Louisiana State Employees Retirement System Sells 700 Shares of Matthews International Co. (NASDAQ:MATW)

Louisiana State Employees Retirement System lessened its position in Matthews International Co. (NASDAQ:MATW) by 4.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,800 shares of the company’s stock after selling 700 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Matthews International were worth $343,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of MATW. BNP Paribas Financial Markets raised its holdings in Matthews International by 18.7% in the 1st quarter. BNP Paribas Financial Markets now owns 14,873 shares of the company’s stock worth $462,000 after acquiring an additional 2,344 shares during the period. Texas Permanent School Fund Corp raised its holdings in Matthews International by 2.0% in the 1st quarter. Texas Permanent School Fund Corp now owns 26,853 shares of the company’s stock worth $835,000 after acquiring an additional 533 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 purchasing an additional 1,428 shares during the period. ProShare Advisors LLC increased its holdings in shares of Matthews International by 20.2% during the 1st quarter. ProShare Advisors LLC now owns 266,146 shares of the company’s stock worth $8,272,000 after purchasing an additional 44,798 shares during the period. Finally, State Board of Administration of Florida Retirement System increased its holdings in shares of Matthews International by 67.2% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 14,202 shares of the company’s stock worth $441,000 after purchasing an additional 5,710 shares during the period. Institutional investors own 83.08% of the company’s stock.

Matthews International Stock Performance

NASDAQ:MATW opened at $25.00 on Thursday. The firm’s 50-day moving average is $23.11 and its 200-day moving average is $25.45. Matthews International Co. has a 52-week low of $21.09 and a 52-week high of $39.12. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.02 and a current ratio of 1.66. The company has a market cap of $765 million, a price-to-earnings ratio of 29.76 and a beta of 1.06.

Analysts Set New Price Targets

Separately, B. Riley dropped their price objective on shares of Matthews International from $54.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, September 26th.

Matthews International 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.