Voya Investment Management LLC Acquires 213,201 Shares of Matthews International Corporation (MATW)
Voya Investment Management LLC lifted its holdings in Matthews International Corporation (NASDAQ:MATW) by 117.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 395,018 shares of the company’s stock after acquiring an additional 213,201 shares during the period. Voya Investment Management LLC owned approximately 1.23% of Matthews International Corporation worth $24,195,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in MATW. Quantbot Technologies LP raised its holdings in shares of Matthews International Corporation by 1,289.0% during the 2nd quarter. Quantbot Technologies LP now owns 2,139 shares of the company’s stock valued at $131,000 after buying an additional 1,985 shares during the period. Riverhead Capital Management LLC lifted its position in Matthews International Corporation by 60.6% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,731 shares of the company’s stock worth $167,000 after acquiring an additional 1,031 shares in the last quarter. Victory Capital Management Inc. lifted its position in Matthews International Corporation by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 3,474 shares of the company’s stock worth $213,000 after acquiring an additional 520 shares in the last quarter. Pinebridge Investments L.P. lifted its position in Matthews International Corporation by 0.8% during the 2nd quarter. Pinebridge Investments L.P. now owns 4,242 shares of the company’s stock worth $259,000 after acquiring an additional 35 shares in the last quarter. Finally, Amalgamated Bank lifted its position in Matthews International Corporation by 2.5% during the 2nd quarter. Amalgamated Bank now owns 4,334 shares of the company’s stock worth $265,000 after acquiring an additional 107 shares in the last quarter. 78.57% of the stock is owned by institutional investors.
Shares of Matthews International Corporation (MATW) opened at 62.25 on Monday. The firm has a market capitalization of $2.00 billion, a P/E ratio of 26.23 and a beta of 1.14. Matthews International Corporation has a 52 week low of $57.40 and a 52 week high of $77.85. The stock’s 50 day moving average price is $61.26 and its 200 day moving average price is $64.42.
Matthews International Corporation (NASDAQ:MATW) last released its quarterly earnings results on Thursday, July 27th. The company reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.01. The company 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 firm’s revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.97 EPS. On average, analysts predict that Matthews International Corporation will post $3.61 EPS for the current fiscal year.
MATW has been the subject of a number of analyst reports. Macquarie upgraded Matthews International Corporation from a “neutral” rating to an “outperform” rating and set a $75.00 price target for the company in a report on Wednesday, July 5th. BidaskClub lowered shares of Matthews International Corporation from a “sell” rating to a “strong sell” rating in a research note on Friday, August 18th. Zacks Investment Research lowered shares of Matthews International Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, September 23rd. Finally, FBR & Co reissued an “outperform” rating on shares of Matthews International Corporation in a research report on Tuesday, July 11th. Two research analysts have rated the stock with a sell rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $83.50.
Matthews International Corporation 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).
Want to see what other hedge funds are holding MATW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Matthews International Corporation (NASDAQ:MATW).
Receive News & Stock Ratings for Matthews International Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Matthews International Corporation and related stocks with our FREE daily email newsletter.