First Trust Advisors LP decreased its position in shares of Matthews International Corp (NASDAQ:MATW) by 16.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 30,232 shares of the company’s stock after selling 6,077 shares during the quarter. First Trust Advisors LP’s holdings in Matthews International were worth $1,516,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. bought a new position in Matthews International during the 2nd quarter worth approximately $211,000. Toth Financial Advisory Corp raised its holdings in Matthews International by 42.4% during the 3rd quarter. Toth Financial Advisory Corp now owns 4,217 shares of the company’s stock worth $212,000 after purchasing an additional 1,255 shares during the last quarter. FDx Advisors Inc. bought a new position in Matthews International during the 2nd quarter worth approximately $257,000. Private Advisor Group LLC bought a new position in Matthews International during the 2nd quarter worth approximately $341,000. Finally, Manning & Napier Group LLC bought a new position in Matthews International during the 3rd quarter worth approximately $306,000. Hedge funds and other institutional investors own 82.46% of the company’s stock.
MATW has been the subject of several analyst reports. TheStreet lowered shares of Matthews International from a “b” rating to a “c+” rating in a report on Monday, August 20th. ValuEngine upgraded shares of Matthews International from a “strong sell” rating to a “sell” rating in a report on Friday, September 7th. BidaskClub lowered shares of Matthews International from a “sell” rating to a “strong sell” rating in a report on Thursday, September 13th. Zacks Investment Research lowered shares of Matthews International from a “buy” rating to a “hold” rating in a report on Thursday, September 27th. Finally, Buckingham Research initiated coverage on shares of Matthews International in a report on Tuesday, October 2nd. They set a “buy” rating and a $61.00 price target for the company. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. Matthews International has an average rating of “Hold” and a consensus target price of $66.00.
NASDAQ:MATW opened at $40.00 on Thursday. The firm has a market capitalization of $1.35 billion, a PE ratio of 10.10 and a beta of 1.18. The company has a debt-to-equity ratio of 1.07, a current ratio of 2.03 and a quick ratio of 1.43. Matthews International Corp has a twelve month low of $39.74 and a twelve month high of $61.25.
Matthews International (NASDAQ:MATW) last released its quarterly earnings data on Thursday, November 15th. The company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.21 by $0.02. The company had revenue of $407.44 million during the quarter, compared to analyst estimates of $398.03 million. Matthews International had a net margin of 6.70% and a return on equity of 14.94%. Analysts forecast that Matthews International Corp will post 4.13 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Monday, November 26th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, November 23rd. This represents a $0.80 annualized dividend and a dividend yield of 2.00%. This is a positive change from Matthews International’s previous quarterly dividend of $0.19. Matthews International’s payout ratio is currently 20.20%.
In related news, insider David A. Schawk acquired 1,000 shares of the stock in a transaction dated Tuesday, November 20th. The stock was bought at an average price of $40.93 per share, for a total transaction of $40,930.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 3.80% of the company’s stock.
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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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