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.
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.
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