Public Employees Retirement Association of Colorado trimmed its position in Matthews International Co. (NASDAQ:MATW) by 24.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,059 shares of the company’s stock after selling 1,594 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Matthews International were worth $256,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MATW. Schwab Charles Investment Management Inc. increased its position in shares of Matthews International by 7.7% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 197,048 shares of the company’s stock valued at $10,405,000 after acquiring an additional 14,133 shares during the period. Northpointe Capital LLC increased its position in shares of Matthews International by 53.6% in the 4th quarter. Northpointe Capital LLC now owns 73,236 shares of the company’s stock valued at $3,867,000 after acquiring an additional 25,555 shares during the period. SG Americas Securities LLC increased its position in shares of Matthews International by 69.7% in the 4th quarter. SG Americas Securities LLC now owns 4,342 shares of the company’s stock valued at $229,000 after acquiring an additional 1,784 shares during the period. Assenagon Asset Management S.A. acquired a new position in shares of Matthews International in the 4th quarter valued at $5,219,000. Finally, Foundry Partners LLC increased its position in shares of Matthews International by 3.3% in the 4th quarter. Foundry Partners LLC now owns 142,197 shares of the company’s stock valued at $7,508,000 after acquiring an additional 4,481 shares during the period. 81.13% of the stock is currently owned by hedge funds and other institutional investors.
Shares of MATW opened at $52.90 on Wednesday. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of 14.51 and a beta of 1.12. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.50 and a current ratio of 2.08. Matthews International Co. has a fifty-two week low of $47.70 and a fifty-two week high of $66.65.
Matthews International (NASDAQ:MATW) last announced its quarterly earnings results on Thursday, April 26th. The company reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.02. The company had revenue of $414.10 million for the quarter, compared to the consensus estimate of $395.99 million. Matthews International had a return on equity of 14.69% and a net margin of 6.53%. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period last year, the firm earned $0.84 EPS. analysts expect that Matthews International Co. will post 3.89 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, May 14th. Shareholders of record on Monday, April 30th were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.44%. The ex-dividend date was Friday, April 27th. Matthews International’s dividend payout ratio is currently 21.11%.
In related news, Director Tunon Alvaro Garcia purchased 2,000 shares of the business’s stock in a transaction on Monday, May 7th. The shares were bought at an average cost of $50.00 per share, with a total value of $100,000.00. Following the transaction, the director now owns 24,759 shares of the company’s stock, valued at $1,237,950. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.80% of the stock is currently owned by company insiders.
MATW has been the topic of several analyst reports. Zacks Investment Research downgraded Matthews International from a “buy” rating to a “hold” rating in a research report on Saturday, April 7th. BidaskClub raised Matthews International from a “strong sell” rating to a “sell” rating in a research report on Friday, January 26th. B. Riley set a $92.00 price target on Matthews International and gave the stock a “buy” rating in a research report on Monday, February 12th. Wellington Shields raised Matthews International from a “hold” rating to a “gradually accumulate” rating in a research report on Thursday, March 1st. Finally, ValuEngine downgraded Matthews International from a “buy” rating to a “hold” rating in a research report on Friday, February 2nd. Two analysts have rated the stock with a sell rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $73.67.
Matthews International Company Profile
Matthews International Corporation provides brand solutions, memorialization products, and industrial products in the United States, Central and South America, Canada, Europe, Australia, and Asia. It operates through three segments: SGK Brand Solutions, Memorialization, and Industrial Technologies. The SGK Brand Solutions segment provides brand development, deployment, delivery, brand management, 3-D graphics renderings, pre-media graphics services, printing plates, gravure cylinders, steel bases, embossing tools, special purpose machinery, engineering assistance, print process assistance, print production management, digital asset management, content management, and package design services to brand owners and packaging manufacturers; and creative digital graphics services, as well as designs, engineers, manufactures, and executes merchandising and display systems.
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