Matthews International Co. (NASDAQ:MATW) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. lowered its position in shares of Matthews International Co. (NASDAQ:MATWFree Report) by 0.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,542,565 shares of the company’s stock after selling 8,199 shares during the period. Vanguard Group Inc. owned approximately 11.55% of Matthews International worth $129,835,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Gabelli Funds LLC increased its holdings in shares of Matthews International by 1.4% during the 4th quarter. Gabelli Funds LLC now owns 142,246 shares of the company’s stock worth $5,213,000 after buying an additional 1,896 shares during the last quarter. Millrace Asset Group Inc. acquired a new stake in shares of Matthews International during the 4th quarter worth approximately $1,701,000. D.A. Davidson & CO. increased its holdings in Matthews International by 108.3% in the 4th quarter. D.A. Davidson & CO. now owns 11,290 shares of the company’s stock valued at $414,000 after purchasing an additional 5,870 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in Matthews International by 267.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 19,269 shares of the company’s stock valued at $706,000 after purchasing an additional 14,030 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Matthews International in the fourth quarter valued at approximately $469,000. Institutional investors and hedge funds own 83.08% of the company’s stock.

Matthews International Stock Down 2.1 %

Shares of NASDAQ MATW opened at $23.95 on Friday. The firm has a market cap of $735.50 million, a price-to-earnings ratio of 22.59 and a beta of 1.11. The company has a quick ratio of 1.12, a current ratio of 1.82 and a debt-to-equity ratio of 1.64. Matthews International Co. has a 52-week low of $23.42 and a 52-week high of $48.86. The business’s 50 day moving average is $27.10 and its two-hundred day moving average is $29.59.

Matthews International (NASDAQ:MATWGet Free Report) last announced its earnings results on Thursday, May 2nd. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.24. The company had revenue of $471.22 million for the quarter, compared to analyst estimates of $469.38 million. Matthews International had a return on equity of 16.75% and a net margin of 1.77%. Research analysts predict that Matthews International Co. will post 2.53 EPS for the current year.

Matthews International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 20th. Shareholders of record on Monday, May 6th were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date of this dividend was Friday, May 3rd. Matthews International’s payout ratio is 90.57%.

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

Further Reading

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

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