Nationwide Fund Advisors lowered its position in shares of Matthews International Corp (NASDAQ:MATW) by 3.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,745 shares of the company’s stock after selling 831 shares during the quarter. Nationwide Fund Advisors owned 0.06% of Matthews International worth $1,291,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of MATW. Quantbot Technologies LP lifted its holdings in Matthews International by 1,289.0% during the second quarter. Quantbot Technologies LP now owns 2,139 shares of the company’s stock valued at $131,000 after purchasing an additional 1,985 shares in the last quarter. Riverhead Capital Management LLC lifted its holdings in Matthews International by 60.6% during the second quarter. Riverhead Capital Management LLC now owns 2,731 shares of the company’s stock valued at $167,000 after purchasing an additional 1,031 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Matthews International by 17.6% during the second quarter. Victory Capital Management Inc. now owns 3,474 shares of the company’s stock valued at $213,000 after purchasing an additional 520 shares in the last quarter. Cubist Systematic Strategies LLC purchased a new position in Matthews International during the second quarter valued at approximately $220,000. Finally, Pinebridge Investments L.P. raised its position in shares of Matthews International by 0.8% during the second quarter. Pinebridge Investments L.P. now owns 4,242 shares of the company’s stock valued at $259,000 after buying an additional 35 shares during the last quarter. 78.63% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have recently issued reports on the stock. Zacks Investment Research cut shares of Matthews International from a “hold” rating to a “sell” rating in a research report on Saturday, September 23rd. BidaskClub cut shares of Matthews International from a “sell” rating to a “strong sell” rating in a research report on Tuesday, December 12th. Finally, B. Riley reiterated a “buy” rating and set a $92.00 price objective on shares of Matthews International in a research report on Monday, November 20th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $83.50.
Matthews International (NASDAQ:MATW) last announced its quarterly earnings results on Thursday, November 16th. The company reported $1.06 earnings per share for the quarter, missing the consensus estimate of $1.09 by ($0.03). Matthews International had a return on equity of 15.77% and a net margin of 4.83%. The business had revenue of $396.10 million during the quarter, compared to the consensus estimate of $389.67 million. During the same quarter in the prior year, the firm posted $1.08 EPS. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. sell-side analysts expect that Matthews International Corp will post 3.83 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, December 11th. Investors of record on Monday, November 27th were given a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend was Friday, November 24th. This is a boost from Matthews International’s previous quarterly dividend of $0.17. Matthews International’s payout ratio is currently 33.78%.
About Matthews International
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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