Gabelli Funds LLC raised its stake in Matthews International Corp (NASDAQ:MATW) by 12.0% in the 2nd quarter, HoldingsChannel reports. The firm owned 48,721 shares of the company’s stock after acquiring an additional 5,221 shares during the quarter. Gabelli Funds LLC’s holdings in Matthews International were worth $2,865,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of MATW. Russell Investments Group Ltd. increased its stake in Matthews International by 1,902.2% in the first quarter. Russell Investments Group Ltd. now owns 367,337 shares of the company’s stock valued at $18,587,000 after purchasing an additional 348,990 shares in the last quarter. Clarkston Capital Partners LLC increased its stake in Matthews International by 28.0% in the second quarter. Clarkston Capital Partners LLC now owns 1,437,502 shares of the company’s stock valued at $84,525,000 after purchasing an additional 314,408 shares in the last quarter. BlackRock Inc. increased its stake in Matthews International by 6.7% in the second quarter. BlackRock Inc. now owns 4,414,034 shares of the company’s stock valued at $259,544,000 after purchasing an additional 279,068 shares in the last quarter. Ceredex Value Advisors LLC bought a new stake in Matthews International in the first quarter valued at $11,641,000. Finally, Rutabaga Capital Management LLC MA bought a new stake in Matthews International in the second quarter valued at $8,110,000. 81.15% of the stock is owned by hedge funds and other institutional investors.
NASDAQ:MATW opened at $52.35 on Friday. The company has a quick ratio of 1.45, a current ratio of 2.05 and a debt-to-equity ratio of 1.20. The stock has a market cap of $1.68 billion, a PE ratio of 13.79 and a beta of 1.05. Matthews International Corp has a one year low of $47.70 and a one year high of $65.10.
Matthews International (NASDAQ:MATW) last posted its earnings results on Thursday, July 26th. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $1.14 by $0.02. The company had revenue of $411.62 million during the quarter, compared to the consensus estimate of $421.59 million. Matthews International had a net margin of 6.12% and a return on equity of 14.70%. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.05 earnings per share. equities analysts predict that Matthews International Corp will post 3.9 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, August 13th. Stockholders of record on Monday, July 30th were given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.45%. The ex-dividend date was Friday, July 27th. Matthews International’s payout ratio is presently 21.11%.
Several equities research analysts have weighed in on MATW shares. TheStreet downgraded shares of Matthews International from a “b” rating to a “c+” rating in a research note on Monday, August 20th. BidaskClub raised shares of Matthews International from a “hold” rating to a “buy” rating in a research note on Tuesday, June 19th. ValuEngine downgraded shares of Matthews International from a “sell” rating to a “strong sell” rating in a research note on Saturday, July 28th. Finally, Zacks Investment Research downgraded shares of Matthews International from a “buy” rating to a “hold” rating in a research note on Thursday, June 28th. Two research analysts have rated the stock with a sell rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $74.50.
Matthews International Profile
Matthews International Corporation provides brand solutions, memorialization products, and industrial products in the United States, Central and South America, Canada, Europe, Australia, and Asia. It operates through three segments: SGK Brand Solutions, Memorialization, and Industrial Technologies. The SGK Brand Solutions segment provides brand development, deployment, delivery, brand management, 3-D graphics renderings, pre-media graphics services, printing plates, gravure cylinders, steel bases, embossing tools, special purpose machinery, engineering assistance, print process assistance, print production management, digital asset management, content management, and package design services to brand owners and packaging manufacturers; and creative digital graphics services, as well as designs, engineers, manufactures, and executes merchandising and display systems.
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