Principal Financial Group Inc. Sells 11,881 Shares of Mativ Holdings, Inc. (NYSE:MATV)

Principal Financial Group Inc. lowered its stake in Mativ Holdings, Inc. (NYSE:MATV) by 4.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 262,984 shares of the company’s stock after selling 11,881 shares during the quarter. Principal Financial Group Inc. owned approximately 0.48% of Mativ worth $4,468,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the company. nVerses Capital LLC bought a new position in Mativ during the 3rd quarter worth $25,000. Renaissance Technologies LLC bought a new stake in shares of Mativ in the 2nd quarter valued at about $185,000. Radnor Capital Management LLC bought a new position in Mativ during the 3rd quarter worth approximately $186,000. ProShare Advisors LLC raised its stake in Mativ by 5.9% during the first quarter. ProShare Advisors LLC now owns 10,837 shares of the company’s stock worth $203,000 after buying an additional 607 shares during the last quarter. Finally, Creative Planning increased its holdings in Mativ by 17.6% in the third quarter. Creative Planning now owns 15,330 shares of the company’s stock worth $260,000 after purchasing an additional 2,295 shares in the last quarter. Institutional investors and hedge funds own 94.95% of the company’s stock.

Mativ Stock Up 1.6 %

Mativ stock opened at $12.72 on Friday. The company has a current ratio of 2.37, a quick ratio of 1.29 and a debt-to-equity ratio of 1.31. The firm’s fifty day moving average price is $15.94 and its two-hundred day moving average price is $16.99. The firm has a market capitalization of $691.20 million, a price-to-earnings ratio of 6.52, a price-to-earnings-growth ratio of 3.47 and a beta of 0.70. Mativ Holdings, Inc. has a 1-year low of $10.78 and a 1-year high of $19.96.

Mativ Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, November 29th will be issued a $0.10 dividend. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.14%. Mativ’s dividend payout ratio is presently 20.41%.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus initiated coverage on shares of Mativ in a report on Thursday. They set a “hold” rating and a $15.50 price objective on the stock.

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.