Comerica Bank Has $195,000 Stock Position in Matthews International Corporation $MATW

Comerica Bank decreased its position in Matthews International Corporation (NASDAQ:MATW) by 78.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,460 shares of the company’s stock after selling 27,244 shares during the period. Comerica Bank’s holdings in Matthews International were worth $195,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in MATW. US Bancorp DE raised its holdings in Matthews International by 45.9% in the 3rd quarter. US Bancorp DE now owns 2,063 shares of the company’s stock valued at $50,000 after acquiring an additional 649 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in Matthews International in the 3rd quarter valued at approximately $59,000. Tower Research Capital LLC TRC raised its holdings in Matthews International by 187.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,885 shares of the company’s stock valued at $69,000 after acquiring an additional 1,880 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in Matthews International by 51.6% in the 2nd quarter. BNP Paribas Financial Markets now owns 3,080 shares of the company’s stock valued at $74,000 after acquiring an additional 1,048 shares in the last quarter. Finally, State of Wyoming acquired a new position in Matthews International in the 3rd quarter valued at approximately $84,000. Institutional investors and hedge funds own 83.08% of the company’s stock.

Analysts Set New Price Targets

MATW has been the subject of several recent research reports. Zacks Research raised Matthews International from a “strong sell” rating to a “hold” rating in a report on Monday, April 6th. Weiss Ratings cut Matthews International from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, May 6th. Finally, Wall Street Zen cut Matthews International from a “buy” rating to a “hold” rating in a report on Sunday, May 10th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Reduce”.

Matthews International Trading Down 3.0%

MATW stock opened at $26.51 on Friday. Matthews International Corporation has a 1-year low of $19.87 and a 1-year high of $30.93. The firm has a market cap of $827.11 million, a P/E ratio of 85.52 and a beta of 1.12. The business’s 50 day moving average is $26.45 and its 200-day moving average is $26.05. The company has a current ratio of 1.64, a quick ratio of 0.97 and a debt-to-equity ratio of 1.12.

Matthews International (NASDAQ:MATW) last released its quarterly earnings data on Thursday, April 30th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.20. Matthews International had a return on equity of 5.88% and a net margin of 0.80%.The company had revenue of $258.62 million for the quarter, compared to analyst estimates of $253.65 million. Equities analysts anticipate that Matthews International Corporation will post 1.09 earnings per share for the current fiscal year.

Matthews International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 25th. Stockholders of record on Monday, May 11th will be paid a $0.255 dividend. This represents a $1.02 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Monday, May 11th. Matthews International’s dividend payout ratio is currently 329.03%.

Matthews International Company Profile

Matthews International Corporation (NASDAQ:MATW) is a diversified industrial company headquartered in Pittsburgh, Pennsylvania. The company operates through two primary business segments—Brand Solutions and Memorialization—offering a broad range of products and services designed to meet the needs of industrial manufacturers, brand marketers and the funeral industry worldwide.

In its Brand Solutions segment, Matthews International provides engraving and digital printing systems, automated finishing equipment, thermal management products and electronics assembly solutions.