B. Riley Financial Inc. purchased a new position in Matthews International Corp (NASDAQ:MATW) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 7,103 shares of the company’s stock, valued at approximately $418,000.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Aperio Group LLC grew its stake in Matthews International by 16.7% during the 2nd quarter. Aperio Group LLC now owns 7,202 shares of the company’s stock valued at $423,000 after acquiring an additional 1,032 shares in the last quarter. Legal & General Group Plc lifted its holdings in Matthews International by 6.9% in the 1st quarter. Legal & General Group Plc now owns 67,962 shares of the company’s stock worth $3,436,000 after purchasing an additional 4,387 shares during the last quarter. Sei Investments Co. lifted its holdings in Matthews International by 16.3% in the 2nd quarter. Sei Investments Co. now owns 97,665 shares of the company’s stock worth $5,742,000 after purchasing an additional 13,721 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Matthews International by 3.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 485,081 shares of the company’s stock worth $28,521,000 after purchasing an additional 15,603 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its holdings in Matthews International by 8.7% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 214,209 shares of the company’s stock worth $10,839,000 after purchasing an additional 17,161 shares during the last quarter. 81.15% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms recently weighed in on MATW. BidaskClub lowered Matthews International from a “buy” rating to a “hold” rating in a report on Friday, July 20th. Zacks Investment Research raised Matthews International from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a research report on Wednesday, August 1st. ValuEngine upgraded Matthews International from a “sell” rating to a “hold” rating in a research report on Monday, July 16th. Finally, TheStreet cut Matthews International from a “b” rating to a “c+” rating in a research report on Monday, August 20th. Two research analysts have rated the stock with a sell rating and two have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $74.50.
Shares of NASDAQ:MATW opened at $52.55 on Tuesday. Matthews International Corp has a fifty-two week low of $47.70 and a fifty-two week high of $65.10. The firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of 14.60 and a beta of 1.05. The company has a current ratio of 2.05, a quick ratio of 1.45 and a debt-to-equity ratio of 1.20.
Matthews International (NASDAQ:MATW) last announced its quarterly earnings results on Thursday, July 26th. The company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.02. Matthews International had a return on equity of 14.70% and a net margin of 6.12%. The firm had revenue of $411.62 million for the quarter, compared to analysts’ expectations of $421.59 million. During the same period in the prior year, the business posted $1.05 earnings per share. The business’s revenue was up 5.6% compared to the same quarter last year. research analysts predict that Matthews International Corp will post 3.9 EPS for the current fiscal year.
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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