Bank of New York Mellon Corp Trims Stock Position in Matthews International Corporation (NASDAQ:MATW)

Bank of New York Mellon Corp trimmed its holdings in Matthews International Corporation (NASDAQ:MATWFree Report) by 4.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 360,034 shares of the company’s stock after selling 15,821 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.16% of Matthews International worth $8,007,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. SummerHaven Investment Management LLC increased its stake in shares of Matthews International by 1.6% in the first quarter. SummerHaven Investment Management LLC now owns 32,663 shares of the company’s stock valued at $726,000 after buying an additional 514 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Matthews International by 3.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,906 shares of the company’s stock worth $468,000 after purchasing an additional 593 shares during the period. Quadrant Capital Group LLC grew its stake in Matthews International by 551.8% during the fourth quarter. Quadrant Capital Group LLC now owns 906 shares of the company’s stock worth $25,000 after purchasing an additional 767 shares during the period. Sterling Capital Management LLC boosted its holdings in Matthews International by 797.2% in the fourth quarter. Sterling Capital Management LLC now owns 951 shares of the company’s stock worth $26,000 after acquiring an additional 845 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its holdings in Matthews International by 3.6% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 31,156 shares of the company’s stock worth $862,000 after acquiring an additional 1,088 shares in the last quarter. 83.08% of the stock is owned by institutional investors and hedge funds.

Matthews International Stock Up 1.5%

MATW stock opened at $25.02 on Wednesday. Matthews International Corporation has a twelve month low of $18.50 and a twelve month high of $32.24. The company has a quick ratio of 1.09, a current ratio of 1.59 and a debt-to-equity ratio of 2.00. The stock’s 50 day moving average is $22.82 and its 200-day moving average is $23.63. The firm has a market capitalization of $775.87 million, a PE ratio of -9.81 and a beta of 1.27.

Matthews International (NASDAQ:MATWGet Free Report) last issued its quarterly earnings results 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 11.04% and a negative net margin of 4.62%. The business had revenue of $427.63 million for the quarter, compared to the consensus estimate of $435.62 million. Sell-side analysts expect that Matthews International Corporation will post 1.73 EPS for the current fiscal year.

Matthews International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 26th. Shareholders of record on Monday, May 12th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.00%. The ex-dividend date of this dividend was Monday, May 12th. Matthews International’s dividend payout ratio (DPR) is currently -39.22%.

Matthews International Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Matthews International (NASDAQ:MATW)

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