Sequoia Financial Advisors LLC Acquires Shares of 26,730 Matthews International Corporation $MATW

Sequoia Financial Advisors LLC purchased a new stake in Matthews International Corporation (NASDAQ:MATW) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 26,730 shares of the company’s stock, valued at approximately $690,000. Sequoia Financial Advisors LLC owned 0.09% of Matthews International as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of MATW. Ameriprise Financial Inc. raised its holdings in shares of Matthews International by 9.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,664,426 shares of the company’s stock valued at $39,796,000 after purchasing an additional 137,015 shares in the last quarter. Gamco Investors INC. ET AL increased its holdings in Matthews International by 9.7% during the fourth quarter. Gamco Investors INC. ET AL now owns 1,554,105 shares of the company’s stock valued at $40,593,000 after buying an additional 136,794 shares during the period. Dimensional Fund Advisors LP increased its holdings in Matthews International by 2.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,530,341 shares of the company’s stock valued at $39,973,000 after buying an additional 29,865 shares during the period. Allspring Global Investments Holdings LLC raised its stake in Matthews International by 2.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,075,479 shares of the company’s stock worth $27,887,000 after buying an additional 22,046 shares in the last quarter. Finally, Private Capital Management LLC lifted its holdings in Matthews International by 201.1% during the fourth quarter. Private Capital Management LLC now owns 1,018,587 shares of the company’s stock worth $26,605,000 after buying an additional 680,256 shares during the period. 83.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MATW has been the subject of several recent research reports. Zacks Research raised Matthews International from a “strong sell” rating to a “hold” rating in a research report on Monday, April 6th. Wall Street Zen downgraded shares of Matthews International from a “buy” rating to a “hold” rating in a report on Sunday, May 10th. Finally, Weiss Ratings lowered shares of Matthews International from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, May 6th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce”.

Matthews International Stock Performance

Shares of MATW stock opened at $27.46 on Monday. Matthews International Corporation has a 12-month low of $21.95 and a 12-month high of $30.93. The business’s fifty day simple moving average is $26.59 and its 200-day simple moving average is $26.54. The company has a current ratio of 1.64, a quick ratio of 0.97 and a debt-to-equity ratio of 1.12. The company has a market cap of $856.75 million, a PE ratio of 88.58 and a beta of 1.08.

Matthews International (NASDAQ:MATW) last announced its earnings results on Thursday, April 30th. The company reported $0.37 earnings per share for the quarter, topping 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 firm had revenue of $258.62 million for the quarter, compared to the consensus estimate of $253.65 million. Analysts expect that Matthews International Corporation will post 1.09 earnings per share for the current fiscal year.

Matthews International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, May 25th. Stockholders of record on Monday, May 11th were paid a dividend of $0.255 per share. The ex-dividend date was Monday, May 11th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 3.7%. Matthews International’s payout ratio is presently 329.03%.

About Matthews International

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.