Swiss National Bank boosted its holdings in Matthews International Corp (NASDAQ:MATW) by 1.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 60,296 shares of the company’s stock after purchasing an additional 1,000 shares during the period. Swiss National Bank owned about 0.19% of Matthews International worth $2,301,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Toth Financial Advisory Corp bought a new stake in shares of Matthews International in the 4th quarter valued at $25,000. Aigen Investment Management LP acquired a new stake in shares of Matthews International in the 4th quarter worth $69,000. SG Americas Securities LLC acquired a new stake in shares of Matthews International in the 3rd quarter worth $125,000. Man Group plc acquired a new stake in shares of Matthews International in the 3rd quarter worth $248,000. Finally, Raymond James Trust N.A. increased its stake in shares of Matthews International by 5.0% in the 4th quarter. Raymond James Trust N.A. now owns 6,595 shares of the company’s stock worth $251,000 after acquiring an additional 317 shares during the last quarter. 84.78% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Tunon Alvaro Garcia acquired 2,500 shares of the firm’s stock in a transaction on Friday, February 28th. The shares were bought at an average price of $29.00 per share, for a total transaction of $72,500.00. Following the acquisition, the director now owns 27,259 shares of the company’s stock, valued at approximately $790,511. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 3.40% of the company’s stock.
A number of brokerages have issued reports on MATW. ValuEngine downgraded Matthews International from a “hold” rating to a “sell” rating in a research note on Tuesday. Zacks Investment Research downgraded Matthews International from a “hold” rating to a “sell” rating in a report on Saturday. Finally, BidaskClub downgraded Matthews International from a “sell” rating to a “strong sell” rating in a report on Friday, January 31st.
MATW traded up $0.42 during midday trading on Wednesday, reaching $29.92. The company had a trading volume of 1,053 shares, compared to its average volume of 121,143. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.44 and a current ratio of 2.10. The stock has a market cap of $941.52 million, a PE ratio of -17.71 and a beta of 1.34. Matthews International Corp has a 12-month low of $28.53 and a 12-month high of $40.49. The business has a 50-day moving average price of $35.50 and a two-hundred day moving average price of $35.47.
Matthews International (NASDAQ:MATW) last released its quarterly earnings data on Thursday, January 30th. The company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.02. The firm had revenue of $365.00 million for the quarter, compared to analysts’ expectations of $357.52 million. Matthews International had a negative net margin of 3.37% and a positive return on equity of 13.16%. The company’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.50 earnings per share. On average, research analysts anticipate that Matthews International Corp will post 3.39 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, February 17th. Shareholders of record on Monday, February 3rd were issued a $0.21 dividend. The ex-dividend date of this dividend was Friday, January 31st. This represents a $0.84 dividend on an annualized basis and a yield of 2.81%. This is a positive change from Matthews International’s previous quarterly dividend of $0.13. Matthews International’s dividend payout ratio (DPR) is presently 25.38%.
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.
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