Bank of New York Mellon Corp Sells 5,199 Shares of Matthews International Corporation (MATW)
Bank of New York Mellon Corp cut its holdings in shares of Matthews International Corporation (NASDAQ:MATW) by 1.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 540,838 shares of the company’s stock after selling 5,199 shares during the quarter. Bank of New York Mellon Corp owned 1.68% of Matthews International Corporation worth $33,127,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of MATW. Municipal Employees Retirement System of Michigan raised its position in Matthews International Corporation by 3.7% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 7,610 shares of the company’s stock worth $466,000 after buying an additional 270 shares during the last quarter. Janney Montgomery Scott LLC raised its position in Matthews International Corporation by 29.1% during the 2nd quarter. Janney Montgomery Scott LLC now owns 15,682 shares of the company’s stock worth $961,000 after buying an additional 3,537 shares during the last quarter. Sei Investments Co. raised its position in Matthews International Corporation by 5.3% during the 2nd quarter. Sei Investments Co. now owns 20,374 shares of the company’s stock worth $1,248,000 after buying an additional 1,020 shares during the last quarter. Texas Permanent School Fund raised its position in Matthews International Corporation by 0.7% during the 2nd quarter. Texas Permanent School Fund now owns 23,509 shares of the company’s stock worth $1,440,000 after buying an additional 158 shares during the last quarter. Finally, Great West Life Assurance Co. Can raised its position in Matthews International Corporation by 3.4% during the 2nd quarter. Great West Life Assurance Co. Can now owns 46,596 shares of the company’s stock worth $2,851,000 after buying an additional 1,520 shares during the last quarter. 78.87% of the stock is owned by institutional investors.
A number of equities analysts have issued reports on MATW shares. BidaskClub raised shares of Matthews International Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, July 6th. Macquarie raised shares of Matthews International Corporation from a “neutral” rating to an “outperform” rating and set a $75.00 target price for the company in a report on Wednesday, July 5th. Finally, FBR & Co reaffirmed an “outperform” rating on shares of Matthews International Corporation in a report on Tuesday, July 11th.
Matthews International Corporation (NASDAQ:MATW) opened at 58.10 on Friday. The stock’s 50 day moving average is $62.43 and its 200 day moving average is $64.86. The stock has a market capitalization of $1.87 billion, a price-to-earnings ratio of 24.48 and a beta of 1.13. Matthews International Corporation has a 12-month low of $57.05 and a 12-month high of $77.85.
Matthews International Corporation (NASDAQ:MATW) last posted its quarterly earnings data on Thursday, July 27th. The company reported $1.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.04 by $0.01. The business had revenue of $389.63 million during the quarter, compared to the consensus estimate of $392.03 million. Matthews International Corporation had a return on equity of 16.23% and a net margin of 5.17%. The company’s revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.97 earnings per share. Equities research analysts forecast that Matthews International Corporation will post $3.61 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Monday, July 31st were issued a $0.17 dividend. This is an increase from Matthews International Corporation’s previous quarterly dividend of $0.13. This represents a $0.68 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend was Thursday, July 27th. Matthews International Corporation’s dividend payout ratio is presently 28.45%.
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Matthews International Corporation 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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