Cubist Systematic Strategies LLC Invests $1.44 Million in Matthews International Co. (NASDAQ:MATW)

Cubist Systematic Strategies LLC acquired a new position in shares of Matthews International Co. (NASDAQ:MATW) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 57,361 shares of the company’s stock, valued at approximately $1,437,000. Cubist Systematic Strategies LLC owned about 0.19% of Matthews International as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in MATW. Norges Bank acquired a new position in shares of Matthews International during the 4th quarter worth about $7,200,000. Gabelli Funds LLC lifted its position 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 purchasing an additional 1,896 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in shares of Matthews International by 267.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 19,269 shares of the company’s stock worth $706,000 after purchasing an additional 14,030 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Matthews International by 25.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 587,477 shares of the company’s stock worth $18,259,000 after purchasing an additional 117,461 shares during the last quarter. Finally, BNP Paribas Financial Markets raised its holdings in Matthews International by 18.7% in the 1st quarter. BNP Paribas Financial Markets now owns 14,873 shares of the company’s stock valued at $462,000 after acquiring an additional 2,344 shares in the last quarter. Institutional investors and hedge funds own 83.08% of the company’s stock.

Matthews International Trading Down 2.1 %

Matthews International stock opened at $22.72 on Wednesday. The business has a 50 day moving average price of $25.12 and a two-hundred day moving average price of $26.54. The company has a quick ratio of 1.02, a current ratio of 1.66 and a debt-to-equity ratio of 1.64. The stock has a market cap of $697.73 million, a price-to-earnings ratio of 21.58 and a beta of 1.08. Matthews International Co. has a 12 month low of $22.47 and a 12 month high of $40.80.

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

Matthews International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Monday, August 5th were issued a $0.24 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.23%. Matthews International’s payout ratio is presently 90.57%.

Analyst Upgrades and Downgrades

Separately, B. Riley cut their price target on Matthews International from $54.00 to $40.00 and set a “buy” rating for the company in a report on Thursday, September 26th.

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.