Rhumbline Advisers raised its position in Matthews International Corp (NASDAQ:MATW) by 12.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 76,109 shares of the company’s stock after purchasing an additional 8,313 shares during the period. Rhumbline Advisers owned about 0.24% of Matthews International worth $4,019,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in MATW. Prudential Financial Inc. lifted its holdings in shares of Matthews International by 2.2% during the 3rd quarter. Prudential Financial Inc. now owns 55,668 shares of the company’s stock worth $3,465,000 after acquiring an additional 1,190 shares during the period. Swiss National Bank raised its holdings in Matthews International by 2.3% in the fourth quarter. Swiss National Bank now owns 54,296 shares of the company’s stock valued at $2,867,000 after buying an additional 1,200 shares during the period. American International Group Inc. raised its holdings in Matthews International by 5.7% in the third quarter. American International Group Inc. now owns 24,891 shares of the company’s stock valued at $1,549,000 after buying an additional 1,339 shares during the period. Wells Fargo & Company MN raised its holdings in Matthews International by 1.7% in the third quarter. Wells Fargo & Company MN now owns 91,440 shares of the company’s stock valued at $5,693,000 after buying an additional 1,492 shares during the period. Finally, California Public Employees Retirement System grew its position in Matthews International by 6.4% in the fourth quarter. California Public Employees Retirement System now owns 26,665 shares of the company’s stock valued at $1,408,000 after acquiring an additional 1,600 shares in the last quarter. Institutional investors own 80.74% of the company’s stock.
Matthews International Corp (NASDAQ MATW) traded up $0.15 during trading on Tuesday, reaching $52.10. 11,177 shares of the company’s stock were exchanged, compared to its average volume of 169,718. The company has a current ratio of 2.10, a quick ratio of 1.48 and a debt-to-equity ratio of 1.20. The firm has a market capitalization of $1,708.22, a P/E ratio of 16.92 and a beta of 1.15. Matthews International Corp has a 1 year low of $50.10 and a 1 year high of $72.60.
Matthews International (NASDAQ:MATW) last posted its earnings results on Thursday, January 25th. The company reported $0.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.06. The company had revenue of $369.50 million for the quarter, compared to analysts’ expectations of $355.84 million. Matthews International had a return on equity of 15.09% and a net margin of 6.46%. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period last year, the business posted $0.62 earnings per share. research analysts predict that Matthews International Corp will post 3.89 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, February 19th. Investors of record on Monday, February 5th were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date was Friday, February 2nd. Matthews International’s dividend payout ratio is currently 24.76%.
In related news, VP Robert M. Marsh acquired 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 30th. The shares were acquired at an average cost of $55.50 per share, for a total transaction of $166,500.00. Following the completion of the purchase, the vice president now directly owns 16,207 shares in the company, valued at $899,488.50. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Tunon Alvaro Garcia purchased 1,000 shares of the company’s stock in a transaction on Monday, February 5th. The stock was acquired at an average price of $52.00 per share, for a total transaction of $52,000.00. The disclosure for this purchase can be found here. 3.80% of the stock is owned by insiders.
Several analysts have issued reports on MATW shares. B. Riley set a $92.00 price objective on shares of Matthews International and gave the company a “buy” rating in a research report on Monday, February 12th. BidaskClub downgraded shares of Matthews International from a “sell” rating to a “strong sell” rating in a research report on Tuesday, December 12th. ValuEngine downgraded shares of Matthews International from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Finally, Wellington Shields raised shares of Matthews International from a “hold” rating to a “gradually accumulate” rating in a research report on Thursday, March 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. Matthews International currently has an average rating of “Hold” and a consensus target price of $83.50.
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Matthews International Profile
Matthews International Corporation is a provider of brand solutions, memorialization products and industrial technologies. The Company operates through three segments: SGK Brand Solutions, Memorialization and Industrial Technologies. The SGK Brand Solutions segment provides brand development, deployment and delivery (consisting of brand management, printing plates and cylinders, pre-media services and imaging services for consumer packaged goods and retail customers, merchandising display systems, and marketing and design services).
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