Mativ (NYSE:MATV) Posts Earnings Results, Beats Estimates By $0.22 EPS

Mativ (NYSE:MATV) posted its earnings results on Wednesday. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.22, FiscalAI reports. Mativ had a return on equity of 11.77% and a net margin of 3.86%.The business had revenue of $531.80 million for the quarter, compared to analyst estimates of $508.50 million.

Mativ Stock Performance

Shares of MATV traded up $0.42 during mid-day trading on Wednesday, hitting $9.62. 525,798 shares of the company’s stock were exchanged, compared to its average volume of 454,973. The company has a quick ratio of 1.12, a current ratio of 2.26 and a debt-to-equity ratio of 2.22. Mativ has a 52 week low of $6.27 and a 52 week high of $15.48. The stock’s 50-day simple moving average is $8.03 and its 200-day simple moving average is $9.51. The firm has a market cap of $530.14 million, a price-to-earnings ratio of 7.18 and a beta of 0.87.

Institutional Investors Weigh In On Mativ

Large investors have recently added to or reduced their stakes in the stock. Millennium Management LLC lifted its position in shares of Mativ by 1,978.4% during 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 during the period. UBS Group AG increased its position in shares of Mativ by 144.9% in the third quarter. UBS Group AG now owns 688,273 shares of the company’s stock worth $7,784,000 after purchasing an additional 407,275 shares during the period. Nomura Holdings Inc. acquired a new position in Mativ in the second quarter valued at about $2,450,000. Zacks Investment Management bought a new stake in Mativ during the third quarter worth about $3,561,000. Finally, Arrowstreet Capital Limited Partnership grew its stake in Mativ by 376.6% during the third quarter. Arrowstreet Capital Limited Partnership now owns 350,575 shares of the company’s stock worth $3,965,000 after buying an additional 277,021 shares in the last quarter. Institutional investors and hedge funds own 94.95% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on MATV. Weiss Ratings raised shares of Mativ from a “sell (d-)” rating to a “sell (d+)” rating in a research report on Monday, May 11th. Wall Street Zen downgraded shares of Mativ from a “strong-buy” rating to a “buy” rating in a report on Sunday. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Mativ currently has a consensus rating of “Reduce”.

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.