Texas Permanent School Fund Corp Sells 3,889 Shares of Matthews International Co. (NASDAQ:MATW)

Texas Permanent School Fund Corp trimmed its stake in Matthews International Co. (NASDAQ:MATW) by 14.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,964 shares of the company’s stock after selling 3,889 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Matthews International were worth $575,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. SummerHaven Investment Management LLC lifted its stake in Matthews International by 3.5% in the 2nd quarter. SummerHaven Investment Management LLC now owns 16,118 shares of the company’s stock valued at $404,000 after purchasing an additional 538 shares during the last quarter. Victory Capital Management Inc. lifted its position in shares of Matthews International by 15.7% in the fourth quarter. Victory Capital Management Inc. now owns 6,027 shares of the company’s stock valued at $221,000 after buying an additional 816 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Matthews International by 1.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 68,771 shares of the company’s stock worth $2,138,000 after acquiring an additional 1,063 shares during the period. Inspire Investing LLC increased its holdings in shares of Matthews International by 12.3% during the 1st quarter. Inspire Investing LLC now owns 12,992 shares of the company’s stock worth $404,000 after acquiring an additional 1,428 shares during the last quarter. Finally, Gabelli Funds LLC increased its holdings in shares of Matthews International by 1.4% during the 4th quarter. Gabelli Funds LLC now owns 142,246 shares of the company’s stock worth $5,213,000 after acquiring an additional 1,896 shares during the last quarter. Institutional investors and hedge funds own 83.08% of the company’s stock.

Matthews International Trading Down 3.7 %

Shares of Matthews International stock opened at $23.36 on Friday. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.66 and a quick ratio of 1.02. The business has a fifty day simple moving average of $25.60 and a two-hundred day simple moving average of $26.83. Matthews International Co. has a 1 year low of $22.47 and a 1 year high of $41.14. The company has a market capitalization of $717.39 million, a price-to-earnings ratio of 22.04 and a beta of 1.08.

Matthews International (NASDAQ:MATW) last posted its earnings results on Thursday, August 1st. The company reported $0.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.02). The company had revenue of $427.83 million for the quarter, compared to analyst estimates of $450.03 million. Matthews International had a return on equity of 15.79% and a net margin of 1.43%. During the same quarter in the prior year, the business posted $0.74 EPS. Research analysts forecast that Matthews International Co. will post 2.53 EPS for the current year.

Matthews International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Monday, August 5th were paid a dividend of $0.24 per share. The ex-dividend date was Monday, August 5th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.11%. Matthews International’s dividend payout ratio (DPR) is currently 90.57%.

Matthews International Company Profile

Matthews International Corporation provides brand solutions, memorialization products, and industrial technologies worldwide. It operates through three segments: Memorialization, Industrial Technologies, and SGK Brand Solutions. The Memorialization segment provides bronze and granite memorials, upright granite memorials and monuments, concrete burial vaults, cremation memorialization products, granite benches, flower vases, crypt plates and letters, cremation urns, niche units, cemetery features, and statues, as well as bronze plaques, letters, emblems, vases, lights and photo ceramics, granite monuments, mausoleums, crypts, and flush memorials.