdings, Inc. (NYSE:MATV)

Advisors Asset Management Inc. decreased its stake in shares of Mativ Holdings, Inc. (NYSE:MATV) by 6.4% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 35,034 shares of the company’s stock after selling 2,413 shares during the period. Advisors Asset Management Inc. owned 0.06% of Mativ worth $595,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. nVerses Capital LLC purchased a new position in Mativ during the third quarter worth $25,000. Renaissance Technologies LLC purchased a new position in Mativ during the second quarter worth $185,000. Radnor Capital Management LLC acquired a new stake in shares of Mativ during the third quarter worth $186,000. Cornercap Investment Counsel Inc. acquired a new stake in shares of Mativ during the third quarter worth $228,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Mativ during the third quarter worth $252,000. Hedge funds and other institutional investors own 94.95% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus assumed coverage on Mativ in a report on Thursday, November 21st. They set a “hold” rating and a $15.50 price objective on the stock.

Mativ Price Performance

MATV stock opened at $13.52 on Thursday. Mativ Holdings, Inc. has a 52-week low of $10.78 and a 52-week high of $19.96. The stock’s fifty day simple moving average is $15.53 and its 200-day simple moving average is $16.84. The company has a quick ratio of 1.29, a current ratio of 2.37 and a debt-to-equity ratio of 1.31. The stock has a market capitalization of $734.68 million, a price-to-earnings ratio of 6.90, a price-to-earnings-growth ratio of 3.89 and a beta of 0.70.

Mativ Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, November 29th will be issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 2.96%. The ex-dividend date of this dividend is Friday, November 29th. Mativ’s dividend payout ratio (DPR) is 20.41%.

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.