State of Tennessee Treasury Department decreased its position in Matthews International Corp (NASDAQ:MATW) by 9.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,088 shares of the company’s stock after selling 2,841 shares during the quarter. State of Tennessee Treasury Department’s holdings in Matthews International were worth $1,377,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in Matthews International in the 3rd quarter worth approximately $159,000. Neuberger Berman Group LLC bought a new stake in Matthews International in the 3rd quarter worth approximately $213,000. CIBC Asset Management Inc bought a new stake in Matthews International in the 4th quarter worth approximately $217,000. FDx Advisors Inc. bought a new stake in Matthews International in the 3rd quarter worth approximately $221,000. Finally, First Trust Advisors LP bought a new position in shares of Matthews International during the 4th quarter valued at approximately $285,000. 79.53% of the stock is currently owned by institutional investors and hedge funds.
In other Matthews International news, VP Robert M. Marsh acquired 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The stock was bought at an average price of $55.50 per share, for a total transaction of $166,500.00. Following the acquisition, the vice president now directly owns 16,207 shares in the company, valued at $899,488.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Tunon Alvaro Garcia acquired 1,000 shares of the company’s stock in a transaction that occurred on Monday, February 5th. The shares were acquired at an average price of $52.00 per share, with a total value of $52,000.00. The disclosure for this purchase can be found here. 3.80% of the stock is owned by insiders.
Matthews International Corp (MATW) opened at $54.80 on Friday. The firm has a market capitalization of $1,769.60, a P/E ratio of 17.85 and a beta of 1.15. The company has a current ratio of 2.10, a quick ratio of 1.48 and a debt-to-equity ratio of 1.20. Matthews International Corp has a 12-month low of $50.10 and a 12-month high of $72.60.
Matthews International (NASDAQ:MATW) last released its earnings results on Thursday, January 25th. The company reported $0.64 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.06. The firm had revenue of $369.50 million for the quarter, compared to the consensus estimate of $355.84 million. Matthews International had a return on equity of 15.09% and a net margin of 6.46%. The company’s revenue for the quarter was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.62 EPS. analysts forecast that Matthews International Corp will post 3.89 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, February 19th. Stockholders of record on Monday, February 5th were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.39%. The ex-dividend date was Friday, February 2nd. Matthews International’s dividend payout ratio is currently 24.76%.
Several equities analysts have recently weighed in on MATW shares. BidaskClub downgraded Matthews International from a “sell” rating to a “strong sell” rating in a research report on Tuesday, December 12th. B. Riley reissued a “buy” rating and set a $92.00 target price on shares of Matthews International in a research report on Monday, November 20th. 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. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $83.50.
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Matthews International Company 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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