Short Interest in Mativ Holdings, Inc. (NYSE:MATV) Increases By 47.8%

Mativ Holdings, Inc. (NYSE:MATV) saw a large increase in short interest during the month of February. As of February 15th, there was short interest totalling 1,980,000 shares, an increase of 47.8% from the January 31st total of 1,340,000 shares. Based on an average daily volume of 533,400 shares, the days-to-cover ratio is currently 3.7 days. Currently, 3.7% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus started coverage on shares of Mativ in a research report on Thursday, November 21st. They issued a “hold” rating and a $15.50 target price for the company.

Hedge Funds Weigh In On Mativ

A number of institutional investors have recently bought and sold shares of the company. Federated Hermes Inc. acquired a new stake in shares of Mativ during the 4th quarter worth approximately $33,000. Point72 DIFC Ltd purchased a new position in Mativ in the third quarter worth approximately $35,000. KBC Group NV grew its position in Mativ by 93.2% in the fourth quarter. KBC Group NV now owns 4,787 shares of the company’s stock worth $52,000 after acquiring an additional 2,309 shares during the period. Truvestments Capital LLC acquired a new stake in Mativ during the third quarter worth $82,000. Finally, Quantbot Technologies LP purchased a new stake in Mativ in the fourth quarter valued at $122,000. 94.95% of the stock is owned by hedge funds and other institutional investors.

Mativ Price Performance

MATV traded up $0.18 during trading on Tuesday, reaching $6.15. The company’s stock had a trading volume of 1,081,154 shares, compared to its average volume of 567,135. The company has a quick ratio of 1.29, a current ratio of 2.40 and a debt-to-equity ratio of 1.28. The firm has a fifty day simple moving average of $9.34 and a two-hundred day simple moving average of $13.36. The company has a market cap of $333.89 million, a price-to-earnings ratio of -6.83, a PEG ratio of 1.08 and a beta of 0.66. Mativ has a 1 year low of $5.74 and a 1 year high of $19.96.

Mativ (NYSE:MATV) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.05 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.17). Mativ had a positive return on equity of 3.86% and a negative net margin of 2.46%. The company had revenue of $458.60 million for the quarter, compared to analyst estimates of $472.70 million. As a group, analysts anticipate that Mativ will post 1.15 EPS for the current year.

Mativ Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 6.51%. The ex-dividend date is Friday, March 14th. Mativ’s dividend payout ratio is currently -44.44%.

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.