Matthews International Co. (NASDAQ:MATW) Stock Holdings Trimmed by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lessened its holdings in shares of Matthews International Co. (NASDAQ:MATW) by 4.2% in the second quarter, according to its most recent filing with the SEC. The firm owned 25,494 shares of the company’s stock after selling 1,123 shares during the quarter. Thrivent Financial for Lutherans owned about 0.08% of Matthews International worth $639,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of MATW. Allspring Global Investments Holdings LLC lifted its position in Matthews International by 25.0% in 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. Vanguard Group Inc. raised its stake in shares of Matthews International by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 3,619,317 shares of the company’s stock worth $112,488,000 after buying an additional 76,752 shares in the last quarter. ProShare Advisors LLC lifted its holdings 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 valued at $8,272,000 after buying an additional 44,798 shares during the period. Renaissance Technologies LLC bought a new position in Matthews International during the second quarter valued at about $725,000. Finally, Bank of New York Mellon Corp grew its holdings in Matthews International by 4.3% during the second quarter. Bank of New York Mellon Corp now owns 360,165 shares of the company’s stock worth $9,022,000 after acquiring an additional 14,737 shares during the period. Institutional investors own 83.08% of the company’s stock.

Matthews International Trading Up 0.9 %

Shares of NASDAQ:MATW opened at $21.56 on Wednesday. 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 market capitalization of $662.11 million, a price-to-earnings ratio of 20.34 and a beta of 1.07. Matthews International Co. has a 1-year low of $21.09 and a 1-year high of $40.80. The company has a 50 day moving average price of $24.37 and a 200 day moving average price of $26.24.

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

Matthews International Announces Dividend

The business 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 dividend on an annualized basis and a yield of 4.45%. Matthews International’s dividend payout ratio is currently 90.57%.

Analyst Ratings Changes

Separately, B. Riley cut 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 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.