Cambridge Investment Research Advisors Inc. Sells 6,334 Shares of Matthews International Co. (NASDAQ:MATW)

Cambridge Investment Research Advisors Inc. trimmed its holdings in Matthews International Co. (NASDAQ:MATW – Get Rating) by 29.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,378 shares of the company’s stock after selling 6,334 shares during the quarter. Cambridge Investment Research Advisors Inc. owned about 0.05% of Matthews International worth $468,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position in Matthews International by 11.3% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 14,000 shares of the company’s stock valued at $426,000 after purchasing an additional 1,423 shares during the last quarter. Arizona State Retirement System purchased a new stake in Matthews International during the 4th quarter valued at about $237,000. US Asset Management LLC purchased a new stake in Matthews International during the 4th quarter valued at about $43,000. Handelsbanken Fonder AB purchased a new stake in Matthews International during the 4th quarter valued at about $223,000. Finally, Envestnet Asset Management Inc. purchased a new stake in Matthews International during the 4th quarter valued at about $264,000. 81.25% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

MATW has been the topic of several recent analyst reports. TheStreet raised shares of Matthews International from a “c” rating to a “b-” rating in a research report on Friday, April 28th. StockNews.com assumed coverage on shares of Matthews International in a report on Thursday, May 18th. They set a “buy” rating on the stock. Finally, B. Riley increased their price objective on shares of Matthews International from $45.00 to $50.00 in a research note on Monday, May 1st.

Matthews International Trading Down 2.5 %

Matthews International stock opened at $38.79 on Friday. The stock has a market cap of $1.18 billion, a P/E ratio of -18.21 and a beta of 1.13. The company has a debt-to-equity ratio of 1.51, a current ratio of 1.57 and a quick ratio of 0.92. Matthews International Co. has a 1 year low of $22.12 and a 1 year high of $40.49. The firm’s 50 day moving average price is $37.08 and its 200-day moving average price is $35.14.

Matthews International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 22nd. Stockholders of record on Monday, May 8th were given a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a dividend yield of 2.37%. The ex-dividend date was Friday, May 5th. Matthews International’s payout ratio is currently -43.19%.

Matthews International Company Profile

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Matthews International Corp. engages in the provision of brand solutions, memorialization products, and industrial technologies. It operates through the following segments: Memorialization, Industrial Technologies, and SGK Brand Solutions. The Memorialization segment consists of bronze and granite memorials, and other memorialization products, caskets and cremation and incineration equipment for the cemetery and funeral home industries.