Sei Investments Co. Has $6.02 Million Stake in Matthews International Corporation $MATW

Sei Investments Co. lifted its stake in Matthews International Corporation (NASDAQ:MATW) by 12.9% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 233,065 shares of the company’s stock after purchasing an additional 26,572 shares during the quarter. Sei Investments Co.’s holdings in Matthews International were worth $6,018,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in MATW. Price T Rowe Associates Inc. MD raised its holdings in Matthews International by 0.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 81,127 shares of the company’s stock valued at $2,121,000 after acquiring an additional 606 shares in the last quarter. US Bancorp DE grew its holdings in shares of Matthews International by 45.9% during the 3rd quarter. US Bancorp DE now owns 2,063 shares of the company’s stock worth $50,000 after purchasing an additional 649 shares in the last quarter. Smartleaf Asset Management LLC increased its position in shares of Matthews International by 25.0% in the second quarter. Smartleaf Asset Management LLC now owns 3,445 shares of the company’s stock worth $84,000 after purchasing an additional 689 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Matthews International by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,686 shares of the company’s stock worth $393,000 after purchasing an additional 780 shares during the period. Finally, Illinois Municipal Retirement Fund raised its stake in Matthews International by 5.2% in the first quarter. Illinois Municipal Retirement Fund now owns 15,969 shares of the company’s stock valued at $412,000 after purchasing an additional 786 shares in the last quarter. Institutional investors and hedge funds own 83.08% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on MATW shares. Weiss Ratings cut shares of Matthews International from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, May 6th. Wall Street Zen cut shares of Matthews International from a “buy” rating to a “hold” rating in a research report on Sunday, May 10th. Finally, Zacks Research upgraded shares of Matthews International from a “strong sell” rating to a “hold” rating in a research report on Monday, April 6th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Matthews International presently has an average rating of “Reduce”.

Matthews International Trading Up 1.2%

MATW opened at $28.07 on Tuesday. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.64 and a quick ratio of 0.97. Matthews International Corporation has a fifty-two week low of $21.95 and a fifty-two week high of $30.93. The company’s 50 day moving average price is $26.75 and its two-hundred day moving average price is $26.61. The firm has a market capitalization of $875.84 million, a price-to-earnings ratio of 90.55 and a beta of 1.08.

Matthews International Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, August 10th will be paid a $0.255 dividend. The ex-dividend date of this dividend is Monday, August 10th. This represents a $1.02 annualized dividend and a dividend yield of 3.6%. Matthews International’s payout ratio is currently 329.03%.

Matthews International Company Profile

Matthews International Corporation (NASDAQ:MATW) is a diversified industrial company headquartered in Pittsburgh, Pennsylvania. The company operates through two primary business segments—Brand Solutions and Memorialization—offering a broad range of products and services designed to meet the needs of industrial manufacturers, brand marketers and the funeral industry worldwide.

In its Brand Solutions segment, Matthews International provides engraving and digital printing systems, automated finishing equipment, thermal management products and electronics assembly solutions.