Zurcher Kantonalbank Zurich Cantonalbank Has $214,000 Position in Matthews International Co. (NASDAQ:MATW)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Matthews International Co. (NASDAQ:MATW) by 17.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,841 shares of the company’s stock after buying an additional 879 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Matthews International were worth $214,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Campbell Capital Management Inc. bought a new position in Matthews International in the fourth quarter valued at about $4,236,000. Great Lakes Advisors LLC acquired a new position in Matthews International during the 3rd quarter valued at about $2,530,000. Deutsche Bank AG lifted its position in Matthews International by 12.5% during the 3rd quarter. Deutsche Bank AG now owns 17,270 shares of the company’s stock valued at $672,000 after purchasing an additional 1,914 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of Matthews International by 53.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 470,016 shares of the company’s stock valued at $17,226,000 after purchasing an additional 163,984 shares during the last quarter. Finally, New York State Teachers Retirement System grew its position in shares of Matthews International by 1.2% during the 4th quarter. New York State Teachers Retirement System now owns 63,068 shares of the company’s stock worth $2,311,000 after buying an additional 735 shares during the period. 83.08% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on MATW shares. B. Riley cut their price objective on shares of Matthews International from $61.00 to $59.00 and set a “buy” rating on the stock in a report on Monday, February 5th. StockNews.com downgraded Matthews International from a “buy” rating to a “hold” rating in a research note on Friday, February 9th.

Matthews International Stock Performance

Shares of MATW stock opened at $27.89 on Tuesday. The stock has a market cap of $855.67 million, a PE ratio of 26.31 and a beta of 1.14. The stock has a 50-day moving average of $28.33 and a 200-day moving average of $32.17. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.82 and a quick ratio of 1.12. Matthews International Co. has a one year low of $25.42 and a one year high of $48.86.

Matthews International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, May 6th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 3.44%. The ex-dividend date is Friday, May 3rd. Matthews International’s payout ratio is presently 90.57%.

Matthews International Company Profile

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, letters, emblems, vases, lights and photo ceramics, granite monuments, mausoleums, crypts, and flush memorials.