TIAA CREF Investment Management LLC lowered its holdings in Matthews International Corporation (NASDAQ:MATW) by 1.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 84,989 shares of the company’s stock after selling 1,310 shares during the period. TIAA CREF Investment Management LLC owned approximately 0.26% of Matthews International Corporation worth $5,206,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Riverhead Capital Management LLC raised its holdings in shares of Matthews International Corporation by 60.6% during the second quarter. Riverhead Capital Management LLC now owns 2,731 shares of the company’s stock worth $167,000 after acquiring an additional 1,031 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Matthews International Corporation by 17.6% during the second quarter. Victory Capital Management Inc. now owns 3,474 shares of the company’s stock worth $213,000 after acquiring an additional 520 shares in the last quarter. Raymond James Trust N.A. raised its holdings in shares of Matthews International Corporation by 7.8% during the second quarter. Raymond James Trust N.A. now owns 5,413 shares of the company’s stock worth $332,000 after acquiring an additional 393 shares in the last quarter. Capital Fund Management S.A. purchased a new stake in shares of Matthews International Corporation during the second quarter worth $392,000. Finally, Municipal Employees Retirement System of Michigan raised its holdings in shares of Matthews International Corporation by 3.7% during the second quarter. Municipal Employees Retirement System of Michigan now owns 7,610 shares of the company’s stock worth $466,000 after acquiring an additional 270 shares in the last quarter. Institutional investors own 78.57% of the company’s stock.

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MATW has been the subject of several recent research reports. Macquarie upgraded Matthews International Corporation from a “neutral” rating to an “outperform” rating and set a $75.00 price objective for the company in a report on Wednesday, July 5th. Zacks Investment Research upgraded Matthews International Corporation from a “sell” rating to a “hold” rating in a report on Monday, October 2nd. BidaskClub lowered Matthews International Corporation from a “sell” rating to a “strong sell” rating in a report on Friday, August 18th. Finally, FBR & Co reiterated an “outperform” rating on shares of Matthews International Corporation in a report on Tuesday, July 11th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $83.50.

Shares of Matthews International Corporation (MATW) opened at 61.50 on Wednesday. The company’s 50 day moving average price is $61.12 and its 200 day moving average price is $63.91. The stock has a market capitalization of $1.98 billion, a price-to-earnings ratio of 25.92 and a beta of 1.14. Matthews International Corporation has a one year low of $57.40 and a one year high of $77.85.

Matthews International Corporation (NASDAQ:MATW) last posted its quarterly earnings data on Thursday, July 27th. The company reported $1.05 EPS for the quarter, beating the consensus estimate of $1.04 by $0.01. The business had revenue of $389.63 million for the quarter, compared to analysts’ expectations of $392.03 million. Matthews International Corporation had a net margin of 5.17% and a return on equity of 16.23%. The firm’s revenue was up 2.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.97 EPS. On average, analysts expect that Matthews International Corporation will post $3.61 earnings per share for the current fiscal year.

Matthews International Corporation Profile

Matthews International Corporation is a provider of brand solutions, memorialization products and industrial technologies. The Company operates through three segments: SGK Brand Solutions, Memorialization and Industrial Technologies. The SGK Brand Solutions segment provides brand development, deployment and delivery (consisting of brand management, printing plates and cylinders, pre-media services and imaging services for consumer packaged goods and retail customers, merchandising display systems, and marketing and design services).

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

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