Citadel Advisors LLC trimmed its stake in Matthews International Corp (NASDAQ:MATW) by 25.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,604 shares of the company’s stock after selling 10,021 shares during the period. Citadel Advisors LLC owned 0.09% of Matthews International worth $1,843,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in MATW. Voya Investment Management LLC raised its position in shares of Matthews International by 117.3% in the 2nd quarter. Voya Investment Management LLC now owns 395,018 shares of the company’s stock worth $24,195,000 after acquiring an additional 213,201 shares in the last quarter. Nordea Investment Management AB raised its position in shares of Matthews International by 129.6% in the 2nd quarter. Nordea Investment Management AB now owns 183,186 shares of the company’s stock worth $11,220,000 after acquiring an additional 103,398 shares in the last quarter. Channing Capital Management LLC raised its position in shares of Matthews International by 12.7% in the 3rd quarter. Channing Capital Management LLC now owns 885,504 shares of the company’s stock worth $55,123,000 after acquiring an additional 99,837 shares in the last quarter. FMR LLC raised its position in shares of Matthews International by 14.3% in the 2nd quarter. FMR LLC now owns 764,748 shares of the company’s stock worth $46,841,000 after acquiring an additional 95,500 shares in the last quarter. Finally, Clarkston Capital Partners LLC raised its position in shares of Matthews International by 3.3% in the 3rd quarter. Clarkston Capital Partners LLC now owns 1,112,884 shares of the company’s stock worth $69,277,000 after acquiring an additional 35,723 shares in the last quarter. 78.65% of the stock is owned by hedge funds and other institutional investors.
MATW has been the topic of several recent analyst reports. B. Riley reaffirmed a “buy” rating and set a $92.00 target price on shares of Matthews International in a research report on Monday, November 20th. Zacks Investment Research raised Matthews International from a “sell” rating to a “hold” rating in a research report on Monday, October 2nd. Finally, BidaskClub lowered Matthews International from a “sell” rating to a “strong sell” rating in a research report on Friday, August 18th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. Matthews International has a consensus rating of “Hold” and an average target price of $83.50.
Matthews International (NASDAQ:MATW) last announced its earnings results on Thursday, November 16th. The company reported $1.06 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.09 by ($0.03). Matthews International had a net margin of 4.83% and a return on equity of 15.77%. The business had revenue of $396.10 million for the quarter, compared to analyst estimates of $389.67 million. During the same period in the prior year, the company earned $1.08 earnings per share. The company’s quarterly revenue was up 5.1% on a year-over-year basis. equities analysts predict that Matthews International Corp will post 3.83 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Monday, November 27th will be given a dividend of $0.19 per share. This is a positive change from Matthews International’s previous quarterly dividend of $0.17. This represents a $0.76 annualized dividend and a yield of 1.35%. The ex-dividend date is Friday, November 24th. Matthews International’s dividend payout ratio is currently 33.78%.
About Matthews International
Matthews International Corporation is a provider of brand solutions, memorialization products and industrial technologies. The Company operates through three segments: SGK Brand Solutions, Memorialization and Industrial Technologies. The SGK Brand Solutions segment provides brand development, deployment and delivery (consisting of brand management, printing plates and cylinders, pre-media services and imaging services for consumer packaged goods and retail customers, merchandising display systems, and marketing and design services).
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