Sequoia Financial Advisors LLC purchased a new position in Matthews International Corporation (NASDAQ:MATW – Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 26,730 shares of the company’s stock, valued at approximately $690,000.
Several other institutional investors and hedge funds have also made changes to their positions in MATW. US Bancorp DE grew its holdings in shares of Matthews International by 45.9% during the third quarter. US Bancorp DE now owns 2,063 shares of the company’s stock valued at $50,000 after buying an additional 649 shares during the last quarter. Potomac Capital Management Inc. acquired a new stake in Matthews International during the 4th quarter worth about $59,000. Tower Research Capital LLC TRC grew its stake in Matthews International by 187.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,885 shares of the company’s stock valued at $69,000 after purchasing an additional 1,880 shares during the last quarter. Tripletail Wealth Management LLC increased its holdings in shares of Matthews International by 206.5% in the fourth quarter. Tripletail Wealth Management LLC now owns 2,820 shares of the company’s stock valued at $73,000 after purchasing an additional 1,900 shares during the period. Finally, BNP Paribas Financial Markets increased its holdings in shares of Matthews International by 51.6% in the second quarter. BNP Paribas Financial Markets now owns 3,080 shares of the company’s stock valued at $74,000 after purchasing an additional 1,048 shares during the period. 83.08% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on the company. Zacks Research raised Matthews International from a “strong sell” rating to a “hold” rating in a report on Monday, April 6th. Wall Street Zen lowered shares of Matthews International from a “buy” rating to a “hold” rating in a research report on Sunday, May 10th. Finally, Weiss Ratings downgraded shares of Matthews International from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, May 6th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce”.
Matthews International Price Performance
Shares of MATW opened at $27.46 on Monday. The business’s 50-day moving average is $26.59 and its two-hundred day moving average is $26.54. The company has a market capitalization of $856.75 million, a P/E ratio of 88.58 and a beta of 1.08. Matthews International Corporation has a fifty-two week low of $21.95 and a fifty-two week high of $30.93. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.97 and a current ratio of 1.64.
Matthews International (NASDAQ:MATW – Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.20. Matthews International had a return on equity of 5.88% and a net margin of 0.80%.The business had revenue of $258.62 million during the quarter, compared to analysts’ expectations of $253.65 million. Research analysts predict that Matthews International Corporation will post 1.09 earnings per share for the current year.
Matthews International Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, May 25th. Shareholders of record on Monday, May 11th were issued a $0.255 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $1.02 dividend on an annualized basis and a yield of 3.7%. Matthews International’s payout ratio is presently 329.03%.
Matthews International 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.
Further Reading
- Five stocks we like better than Matthews International
- Strait of Hormuz Tensions Spike Tanker Trade: These 2 Stocks Are Set to Benefit
- Shopify’s Quiet AI Strategy Could Be Its Biggest Advantage Yet
- Why These 3 Nuclear ETFs Are Getting a Fresh Look as AI Power Demand Rises
- 3 Aerospace Suppliers That Could Benefit as Aircraft Makers Face Bottlenecks
Want to see what other hedge funds are holding MATW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Matthews International Corporation (NASDAQ:MATW – Free Report).
Receive News & Ratings for Matthews International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Matthews International and related companies with MarketBeat.com's FREE daily email newsletter.
