Connor Clark & Lunn Investment Management Ltd. Takes $252,000 Position in Mativ Holdings, Inc. (NYSE:MATV)

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Mativ Holdings, Inc. (NYSE:MATV) in the 3rd quarter, Holdings Channel.com reports. The institutional investor acquired 14,848 shares of the company’s stock, valued at approximately $252,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its holdings in shares of Mativ by 0.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 4,037,011 shares of the company’s stock worth $68,589,000 after acquiring an additional 25,885 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Mativ by 2.5% in the second quarter. Dimensional Fund Advisors LP now owns 2,154,818 shares of the company’s stock valued at $36,546,000 after acquiring an additional 52,858 shares during the period. Vaughan Nelson Investment Management L.P. boosted its position in Mativ by 12.9% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,544,028 shares of the company’s stock worth $26,187,000 after purchasing an additional 176,600 shares during the last quarter. Royce & Associates LP grew its stake in shares of Mativ by 4.8% during the 3rd quarter. Royce & Associates LP now owns 864,684 shares of the company’s stock valued at $14,691,000 after purchasing an additional 39,690 shares during the period. Finally, American Century Companies Inc. increased its position in shares of Mativ by 67.2% during the 2nd quarter. American Century Companies Inc. now owns 749,967 shares of the company’s stock valued at $12,719,000 after purchasing an additional 301,488 shares during the last quarter. Institutional investors own 94.95% of the company’s stock.

Mativ Trading Down 2.8 %

Shares of MATV stock opened at $13.15 on Monday. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.29 and a current ratio of 2.37. The stock has a fifty day simple moving average of $15.21 and a two-hundred day simple moving average of $16.76. The firm has a market capitalization of $714.57 million, a PE ratio of 6.71, a PEG ratio of 3.65 and a beta of 0.70. Mativ Holdings, Inc. has a 52-week low of $10.78 and a 52-week high of $19.96.

Mativ Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, November 29th will be given a $0.10 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.04%. Mativ’s dividend payout ratio is currently 20.41%.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus initiated coverage on shares of Mativ in a research report on Thursday, November 21st. They set a “hold” rating and a $15.50 target price for the company.

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.