Nuveen Asset Management LLC Increases Stake in Matthews International Corp (NASDAQ:MATW)

Nuveen Asset Management LLC increased its position in shares of Matthews International Corp (NASDAQ:MATW) by 7.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 138,545 shares of the company’s stock after buying an additional 9,740 shares during the period. Nuveen Asset Management LLC owned about 0.44% of Matthews International worth $3,352,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in MATW. Paradigm Asset Management Co. LLC purchased a new position in Matthews International in the fourth quarter valued at about $97,000. Bank of Montreal Can grew its stake in Matthews International by 28.7% in the fourth quarter. Bank of Montreal Can now owns 4,823 shares of the company’s stock valued at $184,000 after purchasing an additional 1,076 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in Matthews International by 17.3% in the fourth quarter. PNC Financial Services Group Inc. now owns 5,211 shares of the company’s stock valued at $199,000 after purchasing an additional 768 shares during the last quarter. Amalgamated Bank purchased a new position in Matthews International in the fourth quarter valued at about $200,000. Finally, Private Advisor Group LLC purchased a new position in Matthews International in the fourth quarter valued at about $209,000. Hedge funds and other institutional investors own 83.46% of the company’s stock.

Several brokerages have weighed in on MATW. Zacks Investment Research downgraded Matthews International from a “buy” rating to a “hold” rating in a report on Thursday, April 30th. B. Riley lowered their price target on Matthews International from $65.00 to $50.00 and set a “buy” rating for the company in a report on Wednesday, April 29th. Finally, ValuEngine downgraded Matthews International from a “hold” rating to a “sell” rating in a report on Tuesday, March 3rd.

Matthews International stock opened at $18.99 on Wednesday. The stock has a market capitalization of $593.82 million, a PE ratio of -3.85 and a beta of 1.12. Matthews International Corp has a 12 month low of $17.01 and a 12 month high of $40.36. The business has a 50 day simple moving average of $20.24 and a 200-day simple moving average of $27.95. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.94 and a quick ratio of 1.36.

Matthews International (NASDAQ:MATW) last posted its quarterly earnings data on Thursday, May 7th. The company reported $0.63 EPS for the quarter, beating the Zacks’ consensus estimate 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 positive return on equity of 13.12% and a negative net margin of 10.15%. On average, equities research analysts anticipate that Matthews International Corp will post 2.56 EPS for the current fiscal year.

In other news, insider Edward M. Brady, Jr. purchased 2,000 shares of the company’s stock in a transaction that occurred on Thursday, June 11th. The stock was purchased at an average cost of $19.00 per share, for a total transaction of $38,000.00. Following the completion of the transaction, the insider now owns 8,920 shares of the company’s stock, valued at $169,480. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 3.40% of the stock is currently owned by insiders.

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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Institutional Ownership by Quarter for Matthews International (NASDAQ:MATW)

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