Rhumbline Advisers Sells 2,982 Shares of Matthews International Co. (NASDAQ:MATW)

Rhumbline Advisers cut its holdings in Matthews International Co. (NASDAQ:MATW) by 3.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 89,713 shares of the company’s stock after selling 2,982 shares during the period. Rhumbline Advisers owned 0.29% of Matthews International worth $1,995,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Ameriprise Financial Inc. raised its position in shares of Matthews International by 10.0% during the 4th quarter. Ameriprise Financial Inc. now owns 1,854,343 shares of the company’s stock valued at $51,328,000 after purchasing an additional 168,970 shares during the period. Barington Capital Group L.P. raised its position 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 valued at $15,610,000 after purchasing an additional 108,962 shares during the period. Quinn Opportunity Partners LLC raised its position in shares of Matthews International by 100.7% during the 4th quarter. Quinn Opportunity Partners LLC now owns 192,620 shares of the company’s stock valued at $5,332,000 after purchasing an additional 96,646 shares during the period. Russell Investments Group Ltd. raised its position in shares of Matthews International by 1,718.7% during the 4th quarter. Russell Investments Group Ltd. now owns 85,662 shares of the company’s stock valued at $2,371,000 after purchasing an additional 80,952 shares during the period. Finally, Formula Growth Ltd. bought a new stake in shares of Matthews International during the 4th quarter valued at $1,329,000. 83.08% of the stock is currently owned by institutional investors.

Matthews International Stock Performance

MATW opened at $22.01 on Tuesday. The stock has a market capitalization of $682.51 million, a price-to-earnings ratio of -11.17 and a beta of 1.24. The company has a fifty day moving average of $20.86 and a 200 day moving average of $24.49. 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.

Matthews International (NASDAQ:MATW) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). Matthews International had a positive return on equity of 12.88% and a negative net margin of 3.48%. The business had revenue of $427.63 million during the quarter, compared to analysts’ expectations of $435.62 million. As a group, sell-side analysts forecast that Matthews International Co. will post 1.73 earnings per share for the current fiscal year.

Matthews International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 26th. Investors of record on Monday, May 12th were paid a dividend of $0.25 per share. The ex-dividend date was Monday, May 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.54%. Matthews International’s dividend payout ratio is presently -39.22%.

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.