State of Tennessee Treasury Department lessened its position in Matthews International Corp (NASDAQ:MATW) by 6.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 15,874 shares of the company’s stock after selling 1,010 shares during the period. State of Tennessee Treasury Department owned approximately 0.05% of Matthews International worth $303,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Bank of Montreal Can lifted its holdings in shares of Matthews International by 723.2% during the second quarter. Bank of Montreal Can now owns 3,268 shares of the company’s stock valued at $60,000 after purchasing an additional 2,871 shares during the last quarter. Trexquant Investment LP purchased a new stake in shares of Matthews International during the first quarter worth $213,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Matthews International by 346.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,323 shares of the company’s stock worth $178,000 after purchasing an additional 7,233 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of Matthews International by 133.1% in the 1st quarter. SG Americas Securities LLC now owns 9,954 shares of the company’s stock valued at $241,000 after buying an additional 5,683 shares in the last quarter. Finally, CWM Advisors LLC lifted its stake in Matthews International by 81.9% in the first quarter. CWM Advisors LLC now owns 10,846 shares of the company’s stock valued at $262,000 after acquiring an additional 4,885 shares during the last quarter. 80.79% of the stock is owned by institutional investors and hedge funds.
MATW stock opened at $23.51 on Wednesday. Matthews International Corp has a fifty-two week low of $17.01 and a fifty-two week high of $40.36. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.87 and a quick ratio of 1.27. The business has a 50-day moving average of $22.30 and a 200-day moving average of $21.88. The stock has a market capitalization of $735.04 million, a P/E ratio of -4.42 and a beta of 1.18.
Matthews International (NASDAQ:MATW) last announced its quarterly earnings data on Thursday, July 30th. The company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.64 by $0.16. Matthews International had a negative net margin of 11.11% and a positive return on equity of 13.81%. The company had revenue of $359.42 million during the quarter, compared to the consensus estimate of $361.97 million. Equities analysts expect that Matthews International Corp will post 2.75 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, August 17th. Investors of record on Monday, August 3rd were issued a $0.21 dividend. This is a positive change from Matthews International’s previous quarterly dividend of $0.13. The ex-dividend date was Friday, July 31st. This represents a $0.84 annualized dividend and a yield of 3.57%. Matthews International’s payout ratio is presently 25.38%.
Several research firms recently issued reports on MATW. BidaskClub raised shares of Matthews International from a “strong sell” rating to a “sell” rating in a report on Wednesday, September 9th. ValuEngine downgraded Matthews International from a “sell” rating to a “strong sell” rating in a research report on Monday, August 3rd. Finally, Zacks Investment Research upgraded shares of Matthews International from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a research note on Wednesday, August 5th.
About Matthews International
Matthews International Corporation provides brand solutions, memorialization products, and industrial products worldwide. The company's SGK Brand Solutions segment provides brand development and graphic design services, such as visual intellectual properties, packaging, and content creation; brand deployment and activation services, including design and production of merchandising exhibits and shopper experiences in digital and printed media channels; and consulting services to brand owners on workflow best practices, management and technologies, printing quality, measurement, and consistency.
Featured Article: Retained Earnings
Want to see what other hedge funds are holding MATW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Matthews International Corp (NASDAQ:MATW).
Receive News & Ratings for Matthews International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Matthews International and related companies with MarketBeat.com's FREE daily email newsletter.