68,176 Shares in Mativ Holdings, Inc. (NYSE:MATV) Acquired by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd bought a new stake in Mativ Holdings, Inc. (NYSE:MATV) during the third quarter, HoldingsChannel reports. The institutional investor bought 68,176 shares of the company’s stock, valued at approximately $1,158,000.

A number of other large investors also recently added to or reduced their stakes in MATV. nVerses Capital LLC purchased a new stake in shares of Mativ in the 3rd quarter valued at $25,000. Renaissance Technologies LLC purchased a new stake in Mativ during the second quarter worth about $185,000. Radnor Capital Management LLC acquired a new stake in shares of Mativ during the third quarter worth about $186,000. ProShare Advisors LLC boosted its stake in shares of Mativ by 5.9% in the first quarter. ProShare Advisors LLC now owns 10,837 shares of the company’s stock valued at $203,000 after purchasing an additional 607 shares during the period. Finally, Cornercap Investment Counsel Inc. acquired a new position in shares of Mativ in the third quarter valued at approximately $228,000. 94.95% of the stock is currently owned by institutional investors and hedge funds.

Mativ Trading Down 3.9 %

MATV opened at $13.47 on Wednesday. The company has a debt-to-equity ratio of 1.31, a current ratio of 2.37 and a quick ratio of 1.29. The stock has a market capitalization of $731.96 million, a price-to-earnings ratio of 7.14, a PEG ratio of 3.66 and a beta of 0.70. The business has a fifty day moving average price of $15.64 and a 200 day moving average price of $16.88. Mativ Holdings, Inc. has a 12 month low of $10.78 and a 12 month high of $19.96.

Mativ Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, November 29th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.97%. Mativ’s payout ratio is 20.41%.

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 for the company.

Mativ 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.