Mativ Holdings, Inc. Announces Quarterly Dividend of $0.10 (NYSE:MATV)

Mativ Holdings, Inc. (NYSE:MATV) announced a quarterly dividend on Thursday, May 8th, Wall Street Journal reports. Stockholders of record on Friday, May 23rd will be given a dividend of 0.10 per share on Friday, June 27th. This represents a $0.40 annualized dividend and a dividend yield of 6.60%. The ex-dividend date of this dividend is Friday, May 23rd.

Mativ has decreased its dividend payment by an average of 39.0% per year over the last three years and has increased its dividend every year for the last 1 years. Mativ has a dividend payout ratio of 43.0% meaning its dividend is sufficiently covered by earnings. Research analysts expect Mativ to earn $1.40 per share next year, which means the company should continue to be able to cover its $0.40 annual dividend with an expected future payout ratio of 28.6%.

Mativ Price Performance

Shares of NYSE:MATV opened at $6.06 on Wednesday. The business has a 50 day moving average price of $5.53 and a 200 day moving average price of $8.75. Mativ has a twelve month low of $4.34 and a twelve month high of $19.96. The company has a market cap of $330.38 million, a price-to-earnings ratio of -6.73, a PEG ratio of 1.08 and a beta of 0.61. The company has a quick ratio of 1.29, a current ratio of 2.40 and a debt-to-equity ratio of 1.28.

Mativ (NYSE:MATV) last announced its earnings results on Wednesday, May 7th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.03). Mativ had a negative net margin of 2.46% and a positive return on equity of 3.86%. The business had revenue of $484.80 million for the quarter, compared to the consensus estimate of $470.30 million. Research analysts predict that Mativ will post 1.15 earnings per share for the current year.

Hedge Funds Weigh In On Mativ

Several large investors have recently added to or reduced their stakes in the company. Empowered Funds LLC raised its holdings in Mativ by 6.0% in the 1st quarter. Empowered Funds LLC now owns 319,593 shares of the company’s stock valued at $1,991,000 after acquiring an additional 18,161 shares in the last quarter. Millennium Management LLC raised its holdings in Mativ by 1,978.4% in the 1st quarter. Millennium Management LLC now owns 996,673 shares of the company’s stock valued at $6,209,000 after acquiring an additional 948,720 shares in the last quarter. AQR Capital Management LLC raised its holdings in Mativ by 119.8% in the 1st quarter. AQR Capital Management LLC now owns 167,517 shares of the company’s stock valued at $1,044,000 after acquiring an additional 91,301 shares in the last quarter. Finally, Royal Bank of Canada raised its holdings in Mativ by 31.3% in the 1st quarter. Royal Bank of Canada now owns 45,795 shares of the company’s stock valued at $286,000 after acquiring an additional 10,927 shares in the last quarter. Institutional investors and hedge funds own 94.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus raised Mativ from a “hold” rating to a “buy” rating and cut their price target for the company from $15.50 to $10.00 in a report on Monday, March 24th.

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.