Mativ (NYSE:MATV) Upgraded to “Strong-Buy” at Wall Street Zen

Mativ (NYSE:MATV) was upgraded by Wall Street Zen from a “buy” rating to a “strong-buy” rating in a note issued to investors on Saturday.

Several other equities analysts have also recently commented on MATV. Weiss Ratings restated a “sell (d-)” rating on shares of Mativ in a research report on Wednesday, October 8th. Zacks Research lowered Mativ from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 7th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Mativ currently has a consensus rating of “Hold” and a consensus target price of $10.00.

Mativ Stock Performance

Mativ stock traded down $0.70 during trading hours on Friday, hitting $12.15. The company had a trading volume of 498,240 shares, compared to its average volume of 713,834. The firm has a 50-day moving average of $11.44 and a 200 day moving average of $8.75. The company has a debt-to-equity ratio of 2.65, a current ratio of 2.37 and a quick ratio of 1.21. The firm has a market cap of $664.00 million, a PE ratio of -1.45 and a beta of 0.86. Mativ has a one year low of $4.34 and a one year high of $14.42.

Mativ (NYSE:MATV) last released its quarterly earnings results on Wednesday, November 5th. The company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.12. Mativ had a positive return on equity of 4.12% and a negative net margin of 23.09%.The business had revenue of $513.70 million during the quarter, compared to analysts’ expectations of $505.00 million. On average, sell-side analysts expect that Mativ will post 1.15 earnings per share for the current year.

Institutional Investors Weigh In On Mativ

Several institutional investors and hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC increased its holdings in Mativ by 1.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 4,194,604 shares of the company’s stock worth $29,614,000 after purchasing an additional 63,276 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Mativ by 3.0% in the 3rd quarter. Vanguard Group Inc. now owns 3,544,584 shares of the company’s stock valued at $40,089,000 after acquiring an additional 103,074 shares in the last quarter. Invenomic Capital Management LP bought a new stake in shares of Mativ in the 1st quarter valued at $13,841,000. American Century Companies Inc. lifted its position in shares of Mativ by 8.1% during the 2nd quarter. American Century Companies Inc. now owns 1,690,831 shares of the company’s stock valued at $11,531,000 after acquiring an additional 126,136 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in Mativ by 116.9% during the third quarter. JPMorgan Chase & Co. now owns 1,222,212 shares of the company’s stock worth $13,823,000 after acquiring an additional 658,748 shares in the last quarter. Institutional investors own 94.95% of the company’s stock.

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.