Matthews International Co. (NASDAQ:MATW) Shares Sold by Strs Ohio

Strs Ohio cut its stake in shares of Matthews International Co. (NASDAQ:MATW – Get Rating) by 51.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,300 shares of the company’s stock after selling 6,600 shares during the period. Strs Ohio’s holdings in Matthews International were worth $141,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. US Bancorp DE raised its position in shares of Matthews International by 92.3% during the first quarter. US Bancorp DE now owns 854 shares of the company’s stock worth $28,000 after purchasing an additional 410 shares during the period. Cruiser Capital Advisors LLC acquired a new stake in shares of Matthews International during the first quarter worth $32,000. Whittier Trust Co. acquired a new stake in shares of Matthews International during the third quarter worth $34,000. Eagle Bay Advisors LLC raised its position in shares of Matthews International by 94.3% during the second quarter. Eagle Bay Advisors LLC now owns 1,751 shares of the company’s stock worth $50,000 after purchasing an additional 850 shares during the period. Finally, Grant Street Asset Management Inc. acquired a new stake in shares of Matthews International during the second quarter worth $54,000. 81.25% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on Matthews International in a research report on Wednesday, October 12th. They set a “buy” rating on the stock.

Insiders Place Their Bets

In other Matthews International news, CEO Joseph C. Bartolacci sold 10,000 shares of the company’s stock in a transaction dated Monday, November 21st. The stock was sold at an average price of $30.17, for a total value of $301,700.00. Following the transaction, the chief executive officer now directly owns 345,117 shares of the company’s stock, valued at approximately $10,412,179.89. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 3.20% of the company’s stock.

Matthews International Stock Down 0.4 %

NASDAQ:MATW opened at $36.19 on Friday. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of -11.24 and a beta of 1.11. Matthews International Co. has a 1-year low of $22.12 and a 1-year high of $37.90. The company has a current ratio of 1.53, a quick ratio of 0.98 and a debt-to-equity ratio of 1.63. The business’s fifty day moving average price is $32.22 and its 200 day moving average price is $27.94.

Matthews International (NASDAQ:MATW – Get Rating) last posted its quarterly earnings results 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 positive return on equity of 15.37% and a negative net margin of 5.66%. On average, sell-side analysts forecast that Matthews International Co. will post 2.87 earnings per share for the current fiscal year.

Matthews International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 12th. Shareholders of record on Monday, November 28th were given a $0.23 dividend. This is a positive change from Matthews International’s previous quarterly dividend of $0.22. This represents a $0.92 annualized dividend and a yield of 2.54%. The ex-dividend date of this dividend was Friday, November 25th. Matthews International’s dividend payout ratio is presently -28.57%.

Matthews International Company Profile

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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.