Matthews International Co. (NASDAQ:MATW) Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC boosted its holdings in shares of Matthews International Co. (NASDAQ:MATW) by 8.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 708,352 shares of the company’s stock after acquiring an additional 55,687 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Matthews International were worth $16,434,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Point72 DIFC Ltd acquired a new stake in Matthews International during the second quarter worth $49,000. nVerses Capital LLC acquired a new stake in shares of Matthews International in the second quarter valued at $110,000. SG Americas Securities LLC acquired a new stake in shares of Matthews International in the second quarter valued at $112,000. XTX Topco Ltd acquired a new stake in shares of Matthews International in the second quarter valued at $246,000. Finally, Inspire Investing LLC grew its stake in shares of Matthews International by 20.0% in the second quarter. Inspire Investing LLC now owns 15,590 shares of the company’s stock valued at $391,000 after buying an additional 2,598 shares in the last quarter. Institutional investors and hedge funds own 83.08% of the company’s stock.

Wall Street Analyst Weigh In

Separately, B. Riley dropped their price objective on Matthews International from $54.00 to $40.00 and set a “buy” rating for the company in a research note on Thursday, September 26th.

Matthews International Trading Up 0.9 %

NASDAQ:MATW opened at $22.41 on Friday. The firm has a market cap of $688.21 million, a PE ratio of 21.14 and a beta of 1.07. The stock has a fifty day moving average price of $23.46 and a 200 day moving average price of $25.68. Matthews International Co. has a 12-month low of $21.09 and a 12-month high of $39.12. The company has a current ratio of 1.66, a quick ratio of 1.02 and a debt-to-equity ratio of 1.64.

Matthews International (NASDAQ:MATW) last announced its quarterly 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 business had revenue of $427.83 million for the quarter, compared to analysts’ expectations of $450.03 million. Matthews International had a return on equity of 15.79% and a net margin of 1.43%. During the same period last year, the firm earned $0.74 earnings per share. Sell-side analysts anticipate that Matthews International Co. will post 2.03 earnings per share for the current fiscal year.

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.