Raymond James & Associates grew its stake in Matthews International Corp (NASDAQ:MATW) by 21.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 307,120 shares of the company’s stock after acquiring an additional 53,976 shares during the quarter. Raymond James & Associates owned about 0.96% of Matthews International worth $18,059,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in MATW. Wells Fargo & Company MN increased its holdings in shares of Matthews International by 4.8% in the 1st quarter. Wells Fargo & Company MN now owns 103,472 shares of the company’s stock valued at $5,236,000 after acquiring an additional 4,707 shares during the period. SG Americas Securities LLC increased its holdings in shares of Matthews International by 47.4% in the 1st quarter. SG Americas Securities LLC now owns 6,400 shares of the company’s stock valued at $324,000 after acquiring an additional 2,058 shares during the period. Boston Partners purchased a new position in shares of Matthews International in the 1st quarter valued at $3,434,000. Victory Capital Management Inc. increased its holdings in shares of Matthews International by 48.1% in the 1st quarter. Victory Capital Management Inc. now owns 6,553 shares of the company’s stock valued at $332,000 after acquiring an additional 2,129 shares during the period. Finally, Prudential Financial Inc. increased its holdings in shares of Matthews International by 47.4% in the 1st quarter. Prudential Financial Inc. now owns 78,718 shares of the company’s stock valued at $3,983,000 after acquiring an additional 25,300 shares during the period. Institutional investors and hedge funds own 81.15% of the company’s stock.

Shares of MATW stock opened at $52.35 on Friday. Matthews International Corp has a 1-year low of $47.70 and a 1-year high of $65.10. The company has a current ratio of 2.05, a quick ratio of 1.45 and a debt-to-equity ratio of 1.20. The firm has a market cap of $1.64 billion, a P/E ratio of 13.48 and a beta of 1.05.

Matthews International (NASDAQ:MATW) last announced its earnings results on Thursday, July 26th. The company reported $1.16 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.14 by $0.02. Matthews International had a return on equity of 14.70% and a net margin of 6.12%. The firm had revenue of $411.62 million for the quarter, compared to the consensus estimate of $421.59 million. During the same period in the previous year, the business earned $1.05 EPS. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. equities research analysts forecast that Matthews International Corp will post 3.9 earnings per share for the current fiscal year.

A number of brokerages have recently issued reports on MATW. BidaskClub downgraded Matthews International from a “hold” rating to a “sell” rating in a report on Friday, July 27th. Zacks Investment Research downgraded Matthews International from a “buy” rating to a “hold” rating in a report on Thursday, June 28th. ValuEngine downgraded Matthews International from a “sell” rating to a “strong sell” rating in a report on Saturday, July 28th. Finally, TheStreet downgraded Matthews International from a “b” rating to a “c+” rating in a report on Monday, August 20th. Two equities research analysts have rated the stock with a sell rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $74.50.

About Matthews International

Matthews International Corporation provides brand solutions, memorialization products, and industrial products in the United States, Central and South America, Canada, Europe, Australia, and Asia. It operates through three segments: SGK Brand Solutions, Memorialization, and Industrial Technologies. The SGK Brand Solutions segment provides brand development, deployment, delivery, brand management, 3-D graphics renderings, pre-media graphics services, printing plates, gravure cylinders, steel bases, embossing tools, special purpose machinery, engineering assistance, print process assistance, print production management, digital asset management, content management, and package design services to brand owners and packaging manufacturers; and creative digital graphics services, as well as designs, engineers, manufactures, and executes merchandising and display systems.

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

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