Mativ (NYSE:MATV) Shares Gap Down – Should You Sell?

Mativ Holdings, Inc. (NYSE:MATV)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $17.40, but opened at $14.91. Mativ shares last traded at $14.19, with a volume of 25,423 shares.

Mativ Stock Down 19.9 %

The firm’s 50-day simple moving average is $17.04 and its two-hundred day simple moving average is $17.37. The stock has a market cap of $757.32 million, a price-to-earnings ratio of -2.36, a PEG ratio of 3.18 and a beta of 0.70. The company has a debt-to-equity ratio of 1.28, a quick ratio of 1.33 and a current ratio of 2.46.

Mativ (NYSE:MATV) last released its earnings results on Wednesday, August 7th. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.13. The company had revenue of $523.80 million during the quarter, compared to the consensus estimate of $526.50 million. Mativ had a positive return on equity of 5.19% and a negative net margin of 16.55%. During the same quarter in the previous year, the company posted $0.51 earnings per share. On average, sell-side analysts expect that Mativ Holdings, Inc. will post 0.82 EPS for the current fiscal year.

Hedge Funds Weigh In On Mativ

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. ProShare Advisors LLC increased its position in shares of Mativ by 5.9% in the 1st quarter. ProShare Advisors LLC now owns 10,837 shares of the company’s stock valued at $203,000 after buying an additional 607 shares in the last quarter. Texas Permanent School Fund Corp raised its position in shares of Mativ by 1.5% during the first quarter. Texas Permanent School Fund Corp now owns 47,176 shares of the company’s stock worth $885,000 after purchasing an additional 688 shares during the period. nVerses Capital LLC acquired a new position in shares of Mativ in the 3rd quarter valued at approximately $25,000. CANADA LIFE ASSURANCE Co increased its stake in Mativ by 4.9% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 40,244 shares of the company’s stock worth $754,000 after purchasing an additional 1,882 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in Mativ by 17.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 15,556 shares of the company’s stock worth $292,000 after buying an additional 2,273 shares during the period. Institutional investors own 94.95% of the company’s stock.

About Mativ

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.