BRYN MAWR TRUST Co Has $1.18 Million Stake in Matthews International Corp (MATW)
BRYN MAWR TRUST Co cut its stake in shares of Matthews International Corp (NASDAQ:MATW) by 5.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,247 shares of the company’s stock after selling 1,350 shares during the period. BRYN MAWR TRUST Co owned 0.07% of Matthews International worth $1,175,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Suntrust Banks Inc. grew its holdings in shares of Matthews International by 12.2% during the fourth quarter. Suntrust Banks Inc. now owns 8,755 shares of the company’s stock worth $462,000 after purchasing an additional 955 shares in the last quarter. UBS Asset Management Americas Inc. grew its holdings in shares of Matthews International by 5.0% during the fourth quarter. UBS Asset Management Americas Inc. now owns 20,744 shares of the company’s stock worth $1,095,000 after purchasing an additional 997 shares in the last quarter. Meadow Creek Investment Management LLC grew its holdings in shares of Matthews International by 25.9% during the fourth quarter. Meadow Creek Investment Management LLC now owns 4,964 shares of the company’s stock worth $262,000 after purchasing an additional 1,020 shares in the last quarter. Teachers Advisors LLC grew its holdings in shares of Matthews International by 1.9% during the fourth quarter. Teachers Advisors LLC now owns 56,560 shares of the company’s stock worth $2,986,000 after purchasing an additional 1,079 shares in the last quarter. Finally, Prudential Financial Inc. grew its holdings in shares of Matthews International by 2.2% during the third quarter. Prudential Financial Inc. now owns 55,668 shares of the company’s stock worth $3,465,000 after purchasing an additional 1,190 shares in the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.
MATW has been the subject of several recent analyst reports. B. Riley reissued a “buy” rating and set a $92.00 price objective on shares of Matthews International in a report on Monday, January 22nd. Zacks Investment Research raised Matthews International from a “hold” rating to a “buy” rating and set a $58.00 price objective for the company in a report on Wednesday. Wellington Shields raised Matthews International from a “hold” rating to a “gradually accumulate” rating in a report on Thursday, March 1st. ValuEngine lowered Matthews International from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. Finally, BidaskClub raised Matthews International from a “strong sell” rating to a “sell” rating in a report on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $75.00.
Matthews International (NASDAQ:MATW) last issued its earnings results on Thursday, January 25th. The company reported $0.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.58 by $0.06. The business had revenue of $369.50 million during the quarter, compared to analyst estimates of $355.84 million. Matthews International had a return on equity of 15.09% and a net margin of 6.46%. Matthews International’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.62 earnings per share. equities analysts expect that Matthews International Corp will post 3.89 EPS for the current year.
In other news, Director Tunon Alvaro Garcia bought 1,000 shares of the business’s stock in a transaction on Monday, February 5th. The stock was acquired at an average price of $52.00 per share, with a total value of $52,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Robert M. Marsh bought 3,000 shares of the business’s stock in a transaction on Tuesday, January 30th. The stock was purchased at an average cost of $55.50 per share, with a total value of $166,500.00. Following the purchase, the vice president now owns 16,207 shares of the company’s stock, valued at $899,488.50. The disclosure for this purchase can be found here. 3.80% of the stock is owned by corporate insiders.
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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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