Principal Financial Group Inc. Reduces Holdings in Matthews International Co. (NASDAQ:MATW)

Principal Financial Group Inc. trimmed its position in Matthews International Co. (NASDAQ:MATW) by 4.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 144,186 shares of the company’s stock after selling 7,203 shares during the quarter. Principal Financial Group Inc. owned approximately 0.47% of Matthews International worth $3,345,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Point72 DIFC Ltd bought a new position in Matthews International during the second quarter valued at approximately $49,000. nVerses Capital LLC purchased a new stake in shares of Matthews International in the second quarter worth $110,000. SG Americas Securities LLC bought a new stake in shares of Matthews International during the second quarter valued at approximately $112,000. XTX Topco Ltd purchased a new position in Matthews International in the 2nd quarter worth about $246,000. Finally, Inspire Investing LLC boosted its position in Matthews International by 20.0% in the second quarter. Inspire Investing LLC now owns 15,590 shares of the company’s stock worth $391,000 after purchasing an additional 2,598 shares during the last quarter. Institutional investors own 83.08% of the company’s stock.

Matthews International Trading Up 6.0 %

MATW opened at $25.53 on Friday. Matthews International Co. has a 12 month low of $21.09 and a 12 month high of $39.12. The firm has a market cap of $781.12 million, a P/E ratio of 30.54 and a beta of 1.06. The company has a current ratio of 1.66, a quick ratio of 1.02 and a debt-to-equity ratio of 1.64. The stock has a 50-day moving average of $23.09 and a 200 day moving average of $25.23.

Analyst Upgrades and Downgrades

Separately, B. Riley decreased their target price on shares of Matthews International from $54.00 to $40.00 and set a “buy” rating on the stock in a research note on Thursday, September 26th.

Matthews International Company Profile

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, letters, emblems, vases, lights and photo ceramics, granite monuments, mausoleums, crypts, and flush memorials.