Schwab Charles Investment Management Inc. lifted its holdings in shares of Matthews International Corp (NASDAQ:MATW) by 8.7% in the first quarter, Holdings Channel reports. The institutional investor owned 214,209 shares of the company’s stock after buying an additional 17,161 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Matthews International were worth $10,839,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the company. Suntrust Banks Inc. raised its holdings in shares of Matthews International by 12.2% in the 4th quarter. Suntrust Banks Inc. now owns 8,755 shares of the company’s stock valued at $462,000 after purchasing an additional 955 shares during the period. UBS Asset Management Americas Inc. raised its holdings in shares of Matthews International by 5.0% in the 4th quarter. UBS Asset Management Americas Inc. now owns 20,744 shares of the company’s stock valued at $1,095,000 after purchasing an additional 997 shares during the period. Meadow Creek Investment Management LLC raised its holdings in shares of Matthews International by 25.9% in the 4th quarter. Meadow Creek Investment Management LLC now owns 4,964 shares of the company’s stock valued at $262,000 after purchasing an additional 1,020 shares during the period. Teachers Advisors LLC raised its holdings in shares of Matthews International by 1.9% in the 4th quarter. Teachers Advisors LLC now owns 56,560 shares of the company’s stock valued at $2,986,000 after purchasing an additional 1,079 shares during the period. Finally, Swiss National Bank raised its holdings in shares of Matthews International by 2.3% in the 4th quarter. Swiss National Bank now owns 54,296 shares of the company’s stock valued at $2,867,000 after purchasing an additional 1,200 shares during the period. Institutional investors own 81.29% of the company’s stock.
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A number of brokerages have recently issued reports on MATW. BidaskClub raised shares of Matthews International from a “sell” rating to a “hold” rating in a report on Wednesday, May 30th. Zacks Investment Research raised shares of Matthews International from a “hold” rating to a “buy” rating and set a $54.00 target price on the stock in a report on Tuesday, May 1st. Finally, ValuEngine cut shares of Matthews International from a “hold” rating to a “sell” rating in a report on Friday, April 27th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company’s stock. Matthews International currently has a consensus rating of “Buy” and an average price target of $73.67.
Shares of MATW stock opened at $56.40 on Wednesday. The company has a current ratio of 2.08, a quick ratio of 1.50 and a debt-to-equity ratio of 1.20. The stock has a market capitalization of $1.79 billion, a PE ratio of 15.16 and a beta of 1.14. Matthews International Corp has a 52-week low of $47.70 and a 52-week high of $66.65.
Matthews International (NASDAQ:MATW) last issued its earnings results on Thursday, April 26th. The company reported $0.93 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.02. The company had revenue of $414.10 million for the quarter, compared to analysts’ expectations of $395.99 million. Matthews International had a net margin of 6.53% and a return on equity of 14.69%. Matthews International’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.84 EPS. equities analysts forecast that Matthews International Corp will post 3.89 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, May 14th. Shareholders of record on Monday, April 30th were issued a $0.19 dividend. The ex-dividend date was Friday, April 27th. This represents a $0.76 annualized dividend and a yield of 1.35%. Matthews International’s dividend payout ratio is currently 21.11%.
In other Matthews International news, EVP Brian J. Dunn sold 10,452 shares of the stock in a transaction dated Friday, May 25th. The shares were sold at an average price of $53.30, for a total value of $557,091.60. Following the transaction, the executive vice president now directly owns 58,623 shares of the company’s stock, valued at approximately $3,124,605.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Tunon Alvaro Garcia purchased 2,000 shares of the stock in a transaction on Monday, May 7th. The stock was bought at an average cost of $50.00 per share, for a total transaction of $100,000.00. Following the completion of the acquisition, the director now owns 24,759 shares in the company, valued at $1,237,950. The disclosure for this purchase can be found here. 3.80% of the stock is owned by corporate insiders.
About Matthews International
Matthews International Corporation provides brand solutions, memorialization products, and industrial products in the United States, Central and South America, Canada, Europe, Australia, and Asia. It operates through three segments: SGK Brand Solutions, Memorialization, and Industrial Technologies. The SGK Brand Solutions segment provides brand development, deployment, delivery, brand management, 3-D graphics renderings, pre-media graphics services, printing plates, gravure cylinders, steel bases, embossing tools, special purpose machinery, engineering assistance, print process assistance, print production management, digital asset management, content management, and package design services to brand owners and packaging manufacturers; and creative digital graphics services, as well as designs, engineers, manufactures, and executes merchandising and display systems.
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