Foundry Partners LLC raised its stake in Matthews International Corporation (NASDAQ:MATW) by 6.4% during the second quarter, Holdings Channel reports. The institutional investor owned 128,120 shares of the company’s stock after buying an additional 7,728 shares during the period. Foundry Partners LLC’s holdings in Matthews International Corporation were worth $7,847,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Clarkston Capital Partners LLC boosted its position in shares of Matthews International Corporation by 0.5% in the second quarter. Clarkston Capital Partners LLC now owns 1,077,161 shares of the company’s stock valued at $65,976,000 after buying an additional 5,245 shares in the last quarter. Channing Capital Management LLC boosted its position in shares of Matthews International Corporation by 2.3% in the second quarter. Channing Capital Management LLC now owns 785,667 shares of the company’s stock valued at $48,122,000 after buying an additional 18,004 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of Matthews International Corporation by 3.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 175,231 shares of the company’s stock valued at $10,733,000 after buying an additional 6,366 shares in the last quarter. Great West Life Assurance Co. Can boosted its position in shares of Matthews International Corporation by 3.4% in the second quarter. Great West Life Assurance Co. Can now owns 46,596 shares of the company’s stock valued at $2,851,000 after buying an additional 1,520 shares in the last quarter. Finally, Texas Permanent School Fund boosted its position in shares of Matthews International Corporation by 0.7% in the second quarter. Texas Permanent School Fund now owns 23,509 shares of the company’s stock valued at $1,440,000 after buying an additional 158 shares in the last quarter. Institutional investors and hedge funds own 79.10% of the company’s stock.

Matthews International Corporation (MATW) opened at 63.05 on Friday. Matthews International Corporation has a 52 week low of $56.72 and a 52 week high of $77.85. The stock’s 50 day moving average is $64.23 and its 200 day moving average is $65.94. The stock has a market cap of $2.03 billion, a PE ratio of 26.57 and a beta of 1.11.

Matthews International Corporation (NASDAQ:MATW) last released its quarterly earnings data on Thursday, July 27th. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $1.04 by $0.01. The business had revenue of $389.63 million for the quarter, compared to the consensus estimate of $392.03 million. Matthews International Corporation had a net margin of 5.17% and a return on equity of 16.23%. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.97 EPS. Analysts predict that Matthews International Corporation will post $3.61 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 14th. Stockholders of record on Monday, July 31st will be issued a $0.17 dividend. This is an increase from Matthews International Corporation’s previous quarterly dividend of $0.13. This represents a $0.68 annualized dividend and a dividend yield of 1.08%. The ex-dividend date is Thursday, July 27th. Matthews International Corporation’s dividend payout ratio is 28.45%.

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Several research analysts have recently weighed in on MATW shares. Macquarie upgraded shares of Matthews International Corporation from a “neutral” rating to an “outperform” rating and set a $75.00 price target on the stock in a research note on Wednesday, July 5th. BidaskClub cut shares of Matthews International Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. Finally, FBR & Co reiterated an “outperform” rating on shares of Matthews International Corporation in a research note on Tuesday, July 11th.

About Matthews International Corporation

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

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