On June 6, 2023, it was reported that Martingale Asset Management LP trimmed its holdings in Matthews International Co. (NASDAQ: MATW) by 8.0% during the fourth quarter according to the Securities and Exchange Commission filing. The firm owned 35,549 shares after selling 3,079 shares during the period, with a value of $1,082,000.
Matthews International Corp. provides brand solutions, memorialization products and industrial technologies globally through three segments – Memorialization, Industrial Technologies and SGK Brand Solutions. The first segment comprises bronze and granite memorials along with caskets and cremation equipment for funeral homes which generate high revenues for the company.
As of the opening on Monday at $40.48 per share, Matthews International’s stock has seen a steady increase in price as their fifty day moving average is $37.58 while their 200-day moving average is $35.77. With a quick ratio of 0.92 and current ratio of 1.57 as well as a debt-to-equity ratio of 1.51; this shows that Matthews International Corp has financial stability despite fluctuations in market trends.
Additionally, having a market cap of $1.23 billion and a beta value of 1.12 with earnings before taxes making up approximately one-fifth of revenues reflects strong profitability for investors to consider when weighing investment opportunities within the global economy.
Although Matthews International Co had experienced low stock prices in prior years with December lows hitting roughly around $22 per share; recent patterns indicate they are on track to become an influential industry leader due to successful management strategies implemented through various innovative initiatives such as globalization efforts to reach new markets and acquire more business deals which will keep investors interested in its future potential growth prospects.
In conclusion, despite ongoing changes in world events and macroeconomic indicators adjusting over time – investments within companies such as Matthews International can provide long-term stability and profitability for investors who plan to stay current in the latest market trends and have a keen understanding of industry developments.
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Matthews International: Increase in Institutional Investor Stakes and Positive Analyst Ratings
Matthews International Sees Increase in Institutional Investor Stakes and Positive Analyst Ratings
Matthews International, a global provider of brand solutions, memorialization products, and industrial automation solutions, has recently seen an increase in institutional investor stakes according to several reports. In addition to this news, the company has received positive analyst ratings and has disclosed a quarterly dividend paid on May 22nd.
US Bancorp DE raised its stake in Matthews International by 92.3% during the 1st quarter and Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its position by 2.1%. PNC Financial Services Group Inc. increased its stake by 6.1% during the fourth quarter and NorthCrest Asset Management LLC increased its stake by 2.0%. Lastly, Mutual of America Capital Management LLC increased its stake by 15.8% during the third quarter.
These institutional investors and hedge funds now own 81.25% of Matthews International’s stock reflecting continued confidence among investors in the company’s financial prospects.
Several equities research analysts have recently weighed in on MATW shares with B.Riley upping their price objective from $45.00 to $50.00. StockNews.com started coverage on Matthews International with a “buy” rating on the stock while TheStreet upgraded it from a “c” rating to a “b-” rating in their research report.
In addition to these developments, Matthews International disclosed that it recently paid out a quarterly dividend payment of $0.23 per share to shareholders of record on May 8th.The ex-dividend date for this payout was Friday, May 5th .
Overall, these recent developments all indicate positive prospects for Matthews International as they continue to grow their financial standing and reputation among analysts and investors alike.It will be interesting to follow how it develops over time in this dynamic market environment as June marks the halfway point of what could be a very promising year for the company, with plenty of potential to continue growing and improving.