Matthews International Co. (NASDAQ:MATW) Stock Position Lowered by New York State Teachers Retirement System

New York State Teachers Retirement System lessened its position in Matthews International Co. (NASDAQ:MATWGet Rating) by 3.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 61,968 shares of the company’s stock after selling 2,104 shares during the quarter. New York State Teachers Retirement System owned approximately 0.20% of Matthews International worth $1,389,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. US Bancorp DE lifted its position in shares of Matthews International by 92.3% in the 1st quarter. US Bancorp DE now owns 854 shares of the company’s stock valued at $28,000 after acquiring an additional 410 shares in the last quarter. Cruiser Capital Advisors LLC purchased a new stake in shares of Matthews International in the 1st quarter valued at approximately $32,000. Whittier Trust Co. purchased a new stake in shares of Matthews International in the 3rd quarter valued at approximately $34,000. Federated Hermes Inc. increased its stake in Matthews International by 728.5% in the 1st quarter. Federated Hermes Inc. now owns 1,715 shares of the company’s stock valued at $55,000 after buying an additional 1,508 shares during the period. Finally, Captrust Financial Advisors increased its stake in Matthews International by 196.8% in the 1st quarter. Captrust Financial Advisors now owns 1,739 shares of the company’s stock valued at $56,000 after buying an additional 1,153 shares during the period. Hedge funds and other institutional investors own 81.25% of the company’s stock.

Insider Transactions at Matthews International

In other news, CEO Joseph C. Bartolacci sold 10,000 shares of the stock in a transaction on Monday, November 21st. The shares were sold at an average price of $30.17, for a total transaction of $301,700.00. Following the transaction, the chief executive officer now owns 345,117 shares in the company, valued at approximately $10,412,179.89. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 3.20% of the stock is currently owned by company insiders.

Matthews International Stock Down 0.1 %

Matthews International stock opened at $37.01 on Thursday. The firm has a market cap of $1.12 billion, a PE ratio of -11.49 and a beta of 1.11. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.98 and a current ratio of 1.53. The firm’s 50 day moving average price is $31.86 and its two-hundred day moving average price is $27.84. Matthews International Co. has a twelve month low of $22.12 and a twelve month high of $37.90.

Matthews International (NASDAQ:MATWGet Rating) last released its quarterly earnings data on Thursday, November 17th. The company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.75 by $0.07. The firm had revenue of $457.13 million for the quarter, compared to analyst estimates of $415.53 million. Matthews International had a negative net margin of 5.66% and a positive return on equity of 15.37%. On average, research analysts predict that Matthews International Co. will post 2.87 EPS for the current fiscal year.

Matthews International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 12th. Stockholders of record on Monday, November 28th were paid a dividend of $0.23 per share. This is a positive change from Matthews International’s previous quarterly dividend of $0.22. The ex-dividend date was Friday, November 25th. This represents a $0.92 annualized dividend and a dividend yield of 2.49%. Matthews International’s dividend payout ratio is -28.57%.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on shares of Matthews International in a research note on Wednesday, October 12th. They issued a “buy” rating on the stock.

Matthews International Profile

(Get Rating)

Matthews International Corporation provides brand solutions, memorialization products, and industrial technologies worldwide. It operates through three segments: Memorialization, Industrial Technologies, and SGK Brand Solutions. The Memorialization segment provides bronze and granite memorials, upright granite memorials and monuments, concrete burial vaults, cremation memorialization products, granite benches, flower vases, crypt plates and letters, cremation urns, niche units, cemetery features, and statues, as well as bronze plaques, emblems, lights, photo ceramics, caskets, and cremation and incineration equipment for the cemetery and funeral home industries.

Recommended Stories

Institutional Ownership by Quarter for Matthews International (NASDAQ:MATW)

Receive News & Ratings for Matthews International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Matthews International and related companies with MarketBeat.com's FREE daily email newsletter.