California Public Employees Retirement System boosted its stake in Matthews International Corp (NASDAQ:MATW) by 14.5% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 25,065 shares of the company’s stock after buying an additional 3,165 shares during the period. California Public Employees Retirement System owned approximately 0.08% of Matthews International worth $1,560,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Quantbot Technologies LP increased its position in Matthews International by 1,289.0% during the 2nd quarter. Quantbot Technologies LP now owns 2,139 shares of the company’s stock worth $131,000 after purchasing an additional 1,985 shares in the last quarter. SG Americas Securities LLC acquired a new position in Matthews International in the 3rd quarter valued at approximately $159,000. Riverhead Capital Management LLC increased its position in Matthews International by 60.6% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,731 shares of the company’s stock valued at $167,000 after acquiring an additional 1,031 shares during the period. Cubist Systematic Strategies LLC acquired a new position in Matthews International in the 2nd quarter valued at approximately $220,000. Finally, FDx Advisors Inc. acquired a new position in Matthews International in the 3rd quarter valued at approximately $221,000. 77.61% of the stock is owned by hedge funds and other institutional investors.
Several equities research analysts have recently weighed in on the stock. B. Riley set a $92.00 target price on shares of Matthews International and gave the stock a “buy” rating in a research note on Monday. ValuEngine lowered shares of Matthews International from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. Finally, BidaskClub raised shares of Matthews International from a “strong sell” rating to a “sell” rating in a research note on Friday, January 26th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued 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.
Matthews International Corp (MATW) traded up $0.20 during midday trading on Monday, reaching $53.75. 198,059 shares of the company were exchanged, compared to its average volume of 197,378. Matthews International Corp has a 1-year low of $50.10 and a 1-year high of $72.60. The company has a debt-to-equity ratio of 1.20, a current ratio of 2.10 and a quick ratio of 1.48. The stock has a market capitalization of $1,729.21, a P/E ratio of 17.51 and a beta of 1.11.
Matthews International (NASDAQ:MATW) last released its quarterly earnings data on Thursday, January 25th. The company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.06. Matthews International had a net margin of 6.46% and a return on equity of 15.09%. The company had revenue of $369.50 million during the quarter, compared to analyst estimates of $355.84 million. During the same period last year, the business earned $0.62 earnings per share. Matthews International’s revenue was up 5.9% compared to the same quarter last year. research analysts predict that Matthews International Corp will post 3.89 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, February 19th. Shareholders of record on Monday, February 5th will be given a dividend of $0.19 per share. The ex-dividend date of this dividend is Friday, February 2nd. This represents a $0.76 annualized dividend and a yield of 1.41%. Matthews International’s payout ratio is presently 24.76%.
In related news, VP Robert M. Marsh bought 3,000 shares of the company’s stock in a transaction on Tuesday, January 30th. The stock was acquired at an average cost of $55.50 per share, for a total transaction of $166,500.00. Following the completion of the transaction, the vice president now directly owns 16,207 shares in the company, valued at approximately $899,488.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Tunon Alvaro Garcia bought 1,000 shares of the company’s stock in a transaction on Monday, February 5th. The shares were bought 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. Insiders own 3.80% of the company’s stock.
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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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