Matthews International Co. (NASDAQ:MATW) Stock Position Lowered by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans trimmed its position in shares of Matthews International Co. (NASDAQ:MATW) by 4.2% during the 2nd quarter, HoldingsChannel reports. The firm owned 25,494 shares of the company’s stock after selling 1,123 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Matthews International were worth $639,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. nVerses Capital LLC acquired a new stake in shares of Matthews International in the second quarter worth $110,000. SG Americas Securities LLC acquired a new stake in Matthews International during the 2nd quarter worth about $112,000. XTX Topco Ltd purchased a new position in Matthews International during the 2nd quarter valued at about $246,000. Inspire Investing LLC increased its holdings in shares of Matthews International by 12.3% in the 1st quarter. Inspire Investing LLC now owns 12,992 shares of the company’s stock valued at $404,000 after purchasing an additional 1,428 shares during the period. Finally, State Board of Administration of Florida Retirement System increased its holdings in shares of Matthews International by 67.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 14,202 shares of the company’s stock valued at $441,000 after purchasing an additional 5,710 shares during the period. 83.08% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, B. Riley decreased their price target on shares of 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 Trading Up 0.9 %

Matthews International stock opened at $21.56 on Wednesday. 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 12 month low of $21.09 and a 12 month high of $40.80. The company’s fifty day simple moving average is $24.37 and its 200-day simple moving average is $26.24. The stock has a market cap of $662.11 million, a P/E ratio of 20.34 and a beta of 1.07.

Matthews International (NASDAQ:MATW) last issued its earnings results on Thursday, August 1st. The company reported $0.56 EPS 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 firm had revenue of $427.83 million during the quarter, compared to analysts’ expectations of $450.03 million. During the same quarter last year, the firm earned $0.74 EPS. As a group, sell-side analysts forecast that Matthews International Co. will post 2.53 EPS for the current fiscal year.

Matthews International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Monday, August 5th were issued a $0.24 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $0.96 dividend on an annualized basis and a yield of 4.45%. Matthews International’s dividend payout ratio is currently 90.57%.

About Matthews International

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.