State of Alaska Department of Revenue Sells 570 Shares of Matthews International Co. (NASDAQ:MATW)

State of Alaska Department of Revenue lessened its holdings in shares of Matthews International Co. (NASDAQ:MATW) by 3.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,461 shares of the company’s stock after selling 570 shares during the quarter. State of Alaska Department of Revenue owned about 0.06% of Matthews International worth $405,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. BNP Paribas Financial Markets raised its position in shares of Matthews International by 18.7% in the first quarter. BNP Paribas Financial Markets now owns 14,873 shares of the company’s stock worth $462,000 after buying an additional 2,344 shares in the last quarter. Texas Permanent School Fund Corp boosted its position in shares of Matthews International by 2.0% during the 1st quarter. Texas Permanent School Fund Corp now owns 26,853 shares of the company’s stock valued at $835,000 after acquiring an additional 533 shares during the last quarter. Inspire Investing LLC grew its holdings in shares of Matthews International by 12.3% during the first quarter. Inspire Investing LLC now owns 12,992 shares of the company’s stock worth $404,000 after purchasing an additional 1,428 shares in the last quarter. ProShare Advisors LLC increased its position in shares of Matthews International by 20.2% in the first quarter. ProShare Advisors LLC now owns 266,146 shares of the company’s stock worth $8,272,000 after purchasing an additional 44,798 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System raised its stake in Matthews International by 67.2% in the first 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 in the last quarter. Hedge funds and other institutional investors own 83.08% of the company’s stock.

Matthews International Stock Performance

Shares of MATW stock opened at $24.54 on Friday. The company has a market capitalization of $750.92 million, a P/E ratio of 29.21 and a beta of 1.06. Matthews International Co. has a fifty-two week low of $21.09 and a fifty-two week high of $39.12. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.02 and a current ratio of 1.66. The stock has a 50 day moving average price of $23.07 and a two-hundred day moving average price of $25.43.

Wall Street Analyst Weigh In

Separately, B. Riley decreased 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 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.