Fmr LLC Sells 991 Shares of Matthews International Co. (NASDAQ:MATW)

Fmr LLC cut its stake in shares of Matthews International Co. (NASDAQ:MATW) by 46.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,123 shares of the company’s stock after selling 991 shares during the quarter. Fmr LLC’s holdings in Matthews International were worth $26,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of MATW. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Matthews International by 21.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 78,516 shares of the company’s stock worth $1,822,000 after acquiring an additional 13,620 shares during the last quarter. KBC Group NV increased its holdings in shares of Matthews International by 63.7% in the 3rd quarter. KBC Group NV now owns 1,937 shares of the company’s stock worth $45,000 after purchasing an additional 754 shares in the last quarter. Victory Capital Management Inc. purchased a new position in shares of Matthews International in the third quarter worth $235,000. GSA Capital Partners LLP bought a new position in shares of Matthews International during the third quarter valued at $222,000. Finally, Semanteon Capital Management LP purchased a new stake in shares of Matthews International during the third quarter valued at $459,000. Hedge funds and other institutional investors own 83.08% of the company’s stock.

Matthews International Trading Up 2.1 %

Shares of MATW stock opened at $28.41 on Friday. The company has a current ratio of 1.45, a quick ratio of 0.91 and a debt-to-equity ratio of 1.76. Matthews International Co. has a 12-month low of $21.09 and a 12-month high of $39.12. The stock has a market capitalization of $869.40 million, a P/E ratio of -14.72 and a beta of 1.13. The firm’s 50 day moving average is $26.48 and its 200 day moving average is $25.40.

Matthews International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.00 annualized dividend and a dividend yield of 3.52%. This is a positive change from Matthews International’s previous quarterly dividend of $0.24. Matthews International’s payout ratio is presently -51.81%.

Analyst Upgrades and Downgrades

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

Matthews International 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.