Principal Financial Group Inc. Reduces Stock Position in Mativ Holdings, Inc. (NYSE:MATV)

Principal Financial Group Inc. decreased its position in Mativ Holdings, Inc. (NYSE:MATV) by 0.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 288,217 shares of the company’s stock after selling 1,233 shares during the quarter. Principal Financial Group Inc.’s holdings in Mativ were worth $5,404,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of MATV. PNC Financial Services Group Inc. raised its holdings in shares of Mativ by 264.1% during the third quarter. PNC Financial Services Group Inc. now owns 6,940 shares of the company’s stock valued at $99,000 after acquiring an additional 5,034 shares in the last quarter. Invesco Ltd. lifted its position in shares of Mativ by 2.6% in the 3rd quarter. Invesco Ltd. now owns 504,343 shares of the company’s stock worth $7,192,000 after purchasing an additional 12,903 shares during the period. Natixis Advisors L.P. boosted its stake in shares of Mativ by 9.1% during the 3rd quarter. Natixis Advisors L.P. now owns 151,854 shares of the company’s stock valued at $2,166,000 after purchasing an additional 12,636 shares in the last quarter. Rubric Capital Management LP increased its position in shares of Mativ by 16.4% during the third quarter. Rubric Capital Management LP now owns 4,000,000 shares of the company’s stock valued at $57,040,000 after buying an additional 562,422 shares during the period. Finally, GSA Capital Partners LLP raised its stake in Mativ by 7.2% in the third quarter. GSA Capital Partners LLP now owns 72,064 shares of the company’s stock worth $1,028,000 after buying an additional 4,846 shares in the last quarter. 94.95% of the stock is owned by institutional investors.

Mativ Stock Down 3.0 %

Mativ stock traded down $0.49 during trading hours on Friday, hitting $16.02. 20,220 shares of the stock traded hands, compared to its average volume of 423,448. Mativ Holdings, Inc. has a one year low of $10.78 and a one year high of $19.34. The company has a market cap of $870.21 million, a PE ratio of -2.68, a PEG ratio of 2.75 and a beta of 0.70. The firm’s 50-day moving average price is $17.63 and its two-hundred day moving average price is $16.29. The company has a current ratio of 2.54, a quick ratio of 1.40 and a debt-to-equity ratio of 1.29.

Mativ (NYSE:MATV) last released its earnings results on Wednesday, May 8th. The company reported $0.02 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.23). Mativ had a positive return on equity of 5.79% and a negative net margin of 15.56%. The business had revenue of $500.20 million during the quarter, compared to analysts’ expectations of $492.10 million. On average, research analysts forecast that Mativ Holdings, Inc. will post 1 EPS for the current year.

Mativ Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, May 24th were issued a dividend of $0.10 per share. The ex-dividend date was Thursday, May 23rd. This represents a $0.40 annualized dividend and a dividend yield of 2.50%. Mativ’s payout ratio is -6.62%.

Mativ Company 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.