Northern Trust Corp Buys 27,348 Shares of Matthews International Co. (NASDAQ:MATW)

Northern Trust Corp boosted its position in shares of Matthews International Co. (NASDAQ:MATW) by 8.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 340,785 shares of the company’s stock after buying an additional 27,348 shares during the quarter. Northern Trust Corp owned 1.10% of Matthews International worth $9,433,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of MATW. Barington Capital Group L.P. boosted its stake in shares of Matthews International by 23.9% during the 4th quarter. Barington Capital Group L.P. now owns 563,962 shares of the company’s stock worth $15,610,000 after purchasing an additional 108,962 shares during the period. Nebula Research & Development LLC lifted its stake in Matthews International by 25.9% in the fourth quarter. Nebula Research & Development LLC now owns 14,035 shares of the company’s stock worth $388,000 after purchasing an additional 2,888 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Matthews International by 2.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 76,715 shares of the company’s stock valued at $2,124,000 after buying an additional 1,802 shares during the period. Hsbc Holdings PLC purchased a new position in shares of Matthews International during the fourth quarter valued at approximately $616,000. Finally, Formula Growth Ltd. bought a new position in shares of Matthews International during the fourth quarter valued at approximately $1,329,000. Institutional investors own 83.08% of the company’s stock.

Matthews International Trading Up 1.2%

Shares of NASDAQ MATW opened at $20.93 on Friday. The business’s 50 day moving average price is $21.01 and its 200-day moving average price is $25.09. Matthews International Co. has a fifty-two week low of $18.50 and a fifty-two week high of $32.24. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.96 and a current ratio of 1.58. The company has a market cap of $649.02 million, a price-to-earnings ratio of -10.62 and a beta of 1.20.

Matthews International (NASDAQ:MATW) last released its earnings results on Wednesday, April 30th. The company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.02). The business had revenue of $427.63 million for the quarter, compared to the consensus estimate of $435.62 million. Matthews International had a positive return on equity of 12.88% and a negative net margin of 3.48%. On average, sell-side analysts expect that Matthews International Co. will post 1.73 earnings per share for the current year.

Matthews International Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, May 26th. Stockholders of record on Monday, May 12th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.78%. The ex-dividend date is Monday, May 12th. Matthews International’s dividend payout ratio (DPR) is presently -39.22%.

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.