CWM Advisors LLC boosted its stake in shares of Matthews International Corp (NASDAQ:MATW) by 81.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,846 shares of the company’s stock after purchasing an additional 4,885 shares during the quarter. CWM Advisors LLC’s holdings in Matthews International were worth $262,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its stake in Matthews International by 3.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 322,721 shares of the company’s stock valued at $12,319,000 after purchasing an additional 11,483 shares during the last quarter. Amalgamated Bank acquired a new position in shares of Matthews International in the 4th quarter valued at $200,000. UBS Asset Management Americas Inc. raised its stake in shares of Matthews International by 24.2% in the 4th quarter. UBS Asset Management Americas Inc. now owns 26,298 shares of the company’s stock valued at $1,004,000 after buying an additional 5,128 shares in the last quarter. Great West Life Assurance Co. Can acquired a new position in shares of Matthews International in the 4th quarter valued at $1,509,000. Finally, Bank of America Corp DE raised its stake in shares of Matthews International by 8.5% in the 4th quarter. Bank of America Corp DE now owns 98,228 shares of the company’s stock valued at $3,749,000 after buying an additional 7,732 shares in the last quarter. Hedge funds and other institutional investors own 81.43% of the company’s stock.
In related news, Director Tunon Alvaro Garcia acquired 2,500 shares of the firm’s stock in a transaction on Friday, February 28th. The shares were purchased at an average price of $29.00 per share, with a total value of $72,500.00. Following the acquisition, the director now directly owns 27,259 shares in the company, valued at $790,511. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Edward M. Brady, Jr. acquired 2,000 shares of the firm’s stock in a transaction on Thursday, March 12th. The shares were bought at an average cost of $24.00 per share, for a total transaction of $48,000.00. Following the acquisition, the insider now owns 6,920 shares in the company, valued at $166,080. The disclosure for this purchase can be found here. Company insiders own 3.40% of the company’s stock.
Matthews International (NASDAQ:MATW) last announced its earnings results on Thursday, May 7th. The company reported $0.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.25. The business had revenue of $374.80 million during the quarter, compared to analysts’ expectations of $367.59 million. Matthews International had a negative net margin of 10.15% and a positive return on equity of 13.12%. On average, equities analysts anticipate that Matthews International Corp will post 2.56 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, May 18th. Investors of record on Monday, May 4th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 4.10%. The ex-dividend date was Friday, May 1st. Matthews International’s dividend payout ratio (DPR) is currently 25.38%.
A number of brokerages have recently issued reports on MATW. ValuEngine cut shares of Matthews International from a “hold” rating to a “sell” rating in a research note on Tuesday, March 3rd. Zacks Investment Research cut shares of Matthews International from a “buy” rating to a “hold” rating in a research note on Thursday, April 30th. BidaskClub cut shares of Matthews International from a “sell” rating to a “strong sell” rating in a research note on Friday, January 31st. Finally, B. Riley dropped their price objective on shares of Matthews International from $65.00 to $50.00 and set a “buy” rating for the company in a research note on Wednesday, April 29th.
About Matthews International
Matthews International Corporation provides brand solutions, memorialization products, and industrial products worldwide. The company's SGK Brand Solutions segment provides brand development and graphic design services, such as visual intellectual properties, packaging, and content creation; brand deployment and activation services, including design and production of merchandising exhibits and shopper experiences in digital and printed media channels; and consulting services to brand owners on workflow best practices, management and technologies, printing quality, measurement, and consistency.
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