Bank of Montreal Can Takes Position in Matthews International Co. (NASDAQ:MATW)

Bank of Montreal Can bought a new position in Matthews International Co. (NASDAQ:MATWFree Report) in the second quarter, according to its most recent filing with the SEC. The firm bought 7,083 shares of the company’s stock, valued at approximately $303,000.

A number of other institutional investors also recently bought and sold shares of the stock. Schneider Downs Wealth Management Advisors LP boosted its stake in Matthews International by 10.2% in the 2nd quarter. Schneider Downs Wealth Management Advisors LP now owns 46,702 shares of the company’s stock worth $1,990,000 after purchasing an additional 4,307 shares in the last quarter. Strs Ohio boosted its stake in Matthews International by 6.5% in the 2nd quarter. Strs Ohio now owns 18,100 shares of the company’s stock worth $771,000 after purchasing an additional 1,100 shares in the last quarter. Inspire Investing LLC boosted its stake in Matthews International by 159.2% in the 2nd quarter. Inspire Investing LLC now owns 22,905 shares of the company’s stock worth $976,000 after purchasing an additional 14,067 shares in the last quarter. Victory Capital Management Inc. acquired a new stake in Matthews International in the 2nd quarter worth approximately $221,000. Finally, EA Series Trust acquired a new stake in Matthews International in the 2nd quarter worth approximately $3,752,000. 76.40% of the stock is currently owned by institutional investors and hedge funds.

Matthews International Stock Performance

Shares of NASDAQ MATW opened at $35.80 on Tuesday. The company has a current ratio of 1.63, a quick ratio of 0.92 and a debt-to-equity ratio of 1.48. Matthews International Co. has a 12 month low of $29.37 and a 12 month high of $48.86. The company has a 50 day simple moving average of $38.08 and a two-hundred day simple moving average of $40.81. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of 28.64 and a beta of 1.15.

Matthews International Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 11th. Investors of record on Monday, November 27th will be paid a $0.24 dividend. This is a boost from Matthews International’s previous quarterly dividend of $0.23. This represents a $0.96 annualized dividend and a dividend yield of 2.68%. The ex-dividend date of this dividend is Friday, November 24th. Matthews International’s payout ratio is currently 73.60%.

Analysts Set New Price Targets

A number of analysts recently commented on MATW shares. TheStreet cut shares of Matthews International from a “b-” rating to a “c+” rating in a research note on Wednesday, August 23rd. B. Riley lifted their price objective on shares of Matthews International from $50.00 to $64.00 and gave the company a “buy” rating in a research note on Monday, July 31st. Finally, StockNews.com began coverage on shares of Matthews International in a research note on Thursday, October 5th. They set a “buy” rating for the company.

Read Our Latest Report on Matthews International

Matthews International Profile

(Free Report)

Matthews International Corporation provides brand solutions, memorialization products, and industrial technologies worldwide. It operates through three segments: Memorialization, Industrial Technologies, and SGK Brand Solutions. The Memorialization segment provides bronze and granite memorials, upright granite memorials and monuments, concrete burial vaults, cremation memorialization products, granite benches, flower vases, crypt plates and letters, cremation urns, niche units, cemetery features, and statues, as well as bronze plaques, emblems, lights, photo ceramics, caskets, and cremation and incineration equipment for the cemetery and funeral home industries.

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

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