Texas Permanent School Fund Corp Increases Position in Mativ Holdings, Inc. (NYSE:MATV)

Texas Permanent School Fund Corp lifted its holdings in shares of Mativ Holdings, Inc. (NYSE:MATV) by 32.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 62,607 shares of the company’s stock after acquiring an additional 15,431 shares during the quarter. Texas Permanent School Fund Corp owned 0.12% of Mativ worth $1,062,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of MATV. ProShare Advisors LLC increased its position in shares of Mativ by 5.9% during the 1st quarter. ProShare Advisors LLC now owns 10,837 shares of the company’s stock valued at $203,000 after purchasing an additional 607 shares during the last quarter. GAMMA Investing LLC grew its position in Mativ by 12.2% during the first quarter. GAMMA Investing LLC now owns 7,402 shares of the company’s stock valued at $139,000 after buying an additional 803 shares during the period. Quadrant Capital Group LLC increased its holdings in Mativ by 93.7% during the fourth quarter. Quadrant Capital Group LLC now owns 2,385 shares of the company’s stock worth $37,000 after buying an additional 1,154 shares during the last quarter. PNC Financial Services Group Inc. raised its position in Mativ by 18.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 8,254 shares of the company’s stock worth $126,000 after acquiring an additional 1,314 shares during the period. Finally, CANADA LIFE ASSURANCE Co boosted its stake in Mativ by 4.9% in the first quarter. CANADA LIFE ASSURANCE Co now owns 40,244 shares of the company’s stock valued at $754,000 after acquiring an additional 1,882 shares during the last quarter. 94.95% of the stock is currently owned by institutional investors.

Mativ Trading Down 5.1 %

Shares of MATV stock opened at $18.01 on Friday. The company has a quick ratio of 1.33, a current ratio of 2.46 and a debt-to-equity ratio of 1.28. The firm has a market cap of $978.36 million, a P/E ratio of -2.98, a PEG ratio of 3.81 and a beta of 0.70. The company has a 50 day moving average of $17.90 and a 200-day moving average of $17.75. Mativ Holdings, Inc. has a 12-month low of $10.78 and a 12-month high of $19.96.

Mativ (NYSE:MATV) last released its earnings results on Wednesday, August 7th. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.13. Mativ had a positive return on equity of 5.19% and a negative net margin of 16.55%. The business had revenue of $523.80 million during the quarter, compared to the consensus estimate of $526.50 million. During the same period last year, the business posted $0.51 earnings per share. Sell-side analysts anticipate that Mativ Holdings, Inc. will post 0.82 earnings per share for the current year.

Mativ Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, August 23rd were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend was Friday, August 23rd. Mativ’s dividend payout ratio (DPR) is presently -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.