Allspring Global Investments Holdings LLC Sells 123,374 Shares of Mativ Holdings, Inc. (NYSE:MATV)

Allspring Global Investments Holdings LLC cut its holdings in Mativ Holdings, Inc. (NYSE:MATV) by 3.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,913,637 shares of the company’s stock after selling 123,374 shares during the period. Allspring Global Investments Holdings LLC owned 7.20% of Mativ worth $41,954,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. nVerses Capital LLC purchased a new stake in Mativ in the 3rd quarter worth approximately $25,000. Point72 DIFC Ltd purchased a new stake in shares of Mativ in the third quarter worth $35,000. Creative Planning raised its position in shares of Mativ by 17.6% during the 3rd quarter. Creative Planning now owns 15,330 shares of the company’s stock valued at $260,000 after purchasing an additional 2,295 shares during the period. KBC Group NV lifted its stake in shares of Mativ by 93.2% during the 4th quarter. KBC Group NV now owns 4,787 shares of the company’s stock valued at $52,000 after buying an additional 2,309 shares in the last quarter. Finally, Franklin Resources Inc. boosted its holdings in Mativ by 8.3% in the 3rd quarter. Franklin Resources Inc. now owns 34,362 shares of the company’s stock worth $574,000 after buying an additional 2,648 shares during the period. Hedge funds and other institutional investors own 94.95% of the company’s stock.

Mativ Stock Up 1.4 %

NYSE MATV opened at $9.09 on Friday. Mativ Holdings, Inc. has a 12 month low of $8.61 and a 12 month high of $19.96. The company has a current ratio of 2.37, a quick ratio of 1.29 and a debt-to-equity ratio of 1.31. The stock has a market cap of $494.17 million, a PE ratio of 4.64, a P/E/G ratio of 1.37 and a beta of 0.66. The stock’s 50 day moving average is $10.30 and its 200 day moving average is $14.17.

Analysts Set New Price Targets

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