Rhumbline Advisers lifted its stake in Matthews International Corp (NASDAQ:MATW) by 2.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 67,796 shares of the company’s stock after purchasing an additional 1,394 shares during the quarter. Rhumbline Advisers owned about 0.21% of Matthews International worth $4,220,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the company. Pinebridge Investments L.P. boosted its holdings in shares of Matthews International by 0.8% in the 2nd quarter. Pinebridge Investments L.P. now owns 4,242 shares of the company’s stock worth $259,000 after purchasing an additional 35 shares during the period. Amalgamated Bank boosted its holdings in shares of Matthews International by 2.5% in the 2nd quarter. Amalgamated Bank now owns 4,334 shares of the company’s stock worth $265,000 after purchasing an additional 107 shares during the period. Texas Permanent School Fund boosted its holdings in shares of Matthews International by 0.7% in the 2nd quarter. Texas Permanent School Fund now owns 23,509 shares of the company’s stock worth $1,440,000 after purchasing an additional 158 shares during the period. Municipal Employees Retirement System of Michigan boosted its holdings in shares of Matthews International by 3.7% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 7,610 shares of the company’s stock worth $466,000 after purchasing an additional 270 shares during the period. Finally, Raymond James Trust N.A. boosted its holdings in shares of Matthews International by 7.8% in the 2nd quarter. Raymond James Trust N.A. now owns 5,413 shares of the company’s stock worth $332,000 after purchasing an additional 393 shares during the period. Hedge funds and other institutional investors own 78.65% of the company’s stock.

Matthews International Corp (NASDAQ MATW) opened at $56.25 on Wednesday. The company has a market capitalization of $1,837.29, a P/E ratio of 16.01 and a beta of 1.08. The company has a quick ratio of 1.49, a current ratio of 2.09 and a debt-to-equity ratio of 1.12. Matthews International Corp has a 1-year low of $52.85 and a 1-year high of $77.85.

Matthews International (NASDAQ:MATW) last announced its earnings results on Thursday, November 16th. The company reported $1.06 EPS for the quarter, missing the Zacks’ 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 company had revenue of $396.10 million during the quarter, compared to analysts’ expectations of $389.67 million. During the same quarter last year, the firm posted $1.08 EPS. Matthews International’s revenue for the quarter was up 5.1% compared to the same quarter last year. research analysts forecast that Matthews International Corp will post 3.83 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Monday, November 27th will be issued a dividend of $0.19 per share. The ex-dividend date of this dividend is Friday, November 24th. This represents a $0.76 dividend on an annualized basis and a yield of 1.35%. This is a boost from Matthews International’s previous quarterly dividend of $0.17. Matthews International’s payout ratio is presently 33.78%.

A number of equities analysts have recently commented on the company. B. Riley reiterated a “buy” rating and issued a $92.00 target price on shares of Matthews International in a report on Monday, November 20th. Zacks Investment Research cut Matthews International from a “hold” rating to a “sell” rating in a report on Saturday, September 23rd. Finally, BidaskClub cut Matthews International from a “sell” rating to a “strong sell” rating in a report on Friday, August 18th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $83.50.

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Matthews International 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).

Institutional Ownership by Quarter for Matthews International (NASDAQ:MATW)

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