Intech Investment Management LLC Purchases 70,264 Shares of Matthews International Corporation $MATW

Intech Investment Management LLC raised its position in Matthews International Corporation (NASDAQ:MATW) by 228.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 101,041 shares of the company’s stock after purchasing an additional 70,264 shares during the period. Intech Investment Management LLC owned 0.32% of Matthews International worth $2,639,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of MATW. Private Capital Management LLC bought a new position in Matthews International in the 3rd quarter valued at $8,215,000. Cannell Capital LLC bought a new position in Matthews International in the 2nd quarter valued at $5,926,000. Ameriprise Financial Inc. boosted its holdings in 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 during the period. Gamco Investors INC. ET AL boosted its holdings in Matthews International by 9.7% in the 4th quarter. Gamco Investors INC. ET AL now owns 1,554,105 shares of the company’s stock valued at $40,593,000 after purchasing an additional 136,794 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in Matthews International by 498,188.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 84,709 shares of the company’s stock valued at $2,213,000 after purchasing an additional 84,692 shares during the period. 83.08% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on MATW shares. Weiss Ratings cut shares of Matthews International from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, May 6th. Wall Street Zen cut shares of Matthews International from a “buy” rating to a “hold” rating in a research report on Sunday, May 10th. Finally, Zacks Research upgraded shares of Matthews International from a “strong sell” rating to a “hold” rating in a research report on Monday, April 6th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce”.

Matthews International Stock Performance

Matthews International stock opened at $26.10 on Wednesday. The firm’s fifty day moving average price is $26.82 and its 200-day moving average price is $26.35. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.97 and a current ratio of 1.64. The stock has a market cap of $814.32 million, a P/E ratio of 84.19 and a beta of 1.08. Matthews International Corporation has a fifty-two week low of $20.74 and a fifty-two week high of $30.93.

Matthews International (NASDAQ:MATW) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.20. The firm had revenue of $258.62 million for the quarter, compared to analysts’ expectations of $253.65 million. Matthews International had a net margin of 0.80% and a return on equity of 5.88%. On average, equities research analysts expect that Matthews International Corporation will post 1.09 earnings per share for the current fiscal year.

Matthews International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 25th. Stockholders of record on Monday, May 11th were issued a $0.255 dividend. The ex-dividend date was Monday, May 11th. This represents a $1.02 annualized dividend and a dividend yield of 3.9%. Matthews International’s payout ratio is currently 329.03%.

Matthews International Company 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.