Geode Capital Management LLC Grows Stock Position in Mativ Holdings, Inc. (NYSE:MATV)

Geode Capital Management LLC lifted its stake in Mativ Holdings, Inc. (NYSE:MATV) by 1.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,243,514 shares of the company’s stock after buying an additional 14,766 shares during the quarter. Geode Capital Management LLC owned approximately 2.29% of Mativ worth $21,132,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. nVerses Capital LLC purchased a new position in Mativ in the third quarter valued at $25,000. Point72 DIFC Ltd acquired a new stake in shares of Mativ during the 3rd quarter valued at about $35,000. Creative Planning increased its stake in shares of Mativ by 17.6% in the 3rd quarter. Creative Planning now owns 15,330 shares of the company’s stock valued at $260,000 after purchasing an additional 2,295 shares in the last quarter. FMR LLC raised its holdings in Mativ by 113.3% in the 3rd quarter. FMR LLC now owns 7,716 shares of the company’s stock worth $131,000 after purchasing an additional 4,098 shares during the period. Finally, Truvestments Capital LLC purchased a new position in Mativ during the third quarter worth approximately $82,000. 94.95% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Mativ Price Performance

Shares of NYSE MATV opened at $10.98 on Friday. 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 firm has a market cap of $596.61 million, a PE ratio of 5.60, a PEG ratio of 3.32 and a beta of 0.64. Mativ Holdings, Inc. has a one year low of $10.78 and a one year high of $19.96. The firm has a fifty day moving average of $13.29 and a 200 day moving average of $15.93.

Mativ Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, November 29th were given a dividend of $0.10 per share. The ex-dividend date was Friday, November 29th. This represents a $0.40 annualized dividend and a dividend yield of 3.64%. Mativ’s dividend payout ratio (DPR) is presently 20.41%.

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.