Matthews International Corporation $MATW Stake Lowered by Goldman Sachs Group Inc.

Goldman Sachs Group Inc. reduced its stake in shares of Matthews International Corporation (NASDAQ:MATW) by 29.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 159,910 shares of the company’s stock after selling 66,089 shares during the period. Goldman Sachs Group Inc. owned 0.52% of Matthews International worth $3,556,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of MATW. Bank of America Corp DE grew its holdings in shares of Matthews International by 21.2% during the 4th quarter. Bank of America Corp DE now owns 119,025 shares of the company’s stock valued at $3,295,000 after acquiring an additional 20,809 shares in the last quarter. Deutsche Bank AG grew its holdings in shares of Matthews International by 53.8% during the 4th quarter. Deutsche Bank AG now owns 27,832 shares of the company’s stock valued at $770,000 after acquiring an additional 9,734 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Matthews International by 3.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,906 shares of the company’s stock valued at $468,000 after acquiring an additional 593 shares in the last quarter. Nuveen Asset Management LLC grew its holdings in shares of Matthews International by 43.3% during the 4th quarter. Nuveen Asset Management LLC now owns 117,263 shares of the company’s stock valued at $3,246,000 after acquiring an additional 35,425 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its stake in shares of Matthews International by 12.6% in the 4th quarter. Two Sigma Advisers LP now owns 140,300 shares of the company’s stock valued at $3,884,000 after purchasing an additional 15,697 shares during the last quarter. 83.08% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Matthews International Stock Up 3.6%

Shares of MATW opened at $25.89 on Friday. The company has a 50-day simple moving average of $24.47 and a 200-day simple moving average of $22.72. The firm has a market capitalization of $797.15 million, a P/E ratio of -12.21 and a beta of 1.27. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.98 and a current ratio of 1.66. 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 quarterly earnings data on Tuesday, August 5th. The company reported $0.28 EPS for the quarter, missing analysts’ consensus estimates 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 negative net margin of 4.01% and a positive return on equity of 9.15%. On average, equities research analysts expect that Matthews International Corporation will post 1.73 earnings per share for the current year.

Matthews International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 25th. Investors of record on Monday, August 11th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.00 dividend on an annualized basis and a yield of 3.9%. Matthews International’s payout ratio is presently -47.17%.

Matthews International 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.