Mativ (NYSE:MATV) Releases Earnings Results, Beats Expectations By $0.22 EPS

Mativ (NYSE:MATV) issued its quarterly earnings data on Wednesday. The company reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.22, FiscalAI reports. Mativ had a return on equity of 13.64% and a net margin of 4.50%.The business had revenue of $531.80 million during the quarter, compared to analysts’ expectations of $508.50 million.

Mativ Stock Performance

Mativ stock traded up $1.16 during midday trading on Friday, hitting $12.84. 1,159,372 shares of the company’s stock were exchanged, compared to its average volume of 443,341. Mativ has a 12-month low of $7.07 and a 12-month high of $15.48. The company has a debt-to-equity ratio of 2.22, a quick ratio of 1.12 and a current ratio of 2.26. The stock has a market cap of $707.58 million, a price-to-earnings ratio of 8.12 and a beta of 0.87. The firm’s 50 day simple moving average is $8.08 and its 200 day simple moving average is $9.51.

Mativ Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, August 28th will be paid a dividend of $0.10 per share. The ex-dividend date is Friday, August 28th. This represents a $0.40 dividend on an annualized basis and a yield of 3.1%. Mativ’s dividend payout ratio is currently 29.85%.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Wall Street Zen cut Mativ from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 2nd. Weiss Ratings upgraded shares of Mativ from a “sell (d-)” rating to a “sell (d+)” rating in a report on Monday, May 11th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce”.

Institutional Investors Weigh In On Mativ

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in 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 during the period. Dimensional Fund Advisors LP lifted its position in Mativ by 5.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,169,973 shares of the company’s stock worth $26,367,000 after acquiring an additional 111,722 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Mativ by 11.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,787,617 shares of the company’s stock worth $21,720,000 after acquiring an additional 188,677 shares during the period. Geode Capital Management LLC grew its stake in shares of Mativ by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 1,289,632 shares of the company’s stock valued at $15,672,000 after purchasing an additional 8,891 shares during the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Mativ by 1,978.4% in the first quarter. Millennium Management LLC now owns 996,673 shares of the company’s stock valued at $6,209,000 after purchasing an additional 948,720 shares during the period. 94.95% of the stock is owned by hedge funds and other institutional investors.

Mativ Company Profile

Mativ is a global supplier of specialty fiber-based materials and engineered solutions, established in April 2021 through the spin-off of Ahlstrom-Munksjö’s global filtration and engineered materials business. Trading on the New York Stock Exchange under the ticker MATV, the company focuses on designing and manufacturing high-performance products for a broad range of end markets, including life sciences, energy storage, industrial filtration, and consumer products.

Through its Advanced Solutions segment, Mativ produces innovative materials such as lithium-ion battery separators, specialty release liners, and pressure-sensitive adhesive tapes.