Peregrine Capital Management LLC Acquires New Stake in Mativ Holdings, Inc. (NYSE:MATV)

Peregrine Capital Management LLC acquired a new stake in Mativ Holdings, Inc. (NYSE:MATV) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 403,360 shares of the company’s stock, valued at approximately $4,397,000. Peregrine Capital Management LLC owned about 0.74% of Mativ as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. nVerses Capital LLC acquired a new stake in shares of Mativ in the 3rd quarter worth $25,000. Point72 DIFC Ltd acquired a new stake in shares of Mativ in the 3rd quarter worth $35,000. KBC Group NV increased its stake in shares of Mativ by 93.2% in the 4th quarter. KBC Group NV now owns 4,787 shares of the company’s stock worth $52,000 after acquiring an additional 2,309 shares during the last quarter. Truvestments Capital LLC purchased a new position in shares of Mativ during the 3rd quarter worth $82,000. Finally, FMR LLC grew its holdings in shares of Mativ by 113.3% during the 3rd quarter. FMR LLC now owns 7,716 shares of the company’s stock worth $131,000 after purchasing an additional 4,098 shares during the period. 94.95% of the stock is owned by institutional investors and hedge funds.

Mativ Stock Performance

Shares of Mativ stock opened at $9.11 on Thursday. The business has a 50-day moving average of $10.12 and a 200 day moving average of $13.96. Mativ Holdings, Inc. has a 12 month low of $8.61 and a 12 month high of $19.96. The stock has a market capitalization of $495.04 million, a price-to-earnings ratio of 4.65, a price-to-earnings-growth ratio of 1.32 and a beta of 0.66. The company has a debt-to-equity ratio of 1.31, a current ratio of 2.37 and a quick ratio of 1.29.

Mativ (NYSE:MATV) last announced its quarterly earnings data on Wednesday, February 19th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.17). Mativ had a net margin of 5.44% and a return on equity of 4.88%. As a group, sell-side analysts forecast that Mativ Holdings, Inc. will post 0.6 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus began coverage on Mativ in a report on Thursday, November 21st. They set 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.