Needham Investment Management LLC Buys 52,500 Shares of Mativ Holdings, Inc. (NYSE:MATV)

Needham Investment Management LLC increased its position in Mativ Holdings, Inc. (NYSE:MATV) by 12.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 482,500 shares of the company’s stock after acquiring an additional 52,500 shares during the quarter. Needham Investment Management LLC’s holdings in Mativ were worth $8,198,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of MATV. nVerses Capital LLC bought a new stake in shares of Mativ in the third quarter worth about $25,000. Truvestments Capital LLC purchased a new stake in shares of Mativ in the 3rd quarter worth about $82,000. FMR LLC increased its stake in shares of Mativ by 113.3% in the 3rd quarter. FMR LLC now owns 7,716 shares of the company’s stock worth $131,000 after acquiring an additional 4,098 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Mativ during the 3rd quarter valued at about $146,000. Finally, Renaissance Technologies LLC bought a new stake in Mativ during the second quarter worth about $185,000. Institutional investors own 94.95% of the company’s stock.

Mativ Stock Down 2.4 %

Shares of Mativ stock traded down $0.32 on Tuesday, reaching $13.03. The company’s stock had a trading volume of 53,651 shares, compared to its average volume of 401,859. Mativ Holdings, Inc. has a 52 week low of $10.78 and a 52 week high of $19.96. The firm’s fifty day simple moving average is $15.14 and its two-hundred day simple moving average is $16.72. The company has a market capitalization of $708.05 million, a price-to-earnings ratio of 6.81, a P/E/G ratio of 3.65 and a beta of 0.64. The company has a quick ratio of 1.29, a current ratio of 2.37 and a debt-to-equity ratio of 1.31.

Mativ Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, November 29th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 3.07%. The ex-dividend date of this dividend is Friday, November 29th. Mativ’s dividend payout ratio (DPR) is presently 20.41%.

Analyst Upgrades and Downgrades

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