Nuveen LLC Acquires New Holdings in Matthews International Corporation $MATW

Key Points

• Nuveen LLC has acquired a new stake in Matthews International Corporation, purchasing 115,913 shares valued at approximately $2.58 million, representing about 0.37% of the company's stock.
• The company reported a negative net margin of 4.01% and missed earnings expectations, with an EPS of $0.28 against an estimated $0.33.
• Matthews International announced a quarterly dividend of $0.25, implying a dividend yield of 4.1%, and is under coverage with a consensus rating of "Buy" and a price target of $40.00.

Nuveen LLC acquired a new position in Matthews International Corporation (NASDAQ:MATW - Free Report) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 115,913 shares of the company's stock, valued at approximately $2,578,000. Nuveen LLC owned approximately 0.37% of Matthews International at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Central Pacific Bank Trust Division bought a new position in shares of Matthews International during the first quarter valued at $149,000. Gotham Asset Management LLC bought a new position in shares of Matthews International during the fourth quarter valued at $260,000. Graham Capital Management L.P. bought a new position in shares of Matthews International during the fourth quarter valued at $286,000. Nebula Research & Development LLC increased its holdings in shares of Matthews International by 25.9% during the fourth quarter. Nebula Research & Development LLC now owns 14,035 shares of the company's stock valued at $388,000 after acquiring an additional 2,888 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new position in shares of Matthews International during the fourth quarter valued at $428,000. 83.08% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded Matthews International from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $40.00.

Matthews International Stock Performance

Shares of NASDAQ:MATW traded up $0.38 during mid-day trading on Friday, reaching $24.57. 203,689 shares of the company traded hands, compared to its average volume of 205,742. The company's 50 day moving average price is $24.25 and its 200-day moving average price is $22.70. The firm has a market cap of $756.51 million, a PE ratio of 18.76 and a beta of 1.27. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.66 and a quick ratio of 0.98. Matthews International Corporation has a 52 week low of $18.50 and a 52 week high of $32.24.

Matthews International (NASDAQ:MATW - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.05). Matthews International had a positive return on equity of 9.15% and a negative net margin of 4.01%.The business had revenue of $349.40 million during the quarter, compared to the consensus estimate of $321.95 million. On average, equities analysts expect that Matthews International Corporation will post 1.73 EPS for the current fiscal year.

Matthews International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 25th. Stockholders of record on Monday, August 11th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend was Monday, August 11th. Matthews International's dividend payout ratio is -47.17%.

Matthews International 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.