Northwestern Mutual Wealth Management Co. lifted its stake in shares of Matthews International Corporation (NASDAQ:MATW – Free Report) by 498,188.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 84,709 shares of the company’s stock after acquiring an additional 84,692 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Matthews International were worth $2,213,000 as of its most recent SEC filing.
Other hedge funds also recently made changes to their positions in the company. US Bancorp DE lifted its holdings in shares of Matthews International by 45.9% during the 3rd quarter. US Bancorp DE now owns 2,063 shares of the company’s stock worth $50,000 after acquiring an additional 649 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Matthews International during the 3rd quarter worth $59,000. Tower Research Capital LLC TRC lifted its holdings in shares of Matthews International by 187.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,885 shares of the company’s stock worth $69,000 after acquiring an additional 1,880 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Matthews International by 51.6% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,080 shares of the company’s stock worth $74,000 after acquiring an additional 1,048 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Matthews International by 25.0% during the 2nd quarter. Smartleaf Asset Management LLC now owns 3,445 shares of the company’s stock worth $84,000 after acquiring an additional 689 shares during the last quarter. 83.08% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on MATW shares. Wall Street Zen downgraded shares of Matthews International from a “buy” rating to a “hold” rating in a report on Sunday, May 10th. Zacks Research upgraded shares of Matthews International from a “strong sell” rating to a “hold” rating in a research report on Monday, April 6th. Finally, Weiss Ratings cut shares of Matthews International from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, May 6th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Matthews International has an average rating of “Reduce”.
Matthews International Price Performance
Shares of NASDAQ:MATW opened at $27.29 on Wednesday. The stock has a market cap of $851.45 million, a PE ratio of 88.03 and a beta of 1.12. The company’s fifty day moving average is $26.64 and its 200 day moving average is $26.25. Matthews International Corporation has a 52 week low of $20.73 and a 52 week high of $30.93. The company has a quick ratio of 0.97, a current ratio of 1.64 and a debt-to-equity ratio of 1.12.
Matthews International (NASDAQ:MATW – Get Free Report) last issued its earnings results on Thursday, April 30th. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.20. The company had revenue of $258.62 million for the quarter, compared to analysts’ expectations of $253.65 million. Matthews International had a net margin of 0.80% and a return on equity of 5.88%. Research analysts anticipate that Matthews International Corporation will post 1.09 earnings per share for the current year.
Matthews International Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, May 25th. Investors of record on Monday, May 11th were given a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date was Monday, May 11th. Matthews International’s dividend payout ratio (DPR) is presently 329.03%.
Matthews International Company Profile
Matthews International Corporation (NASDAQ:MATW) is a diversified industrial company headquartered in Pittsburgh, Pennsylvania. The company operates through two primary business segments—Brand Solutions and Memorialization—offering a broad range of products and services designed to meet the needs of industrial manufacturers, brand marketers and the funeral industry worldwide.
In its Brand Solutions segment, Matthews International provides engraving and digital printing systems, automated finishing equipment, thermal management products and electronics assembly solutions.
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