Public Sector Pension Investment Board Has $1.69 Million Stock Holdings in Matthews International Co. (NASDAQ:MATW)

Public Sector Pension Investment Board lifted its position in shares of Matthews International Co. (NASDAQ:MATW) by 6.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 67,590 shares of the company’s stock after purchasing an additional 4,365 shares during the period. Public Sector Pension Investment Board’s holdings in Matthews International were worth $1,693,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Matthews International by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 3,619,317 shares of the company’s stock worth $112,488,000 after purchasing an additional 76,752 shares during the last quarter. Gamco Investors INC. ET AL increased its stake in shares of Matthews International by 1.1% during the 1st quarter. Gamco Investors INC. ET AL now owns 1,072,951 shares of the company’s stock worth $33,347,000 after purchasing an additional 11,650 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Matthews International by 11.1% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 652,665 shares of the company’s stock worth $16,349,000 after buying an additional 65,188 shares during the period. Bank of New York Mellon Corp grew its stake in Matthews International by 4.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 360,165 shares of the company’s stock valued at $9,022,000 after buying an additional 14,737 shares during the last quarter. Finally, ProShare Advisors LLC raised its holdings in Matthews International by 20.2% in the 1st quarter. ProShare Advisors LLC now owns 266,146 shares of the company’s stock valued at $8,272,000 after acquiring an additional 44,798 shares during the period. 83.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, B. Riley lowered their price target 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 Stock Performance

MATW opened at $23.20 on Tuesday. The business has a fifty day simple moving average of $25.12 and a 200 day simple moving average of $26.54. The company has a market capitalization of $712.47 million, a PE ratio of 21.89 and a beta of 1.08. Matthews International Co. has a 1 year low of $22.47 and a 1 year high of $40.80. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.66 and a quick ratio of 1.02.

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

Matthews International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Monday, August 5th were paid a $0.24 dividend. 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 dividend payout ratio (DPR) is presently 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.