GAMMA Investing LLC Boosts Stake in Matthews International Corporation (NASDAQ:MATW)

GAMMA Investing LLC lifted its position in Matthews International Corporation (NASDAQ:MATW) by 3,527.7% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,197 shares of the company’s stock after purchasing an additional 23,530 shares during the quarter. GAMMA Investing LLC owned approximately 0.08% of Matthews International worth $538,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC boosted its holdings in shares of Matthews International by 551.8% in the fourth quarter. Quadrant Capital Group LLC now owns 906 shares of the company’s stock valued at $25,000 after acquiring an additional 767 shares during the period. Sterling Capital Management LLC raised its position in Matthews International by 797.2% in the 4th quarter. Sterling Capital Management LLC now owns 951 shares of the company’s stock valued at $26,000 after purchasing an additional 845 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in Matthews International by 1,865.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 4,500 shares of the company’s stock worth $125,000 after purchasing an additional 4,271 shares during the period. Central Pacific Bank Trust Division purchased a new position in Matthews International during the 1st quarter worth $149,000. Finally, AlphaQuest LLC purchased a new position in Matthews International during the 4th quarter worth $154,000. Hedge funds and other institutional investors own 83.08% of the company’s stock.

Matthews International Price Performance

Shares of NASDAQ:MATW opened at $21.29 on Thursday. Matthews International Corporation has a one year low of $18.50 and a one year high of $32.24. The stock has a market capitalization of $660.20 million, a price-to-earnings ratio of -8.35 and a beta of 1.24. The company has a 50-day simple moving average of $20.88 and a 200-day simple moving average of $24.45. The company has a debt-to-equity ratio of 2.00, a quick ratio of 1.09 and a current ratio of 1.59.

Matthews International (NASDAQ:MATW) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.02). Matthews International had a negative net margin of 4.62% and a positive return on equity of 11.04%. The company had revenue of $427.63 million for the quarter, compared to analysts’ expectations of $435.62 million. On average, analysts predict that Matthews International Corporation will post 1.73 EPS for the current year.

Matthews International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, May 26th. Investors of record on Monday, May 12th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.70%. The ex-dividend date of this dividend was Monday, May 12th. Matthews International’s dividend payout ratio is presently -39.22%.

About Matthews International

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.