Sei Investments Co. Sells 19,832 Shares of Matthews International Co. (NASDAQ:MATW)

Sei Investments Co. lessened its holdings in shares of Matthews International Co. (NASDAQ:MATW) by 8.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 215,817 shares of the company’s stock after selling 19,832 shares during the quarter. Sei Investments Co. owned 0.70% of Matthews International worth $5,406,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC raised its position in shares of Matthews International by 25.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 587,477 shares of the company’s stock worth $18,259,000 after purchasing an additional 117,461 shares during the period. ProShare Advisors LLC increased its position in shares of Matthews International by 20.2% during the first quarter. ProShare Advisors LLC now owns 266,146 shares of the company’s stock worth $8,272,000 after acquiring an additional 44,798 shares in the last quarter. Norges Bank bought a new stake in shares of Matthews International during the fourth quarter worth $7,200,000. Price T Rowe Associates Inc. MD raised its holdings in shares of Matthews International by 1.6% during the first 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. Finally, Comerica Bank lifted its position in Matthews International by 73.9% in the 1st quarter. Comerica Bank now owns 24,246 shares of the company’s stock valued at $754,000 after acquiring an additional 10,304 shares in the last quarter. 83.08% of the stock is currently owned by institutional investors.

Matthews International Trading Up 1.0 %

NASDAQ:MATW opened at $23.20 on Tuesday. The company has a quick ratio of 1.02, a current ratio of 1.66 and a debt-to-equity ratio of 1.64. Matthews International Co. has a twelve month low of $22.47 and a twelve month high of $40.80. The company has a market cap of $712.47 million, a P/E ratio of 21.89 and a beta of 1.08. The business has a 50 day moving average price of $25.12 and a two-hundred day moving average price of $26.54.

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

Matthews International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Monday, August 5th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, August 5th. This represents a $0.96 annualized dividend and a yield of 4.14%. Matthews International’s payout ratio is presently 90.57%.

Wall Street Analysts Forecast Growth

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

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.