Arizona State Retirement System increased its holdings in Matthews International Corp (NASDAQ:MATW) by 6.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,392 shares of the company’s stock after buying an additional 2,831 shares during the period. Arizona State Retirement System owned about 0.15% of Matthews International worth $2,006,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in MATW. Quantamental Technologies LLC purchased a new stake in shares of Matthews International in the 4th quarter worth about $85,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Matthews International in the 3rd quarter worth about $322,000. Quantbot Technologies LP boosted its position in shares of Matthews International by 834.7% in the 3rd quarter. Quantbot Technologies LP now owns 8,300 shares of the company’s stock worth $416,000 after buying an additional 7,412 shares in the last quarter. B. Riley Financial Inc. boosted its position in shares of Matthews International by 29.8% in the 3rd quarter. B. Riley Financial Inc. now owns 9,219 shares of the company’s stock worth $462,000 after buying an additional 2,116 shares in the last quarter. Finally, Engineers Gate Manager LP purchased a new stake in shares of Matthews International in the 3rd quarter worth about $523,000. Institutional investors and hedge funds own 84.74% of the company’s stock.
In other news, insider David A. Schawk bought 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 20th. The stock was purchased at an average price of $40.93 per share, with a total value of $40,930.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 3.70% of the company’s stock.
Matthews International (NASDAQ:MATW) last announced its earnings results on Thursday, January 31st. The company reported $0.50 earnings per share for the quarter, meeting the consensus estimate of $0.50. Matthews International had a net margin of 4.68% and a return on equity of 14.35%. The firm had revenue of $374.18 million during the quarter, compared to the consensus estimate of $358.55 million. On average, analysts expect that Matthews International Corp will post 4.17 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, February 18th. Investors of record on Monday, February 4th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.92%. The ex-dividend date is Friday, February 1st. Matthews International’s payout ratio is 20.20%.
Several equities research analysts recently commented on MATW shares. B. Riley decreased their price objective on shares of Matthews International from $92.00 to $80.00 and set a “buy” rating on the stock in a research report on Monday, November 19th. Zacks Investment Research lowered shares of Matthews International from a “hold” rating to a “sell” rating in a research report on Wednesday, November 21st. Finally, BidaskClub raised shares of Matthews International from a “strong sell” rating to a “sell” rating in a research note on Friday, November 23rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $66.00.
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Matthews International Profile
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.
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