Texas Permanent School Fund Corp Sells 3,889 Shares of Matthews International Co. (NASDAQ:MATW)

Texas Permanent School Fund Corp reduced its stake in Matthews International Co. (NASDAQ:MATW) by 14.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 22,964 shares of the company’s stock after selling 3,889 shares during the quarter. Texas Permanent School Fund Corp owned approximately 0.07% of Matthews International worth $575,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Victory Capital Management Inc. boosted its holdings in Matthews International by 15.7% in the 4th quarter. Victory Capital Management Inc. now owns 6,027 shares of the company’s stock valued at $221,000 after purchasing an additional 816 shares during the period. Dimensional Fund Advisors LP grew its position in Matthews International by 1.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,428,242 shares of the company’s stock worth $52,347,000 after buying an additional 13,594 shares in the last quarter. Norges Bank bought a new position in Matthews International during the fourth quarter valued at about $7,200,000. Dynamic Technology Lab Private Ltd acquired a new position in Matthews International in the 4th quarter valued at approximately $469,000. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Matthews International by 267.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 19,269 shares of the company’s stock worth $706,000 after purchasing an additional 14,030 shares in the last quarter. 83.08% of the stock is owned by institutional investors.

Matthews International Price Performance

Shares of Matthews International stock opened at $23.36 on Friday. The firm has a market cap of $717.39 million, a P/E ratio of 22.04 and a beta of 1.08. The firm’s 50-day simple moving average is $25.60 and its 200-day simple moving average is $26.83. Matthews International Co. has a twelve month low of $22.47 and a twelve month high of $41.14. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.02 and a current ratio of 1.66.

Matthews International (NASDAQ:MATW) last announced its quarterly 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 company had revenue of $427.83 million during the quarter, compared to the consensus estimate of $450.03 million. During the same quarter last year, the company earned $0.74 earnings per share. As a group, research analysts expect that Matthews International Co. will post 2.53 EPS for the current fiscal year.

Matthews International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Monday, August 5th were given a dividend of $0.24 per share. The ex-dividend date was Monday, August 5th. This represents a $0.96 dividend on an annualized basis and a yield of 4.11%. Matthews International’s dividend payout ratio (DPR) is presently 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.