Intech Investment Management LLC Has $287,000 Stock Holdings in Matthews International Corporation $MATW

Intech Investment Management LLC trimmed its holdings in shares of Matthews International Corporation (NASDAQ:MATW) by 79.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,007 shares of the company’s stock after selling 47,495 shares during the period. Intech Investment Management LLC’s holdings in Matthews International were worth $287,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. GAMMA Investing LLC increased its holdings in shares of Matthews International by 55.1% in the 2nd quarter. GAMMA Investing LLC now owns 1,687 shares of the company’s stock valued at $40,000 after purchasing an additional 599 shares during the period. Allworth Financial LP grew its position in Matthews International by 4,173.1% during the second quarter. Allworth Financial LP now owns 4,615 shares of the company’s stock valued at $110,000 after purchasing an additional 4,507 shares in the last quarter. Janney Montgomery Scott LLC purchased a new position in Matthews International during the second quarter valued at approximately $202,000. Simplex Trading LLC lifted its position in Matthews International by 613.7% in the 2nd quarter. Simplex Trading LLC now owns 9,236 shares of the company’s stock worth $220,000 after buying an additional 11,034 shares in the last quarter. Finally, Maven Securities LTD purchased a new stake in Matthews International in the 1st quarter worth approximately $334,000. 83.08% of the stock is currently owned by institutional investors and hedge funds.

Matthews International Stock Performance

Shares of MATW opened at $24.49 on Tuesday. The firm has a market cap of $754.19 million, a price-to-earnings ratio of -11.55 and a beta of 1.30. The company’s fifty day moving average is $23.86 and its 200-day moving average is $23.71. The company has a quick ratio of 0.98, a current ratio of 1.66 and a debt-to-equity ratio of 1.35. Matthews International Corporation has a 12 month low of $18.50 and a 12 month high of $32.00.

Matthews International (NASDAQ:MATW) last issued its quarterly earnings data on Friday, November 21st. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.28. Matthews International had a negative net margin of 4.01% and a positive return on equity of 9.15%. The firm had revenue of $318.84 million during the quarter, compared to analysts’ expectations of $290.79 million. Equities analysts expect that Matthews International Corporation will post 1.73 EPS for the current fiscal year.

Matthews International Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be paid a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend is Monday, December 1st. This is a positive change from Matthews International’s previous quarterly dividend of $0.25. Matthews International’s dividend payout ratio (DPR) is -129.11%.

Analysts Set New Price Targets

MATW has been the topic of several research analyst reports. Wall Street Zen upgraded shares of Matthews International from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Weiss Ratings restated a “sell (d)” rating on shares of Matthews International in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Matthews International currently has a consensus rating of “Sell”.

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.