Neuberger Berman Group LLC Buys New Position in Matthews International Corp (MATW)
Neuberger Berman Group LLC bought a new position in Matthews International Corp (NASDAQ:MATW) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 3,426 shares of the company’s stock, valued at approximately $213,000.
Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of Matthews International by 0.8% in the second quarter. Vanguard Group Inc. now owns 3,105,791 shares of the company’s stock worth $190,229,000 after acquiring an additional 24,754 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Matthews International by 0.5% in the third quarter. Dimensional Fund Advisors LP now owns 1,263,962 shares of the company’s stock worth $78,682,000 after acquiring an additional 6,103 shares during the last quarter. Clarkston Capital Partners LLC raised its stake in shares of Matthews International by 3.3% in the third 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 during the last quarter. Channing Capital Management LLC raised its stake in shares of Matthews International by 12.7% in the third 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 during the last quarter. Finally, State Street Corp raised its stake in shares of Matthews International by 4.3% in the second quarter. State Street Corp now owns 785,834 shares of the company’s stock worth $48,137,000 after acquiring an additional 32,125 shares during the last quarter. 78.63% of the stock is owned by institutional investors.
Shares of Matthews International Corp (NASDAQ MATW) opened at $54.15 on Friday. Matthews International Corp has a 1 year low of $52.60 and a 1 year high of $76.70. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.49 and a current ratio of 2.09. The company has a market cap of $1,707.09, a P/E ratio of 24.07 and a beta of 1.08.
Matthews International (NASDAQ:MATW) last issued its quarterly earnings results on Thursday, November 16th. The company reported $1.06 EPS for the quarter, missing the consensus estimate of $1.09 by ($0.03). Matthews International had a return on equity of 15.77% and a net margin of 4.83%. The business had revenue of $396.10 million for the quarter, compared to analyst estimates of $389.67 million. During the same quarter in the prior year, the firm earned $1.08 EPS. The firm’s quarterly revenue was up 5.1% compared to the same quarter last year. research analysts expect that Matthews International Corp will post 3.83 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, December 11th. Stockholders of record on Monday, November 27th were given a dividend of $0.19 per share. This is a boost from Matthews International’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Friday, November 24th. This represents a $0.76 annualized dividend and a dividend yield of 1.40%. Matthews International’s payout ratio is currently 33.78%.
A number of equities analysts have weighed in on the stock. BidaskClub downgraded shares of Matthews International from a “sell” rating to a “strong sell” rating in a research note on Tuesday, December 12th. B. Riley reiterated a “buy” rating and set a $92.00 price target on shares of Matthews International in a research report on Monday, November 20th. Finally, Zacks Investment Research cut shares of Matthews International from a “hold” rating to a “sell” rating in a research report on Saturday, September 23rd. One analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $83.50.
Matthews International Company Profile
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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