Prudential Financial Inc. grew its stake in shares of Matthews International Corp (NASDAQ:MATW) by 2.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 55,668 shares of the company’s stock after acquiring an additional 1,190 shares during the period. Prudential Financial Inc. owned about 0.17% of Matthews International worth $3,465,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the company. Voya Investment Management LLC increased its holdings in shares of Matthews International by 117.3% during the second quarter. Voya Investment Management LLC now owns 395,018 shares of the company’s stock worth $24,195,000 after buying an additional 213,201 shares in the last quarter. Nordea Investment Management AB lifted its stake in Matthews International by 129.6% during the 2nd quarter. Nordea Investment Management AB now owns 183,186 shares of the company’s stock worth $11,220,000 after acquiring an additional 103,398 shares in the last quarter. Channing Capital Management LLC increased its holdings in Matthews International by 12.7% during the 3rd quarter. Channing Capital Management LLC now owns 885,504 shares of the company’s stock worth $55,123,000 after purchasing an additional 99,837 shares during the period. FMR LLC increased its holdings in Matthews International by 14.3% during the 2nd quarter. FMR LLC now owns 764,748 shares of the company’s stock worth $46,841,000 after purchasing an additional 95,500 shares during the period. Finally, Clarkston Capital Partners LLC increased its holdings in shares of Matthews International by 3.3% in the 3rd quarter. Clarkston Capital Partners LLC now owns 1,112,884 shares of the company’s stock valued at $69,277,000 after acquiring an additional 35,723 shares during the last quarter. Institutional investors own 78.60% of the company’s stock.
Shares of Matthews International Corp (NASDAQ:MATW) opened at $56.65 on Friday. Matthews International Corp has a 1 year low of $52.85 and a 1 year high of $77.85. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.49 and a current ratio of 2.09. The firm has a market capitalization of $1,782.64, a P/E ratio of 15.53 and a beta of 1.12.
Matthews International (NASDAQ:MATW) last posted its quarterly earnings results on Thursday, November 16th. The company reported $1.06 EPS for the quarter, missing the consensus estimate of $1.09 by ($0.03). The business had revenue of $396.10 million during the quarter, compared to analyst estimates of $389.67 million. Matthews International had a net margin of 4.83% and a return on equity of 15.77%. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.08 earnings per share. equities analysts predict that Matthews International Corp will post 3.83 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 11th. Stockholders of record on Monday, November 27th will be issued a $0.19 dividend. This is a boost from Matthews International’s previous quarterly dividend of $0.17. This represents a $0.76 annualized dividend and a dividend yield of 1.34%. The ex-dividend date is Friday, November 24th. Matthews International’s dividend payout ratio (DPR) is currently 33.78%.
A number of research analysts have recently commented on MATW shares. Zacks Investment Research upgraded Matthews International from a “sell” rating to a “hold” rating in a report on Monday, October 2nd. BidaskClub downgraded Matthews International from a “sell” rating to a “strong sell” rating in a report on Friday, August 18th. Finally, B. Riley restated a “buy” rating and set a $92.00 price target on shares of Matthews International in a research note on Monday, November 20th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $83.50.
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About Matthews International
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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