Foundry Partners LLC Has $9.24 Million Holdings in Matthews International Corp (NASDAQ:MATW)

Foundry Partners LLC grew its stake in Matthews International Corp (NASDAQ:MATW) by 11.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 261,143 shares of the company’s stock after buying an additional 27,695 shares during the period. Foundry Partners LLC owned approximately 0.83% of Matthews International worth $9,242,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Prudential Financial Inc. lifted its position in shares of Matthews International by 40.9% during the 2nd quarter. Prudential Financial Inc. now owns 118,255 shares of the company’s stock worth $4,121,000 after purchasing an additional 34,310 shares during the last quarter. Gabelli Funds LLC lifted its position in shares of Matthews International by 9.1% during the 2nd quarter. Gabelli Funds LLC now owns 78,000 shares of the company’s stock worth $2,718,000 after purchasing an additional 6,479 shares during the last quarter. First Trust Advisors LP lifted its position in shares of Matthews International by 32.0% during the 2nd quarter. First Trust Advisors LP now owns 52,685 shares of the company’s stock worth $1,836,000 after purchasing an additional 12,781 shares during the last quarter. Stone Ridge Asset Management LLC acquired a new position in shares of Matthews International during the 2nd quarter worth about $209,000. Finally, Ontario Teachers Pension Plan Board acquired a new position in shares of Matthews International during the 2nd quarter worth about $1,977,000. 81.51% of the stock is owned by institutional investors.

Shares of MATW opened at $36.77 on Friday. Matthews International Corp has a 12-month low of $28.57 and a 12-month high of $47.24. The company has a quick ratio of 1.36, a current ratio of 1.96 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $1.17 billion, a price-to-earnings ratio of 10.52 and a beta of 1.20. The stock’s 50-day moving average price is $34.47 and its 200 day moving average price is $34.62.

Matthews International (NASDAQ:MATW) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.94 by ($0.04). Matthews International had a net margin of 4.04% and a return on equity of 13.20%. The firm had revenue of $379.30 million for the quarter, compared to the consensus estimate of $388.38 million. During the same quarter in the prior year, the firm earned $1.16 earnings per share. The company’s revenue was down 7.8% on a year-over-year basis. Equities research analysts expect that Matthews International Corp will post 3.38 EPS for the current year.

Several equities analysts recently weighed in on MATW shares. Zacks Investment Research cut Matthews International from a “hold” rating to a “strong sell” rating in a research report on Wednesday. B. Riley lowered their price target on Matthews International from $70.00 to $65.00 and set a “buy” rating on the stock in a research note on Friday, October 18th. BidaskClub upgraded Matthews International from a “hold” rating to a “buy” rating in a research note on Thursday, October 17th. Finally, ValuEngine upgraded Matthews International from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $50.00.

About Matthews International

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.

Read More: What is Green Investing?

Want to see what other hedge funds are holding MATW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Matthews International Corp (NASDAQ:MATW).

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

Receive News & Ratings for Matthews International Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Matthews International and related companies with MarketBeat.com's FREE daily email newsletter.