Thrivent Financial for Lutherans Cuts Stock Holdings in Mativ Holdings, Inc. (NYSE:MATV)

Thrivent Financial for Lutherans lowered its holdings in Mativ Holdings, Inc. (NYSE:MATV) by 4.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,096 shares of the company’s stock after selling 1,924 shares during the period. Thrivent Financial for Lutherans owned approximately 0.08% of Mativ worth $765,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. ProShare Advisors LLC grew its holdings in 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 in the last quarter. Texas Permanent School Fund Corp lifted its position in Mativ by 1.5% in the 1st quarter. Texas Permanent School Fund Corp now owns 47,176 shares of the company’s stock valued at $885,000 after purchasing an additional 688 shares during the last quarter. GAMMA Investing LLC lifted its position in Mativ by 12.2% in the 1st quarter. GAMMA Investing LLC now owns 7,402 shares of the company’s stock valued at $139,000 after purchasing an additional 803 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in Mativ by 18.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 8,254 shares of the company’s stock valued at $126,000 after purchasing an additional 1,314 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its stake in Mativ by 4.9% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 40,244 shares of the company’s stock valued at $754,000 after buying an additional 1,882 shares during the period. Institutional investors and hedge funds own 94.95% of the company’s stock.

Mativ Stock Up 0.5 %

Mativ stock opened at $16.14 on Tuesday. The stock has a market cap of $876.77 million, a price-to-earnings ratio of -2.67, a PEG ratio of 3.35 and a beta of 0.70. The company has a current ratio of 2.46, a quick ratio of 1.33 and a debt-to-equity ratio of 1.28. The company’s 50-day moving average price is $17.73 and its two-hundred day moving average price is $17.66. Mativ Holdings, Inc. has a 52 week low of $10.78 and a 52 week high of $19.96.

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

Mativ Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, August 23rd were paid a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date of this dividend was Friday, August 23rd. Mativ’s payout ratio is -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.