Matthews International Corp (NASDAQ:MATW) – Investment analysts at B. Riley decreased their Q2 2018 earnings per share estimates for shares of Matthews International in a research note issued to investors on Monday. B. Riley analyst L. Burke now anticipates that the company will earn $0.89 per share for the quarter, down from their previous estimate of $0.98. B. Riley has a “Buy” rating and a $92.00 price target on the stock. B. Riley also issued estimates for Matthews International’s Q3 2018 earnings at $1.10 EPS.
Other equities research analysts have also issued research reports about the stock. ValuEngine lowered shares of Matthews International from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. BidaskClub raised shares of Matthews International from a “strong sell” rating to a “sell” rating in a research note on Friday, January 26th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $83.50.
Matthews International (NASDAQ:MATW) last released its quarterly earnings data on Thursday, January 25th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.06. Matthews International had a net margin of 6.46% and a return on equity of 15.09%. The business had revenue of $369.50 million during the quarter, compared to analyst estimates of $355.84 million. During the same quarter in the previous year, the business earned $0.62 EPS. Matthews International’s quarterly revenue was up 5.9% compared to the same quarter last year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 19th. Investors of record on Monday, February 5th will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 1.44%. The ex-dividend date is Friday, February 2nd. Matthews International’s payout ratio is presently 24.76%.
In other news, VP Robert M. Marsh bought 3,000 shares of the business’s stock in a transaction on Tuesday, January 30th. The stock was purchased at an average price of $55.50 per share, with a total value of $166,500.00. Following the transaction, the vice president now directly owns 16,207 shares in the company, valued at $899,488.50. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Tunon Alvaro Garcia bought 1,000 shares of the business’s stock in a transaction on Monday, February 5th. The shares were purchased at an average cost of $52.00 per share, with a total value of $52,000.00. The disclosure for this purchase can be found here. 3.80% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Suntrust Banks Inc. lifted its position in Matthews International by 12.2% during the 4th quarter. Suntrust Banks Inc. now owns 8,755 shares of the company’s stock worth $462,000 after acquiring an additional 955 shares during the last quarter. UBS Asset Management Americas Inc. lifted its position in Matthews International by 5.0% during the 4th quarter. UBS Asset Management Americas Inc. now owns 20,744 shares of the company’s stock worth $1,095,000 after acquiring an additional 997 shares during the last quarter. Prudential Financial Inc. lifted its position in Matthews International by 2.2% during the 3rd quarter. Prudential Financial Inc. now owns 55,668 shares of the company’s stock worth $3,465,000 after acquiring an additional 1,190 shares during the last quarter. Swiss National Bank lifted its position in Matthews International by 2.3% during the 4th quarter. Swiss National Bank now owns 54,296 shares of the company’s stock worth $2,867,000 after acquiring an additional 1,200 shares during the last quarter. Finally, American International Group Inc. lifted its position in Matthews International by 5.7% during the 3rd quarter. American International Group Inc. now owns 24,891 shares of the company’s stock worth $1,549,000 after acquiring an additional 1,339 shares during the last quarter. 77.61% of the stock is owned by hedge funds and other institutional investors.
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About Matthews International
Matthews International Corporation is a provider of brand solutions, memorialization products and industrial technologies. The Company operates through three segments: SGK Brand Solutions, Memorialization and Industrial Technologies. The SGK Brand Solutions segment provides brand development, deployment and delivery (consisting of brand management, printing plates and cylinders, pre-media services and imaging services for consumer packaged goods and retail customers, merchandising display systems, and marketing and design services).
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