JPMorgan Chase & Co. Raises Stake in Matthews International Co. (NASDAQ:MATW)

JPMorgan Chase & Co. increased its stake in shares of Matthews International Co. (NASDAQ:MATW) by 46.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 73,771 shares of the company’s stock after buying an additional 23,492 shares during the period. JPMorgan Chase & Co. owned about 0.24% of Matthews International worth $2,042,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Smartleaf Asset Management LLC increased its holdings in Matthews International by 1,865.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,500 shares of the company’s stock worth $125,000 after acquiring an additional 4,271 shares during the last quarter. AlphaQuest LLC bought a new position in Matthews International during the fourth quarter worth about $154,000. KLP Kapitalforvaltning AS purchased a new position in shares of Matthews International in the fourth quarter worth about $155,000. Waldron Private Wealth LLC bought a new stake in shares of Matthews International in the fourth quarter valued at approximately $213,000. Finally, Arizona State Retirement System purchased a new stake in shares of Matthews International during the 4th quarter valued at approximately $233,000. Institutional investors own 83.08% of the company’s stock.

Matthews International Stock Up 2.8 %

Matthews International stock opened at $20.49 on Friday. The firm has a market capitalization of $634.55 million, a price-to-earnings ratio of -10.40 and a beta of 1.07. The firm has a 50 day simple moving average of $22.33 and a 200 day simple moving average of $25.31. Matthews International Co. has a 1-year low of $18.50 and a 1-year high of $32.24. The company has a current ratio of 1.58, a quick ratio of 0.96 and a debt-to-equity ratio of 1.94.

Matthews International (NASDAQ:MATW) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.12). Matthews International had a negative net margin of 3.48% and a positive return on equity of 12.88%. On average, analysts predict that Matthews International Co. will post 1.73 earnings per share for the current year.

Matthews International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 24th. Stockholders of record on Monday, February 10th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.88%. Matthews International’s dividend payout ratio (DPR) is currently -50.76%.

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.