Maryland State Retirement & Pension System Has $268,000 Holdings in Matthews International Co. (NASDAQ:MATW)

Maryland State Retirement & Pension System lessened its stake in Matthews International Co. (NASDAQ:MATW) by 4.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,707 shares of the company’s stock after selling 515 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Matthews International were worth $268,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Matthews International by 2.2% in the first quarter. Vanguard Group Inc. now owns 3,619,317 shares of the company’s stock valued at $112,488,000 after buying an additional 76,752 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Matthews International by 1.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,428,242 shares of the company’s stock worth $52,347,000 after purchasing an additional 13,594 shares during the last quarter. Gamco Investors INC. ET AL boosted its holdings in Matthews International by 1.1% during the first quarter. Gamco Investors INC. ET AL now owns 1,072,951 shares of the company’s stock worth $33,347,000 after purchasing an additional 11,650 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Matthews International by 11.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 652,665 shares of the company’s stock worth $16,349,000 after purchasing an additional 65,188 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Matthews International by 4.3% during the second quarter. Bank of New York Mellon Corp now owns 360,165 shares of the company’s stock worth $9,022,000 after purchasing an additional 14,737 shares during the last quarter. Institutional investors and hedge funds own 83.08% of the company’s stock.

Matthews International Stock Performance

Shares of MATW opened at $24.23 on Thursday. Matthews International Co. has a 12 month low of $23.30 and a 12 month high of $41.89. The firm has a fifty day simple moving average of $25.81 and a 200 day simple moving average of $27.24. The stock has a market capitalization of $744.10 million, a price-to-earnings ratio of 22.86 and a beta of 1.11. The company has a current ratio of 1.66, a quick ratio of 1.02 and a debt-to-equity ratio of 1.64.

Matthews International (NASDAQ:MATW) last announced its earnings results on Thursday, August 1st. The company reported $0.56 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.02). Matthews International had a return on equity of 15.79% and a net margin of 1.43%. The business had revenue of $427.83 million for the quarter, compared to analyst estimates of $450.03 million. During the same quarter in the previous year, the company posted $0.74 EPS. Research analysts forecast that Matthews International Co. will post 2.53 EPS for the current fiscal year.

Matthews International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Monday, August 5th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 3.96%. The ex-dividend date was Monday, August 5th. Matthews International’s payout ratio is 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.