Matthews International Co. (NASDAQ:MATW) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans decreased its holdings in Matthews International Co. (NASDAQ:MATW) by 5.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 24,028 shares of the company’s stock after selling 1,466 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Matthews International were worth $557,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. KBC Group NV raised its holdings in Matthews International by 63.7% in the 3rd quarter. KBC Group NV now owns 1,937 shares of the company’s stock worth $45,000 after purchasing an additional 754 shares during the period. Point72 DIFC Ltd acquired a new position in Matthews International in the 2nd quarter worth about $49,000. nVerses Capital LLC acquired a new position in Matthews International in the 2nd quarter worth about $110,000. SG Americas Securities LLC acquired a new position in Matthews International in the 2nd quarter worth about $112,000. Finally, GSA Capital Partners LLP acquired a new position in Matthews International in the 3rd quarter worth about $222,000. Institutional investors and hedge funds own 83.08% of the company’s stock.

Wall Street Analyst Weigh In

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

Matthews International Price Performance

Shares of Matthews International stock opened at $31.18 on Thursday. The business has a 50 day simple moving average of $24.36 and a two-hundred day simple moving average of $25.31. Matthews International Co. has a 12 month low of $21.09 and a 12 month high of $39.12. The stock has a market capitalization of $954.11 million, a P/E ratio of -16.16 and a beta of 1.13. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.45 and a quick ratio of 0.91.

Matthews International Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.21%. This is a boost from Matthews International’s previous quarterly dividend of $0.24. Matthews International’s dividend payout ratio is presently -51.81%.

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.