Nuveen Asset Management LLC purchased a new position in shares of Matthews International Corp (NASDAQ:MATW) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 129,493 shares of the company’s stock, valued at approximately $4,513,000.
Several other institutional investors have also bought and sold shares of MATW. Northern Trust Corp increased its holdings in Matthews International by 2.2% in the 2nd quarter. Northern Trust Corp now owns 416,689 shares of the company’s stock worth $14,521,000 after purchasing an additional 8,823 shares in the last quarter. Gamco Investors INC. ET AL increased its holdings in Matthews International by 29.5% in the 2nd quarter. Gamco Investors INC. ET AL now owns 377,573 shares of the company’s stock worth $13,158,000 after purchasing an additional 86,075 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Matthews International by 4.0% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 287,004 shares of the company’s stock worth $10,003,000 after purchasing an additional 11,099 shares in the last quarter. Foundry Partners LLC increased its holdings in Matthews International by 11.0% in the 2nd quarter. Foundry Partners LLC now owns 233,448 shares of the company’s stock worth $8,136,000 after purchasing an additional 23,054 shares in the last quarter. Finally, Morgan Stanley increased its holdings in Matthews International by 112.8% in the 2nd quarter. Morgan Stanley now owns 160,987 shares of the company’s stock worth $5,610,000 after purchasing an additional 85,328 shares in the last quarter. 81.51% of the stock is owned by institutional investors.
A number of brokerages have issued reports on MATW. BidaskClub raised Matthews International from a “hold” rating to a “buy” rating in a report on Thursday. B. Riley lowered their target price on Matthews International from $70.00 to $65.00 and set a “buy” rating for the company in a report on Friday. Zacks Investment Research cut Matthews International from a “buy” rating to a “hold” rating in a report on Thursday, October 3rd. Finally, ValuEngine raised Matthews International from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $50.00.
Matthews International (NASDAQ:MATW) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.90 EPS for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.04). Matthews International had a net margin of 4.04% and a return on equity of 13.20%. The company had revenue of $379.30 million during the quarter, compared to the consensus estimate of $388.38 million. During the same quarter last year, the firm posted $1.16 EPS. The company’s quarterly revenue was down 7.8% on a year-over-year basis. On average, equities research analysts expect that Matthews International Corp will post 3.6 EPS for the current year.
Matthews International Company Profile
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.
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