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

Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Mativ Holdings, Inc. (NYSE:MATV) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 14,848 shares of the company’s stock, valued at approximately $252,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. American Century Companies Inc. grew its holdings in Mativ by 67.2% during the second 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 period. Vaughan Nelson Investment Management L.P. increased its holdings in Mativ by 12.9% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,544,028 shares of the company’s stock worth $26,187,000 after acquiring an additional 176,600 shares during the last quarter. Tidal Investments LLC bought a new stake in Mativ in the 1st quarter valued at about $1,033,000. Dimensional Fund Advisors LP lifted its holdings in Mativ by 2.5% during the second quarter. Dimensional Fund Advisors LP now owns 2,154,818 shares of the company’s stock valued at $36,546,000 after purchasing an additional 52,858 shares during the last quarter. Finally, Rothschild Investment LLC bought a new position in Mativ during the second quarter worth about $869,000. 94.95% of the stock is owned by hedge funds and other institutional investors.

Mativ Trading Down 2.8 %

Shares of Mativ stock opened at $13.15 on Monday. The company has a 50 day simple moving average of $15.21 and a two-hundred day simple moving average of $16.76. The firm has a market cap 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 1 year low of $10.78 and a 1 year high of $19.96. The company has a debt-to-equity ratio of 1.31, a current ratio of 2.37 and a quick ratio of 1.29.

Mativ Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, November 29th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 3.04%. The ex-dividend date of this dividend is Friday, November 29th. Mativ’s dividend payout ratio is presently 20.41%.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus started coverage on Mativ in a report on Thursday, November 21st. They issued a “hold” rating and a $15.50 price target 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.