Seizert Capital Partners LLC lowered its position in shares of Matthews International Corp (NASDAQ:MATW) by 4.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 61,594 shares of the company’s stock after selling 2,706 shares during the quarter. Seizert Capital Partners LLC owned approximately 0.19% of Matthews International worth $2,147,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in MATW. Advisor Group Inc. grew its stake in Matthews International by 30.2% in the second quarter. Advisor Group Inc. now owns 1,683 shares of the company’s stock valued at $59,000 after acquiring an additional 390 shares during the period. Campbell & CO Investment Adviser LLC acquired a new position in Matthews International in the first quarter valued at about $211,000. SG Americas Securities LLC acquired a new position in Matthews International in the first quarter valued at about $215,000. Everence Capital Management Inc. acquired a new position in Matthews International in the second quarter valued at about $202,000. Finally, Stone Ridge Asset Management LLC acquired a new position in Matthews International in the second quarter valued at about $209,000. Institutional investors own 82.46% of the company’s stock.
MATW has been the subject of a number of research analyst reports. Zacks Investment Research raised Matthews International from a “hold” rating to a “buy” rating and set a $35.00 target price for the company in a research note on Wednesday, August 7th. BidaskClub cut Matthews International from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 15th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $58.67.
Shares of Matthews International stock traded down $0.37 during trading on Friday, reaching $29.83. The stock had a trading volume of 98,017 shares, compared to its average volume of 115,642. The company has a market capitalization of $950.95 million, a price-to-earnings ratio of 8.56 and a beta of 1.16. The stock has a fifty day moving average price of $32.70 and a two-hundred day moving average price of $36.33. Matthews International Corp has a 52 week low of $29.04 and a 52 week high of $53.70. The company has a current ratio of 1.96, a quick ratio of 1.36 and a debt-to-equity ratio of 1.09.
Matthews International (NASDAQ:MATW) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.04). The firm had revenue of $379.30 million during the quarter, compared to the consensus estimate of $388.38 million. Matthews International had a net margin of 4.04% and a return on equity of 13.20%. The business’s revenue for the quarter was down 7.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.16 earnings per share. On average, equities analysts forecast that Matthews International Corp will post 3.6 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Monday, August 5th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.68%. This is a positive change from Matthews International’s previous quarterly dividend of $0.13. The ex-dividend date was Friday, August 2nd. Matthews International’s payout ratio is 20.20%.
Matthews International Profile
Matthews International Corporation provides brand solutions, memorialization products, and industrial products worldwide. The company's SGK Brand Solutions segment provides brand development and graphic design services, such as visual intellectual properties, packaging, and content creation; brand deployment and activation services, including design and production of merchandising exhibits and shopper experiences in digital and printed media channels; and consulting services to brand owners on workflow best practices, management and technologies, printing quality, measurement, and consistency.
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