Mativ (NYSE:MATV) Hits New 52-Week Low – Here’s Why

Shares of Mativ Holdings, Inc. (NYSE:MATV) hit a new 52-week low during trading on Tuesday . The stock traded as low as $10.48 and last traded at $10.56, with a volume of 152911 shares trading hands. The stock had previously closed at $10.84.

Wall Street Analyst Weigh In

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

Mativ Stock Performance

The stock has a market cap of $542.27 million, a price-to-earnings ratio of 5.09, a price-to-earnings-growth ratio of 3.32 and a beta of 0.68. The stock’s 50-day simple moving average is $12.59 and its two-hundred day simple moving average is $15.60. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.29 and a current ratio of 2.37.

Mativ Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, November 29th were issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date of this dividend was Friday, November 29th. Mativ’s dividend payout ratio (DPR) is currently 20.41%.

Institutional Investors Weigh In On Mativ

Several hedge funds have recently modified their holdings of the business. nVerses Capital LLC acquired a new stake in shares of Mativ during the 3rd quarter worth approximately $25,000. Point72 DIFC Ltd acquired a new stake in Mativ during the third quarter worth $35,000. Truvestments Capital LLC bought a new stake in Mativ in the 3rd quarter valued at $82,000. FMR LLC raised 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 valued at $131,000 after buying an additional 4,098 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Mativ during the 3rd quarter worth about $146,000. 94.95% of the stock is owned by institutional investors.

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.