8,573 Shares in Mativ Holdings, Inc. (NYSE:MATV) Bought by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Mativ Holdings, Inc. (NYSE:MATV) during the third quarter, Holdings Channel.com reports. The fund purchased 8,573 shares of the company’s stock, valued at approximately $146,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Versor Investments LP purchased a new stake in Mativ during the third quarter worth $567,000. AQR Capital Management LLC purchased a new stake in Mativ during the second quarter worth $778,000. First Eagle Investment Management LLC boosted its holdings in Mativ by 9.4% during the second quarter. First Eagle Investment Management LLC now owns 447,104 shares of the company’s stock worth $7,583,000 after buying an additional 38,500 shares in the last quarter. Dark Forest Capital Management LP boosted its holdings in Mativ by 152.2% during the second quarter. Dark Forest Capital Management LP now owns 40,348 shares of the company’s stock worth $684,000 after buying an additional 24,349 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Mativ during the third quarter worth $1,158,000. 94.95% of the stock is owned by hedge funds and other institutional investors.

Mativ Stock Performance

MATV opened at $12.71 on Thursday. Mativ Holdings, Inc. has a 52-week low of $10.78 and a 52-week high of $19.96. The company has a market cap of $690.66 million, a price-to-earnings ratio of 6.48, a PEG ratio of 3.71 and a beta of 0.64. The firm’s fifty day simple moving average is $14.96 and its two-hundred day simple moving average is $16.66. The company has a quick ratio of 1.29, a current ratio of 2.37 and a debt-to-equity ratio of 1.31.

Mativ Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, November 29th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 3.15%. The ex-dividend date is Friday, November 29th. Mativ’s payout ratio is 20.41%.

Analysts Set New Price Targets

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

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.