Arizona State Retirement System Has $2.01 Million Holdings in Matthews International Corp (MATW)

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Arizona State Retirement System boosted its stake in Matthews International Corp (NASDAQ:MATW) by 6.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 49,392 shares of the company’s stock after acquiring an additional 2,831 shares during the quarter. Arizona State Retirement System’s holdings in Matthews International were worth $2,006,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Quantamental Technologies LLC purchased a new position in Matthews International in the 4th quarter worth approximately $85,000. Dynamic Technology Lab Private Ltd purchased a new position in Matthews International in the 3rd quarter worth approximately $322,000. Quantbot Technologies LP boosted its holdings in Matthews International by 834.7% in the 3rd quarter. Quantbot Technologies LP now owns 8,300 shares of the company’s stock worth $416,000 after acquiring an additional 7,412 shares during the period. B. Riley Financial Inc. boosted its holdings in Matthews International by 29.8% in the 3rd quarter. B. Riley Financial Inc. now owns 9,219 shares of the company’s stock worth $462,000 after acquiring an additional 2,116 shares during the period. Finally, Engineers Gate Manager LP purchased a new position in Matthews International in the 3rd quarter worth approximately $523,000. Hedge funds and other institutional investors own 84.74% of the company’s stock.

Matthews International stock opened at $41.68 on Thursday. The company has a market cap of $1.31 billion, a PE ratio of 10.53 and a beta of 1.10. The company has a debt-to-equity ratio of 1.11, a current ratio of 2.04 and a quick ratio of 1.42. Matthews International Corp has a 52 week low of $37.06 and a 52 week high of $61.25.

Matthews International (NASDAQ:MATW) last released its earnings results on Thursday, January 31st. The company reported $0.50 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.50. The company had revenue of $374.18 million during the quarter, compared to analysts’ expectations of $358.55 million. Matthews International had a return on equity of 14.35% and a net margin of 4.68%. As a group, analysts forecast that Matthews International Corp will post 4.17 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 18th. Stockholders of record on Monday, February 4th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.92%. The ex-dividend date of this dividend is Friday, February 1st. Matthews International’s dividend payout ratio (DPR) is currently 20.20%.

MATW has been the subject of a number of analyst reports. B. Riley decreased their price target on Matthews International from $92.00 to $80.00 and set a “buy” rating for the company in a report on Monday, November 19th. BidaskClub upgraded Matthews International from a “hold” rating to a “buy” rating in a report on Saturday, January 12th. Zacks Investment Research upgraded Matthews International from a “sell” rating to a “hold” rating in a research note on Tuesday, January 15th. Finally, Wellington Shields cut Matthews International from a “buy” rating to a “hold” rating in a research note on Friday, February 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $66.00.

In other Matthews International news, insider David A. Schawk bought 1,000 shares of Matthews International stock in a transaction dated Tuesday, November 20th. The stock was bought at an average cost of $40.93 per share, for a total transaction of $40,930.00. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 3.70% of the company’s stock.

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About Matthews International

Matthews International Corporation provides brand solutions, memorialization products, and industrial products worldwide. The company's SGK Brand Solutions segment provides brand development and graphic design services, such as visual intellectual properties, packaging, and content creation; brand deployment and activation services, including design and production of merchandising exhibits and shopper experiences in digital and printed media channels; and consulting services to brand owners on workflow best practices, management and technologies, printing quality, measurement, and consistency.

Further Reading: Blue-Chip Stocks

Want to see what other hedge funds are holding MATW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Matthews International Corp (NASDAQ:MATW).

Institutional Ownership by Quarter for Matthews International (NASDAQ:MATW)

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