Nuveen LLC Takes $2.58 Million Position in Matthews International Corporation $MATW

Nuveen LLC acquired a new stake in Matthews International Corporation (NASDAQ:MATW) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 115,913 shares of the company’s stock, valued at approximately $2,578,000. Nuveen LLC owned approximately 0.37% of Matthews International as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. SummerHaven Investment Management LLC grew its holdings in shares of Matthews International by 1.6% in the 1st quarter. SummerHaven Investment Management LLC now owns 32,663 shares of the company’s stock worth $726,000 after purchasing an additional 514 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Matthews International by 3.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,906 shares of the company’s stock valued at $468,000 after purchasing an additional 593 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of Matthews International by 2.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 25,600 shares of the company’s stock valued at $569,000 after purchasing an additional 650 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Matthews International by 2.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 76,715 shares of the company’s stock valued at $2,124,000 after purchasing an additional 1,802 shares during the last quarter. Finally, Nebula Research & Development LLC boosted its stake in Matthews International by 25.9% during the 4th quarter. Nebula Research & Development LLC now owns 14,035 shares of the company’s stock worth $388,000 after acquiring an additional 2,888 shares during the last quarter. Institutional investors own 83.08% of the company’s stock.

Matthews International Stock Performance

Shares of MATW stock opened at $24.19 on Friday. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.98 and a current ratio of 1.66. The company has a market capitalization of $744.81 million, a P/E ratio of -11.41 and a beta of 1.24. The company’s 50 day moving average price is $24.18 and its two-hundred day moving average price is $22.73. Matthews International Corporation has a 52 week low of $18.50 and a 52 week high of $32.24.

Matthews International (NASDAQ:MATW) last announced its earnings results on Tuesday, August 5th. The company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.05). The company had revenue of $349.40 million for the quarter, compared to analyst estimates of $321.95 million. Matthews International had a positive return on equity of 9.15% and a negative net margin of 4.01%. On average, analysts expect that Matthews International Corporation will post 1.73 earnings per share for the current fiscal year.

Matthews International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 25th. Stockholders of record on Monday, August 11th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date of this dividend was Monday, August 11th. Matthews International’s payout ratio is currently -47.17%.

Analysts Set New Price Targets

Separately, Wall Street Zen raised shares of Matthews International from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, Matthews International presently has a consensus rating of “Buy” and an average price target of $40.00.

About Matthews International

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.