Barington Capital Group L.P. Has $21.83 Million Holdings in Matthews International Corporation $MATW

Barington Capital Group L.P. grew its stake in shares of Matthews International Corporation (NASDAQ:MATW) by 14.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 912,804 shares of the company’s stock after buying an additional 114,187 shares during the period. Matthews International accounts for approximately 20.3% of Barington Capital Group L.P.’s portfolio, making the stock its largest holding. Barington Capital Group L.P. owned approximately 2.96% of Matthews International worth $21,825,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC grew its stake in Matthews International by 55.1% during the second quarter. GAMMA Investing LLC now owns 1,687 shares of the company’s stock valued at $40,000 after acquiring an additional 599 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in Matthews International by 2.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 25,600 shares of the company’s stock valued at $569,000 after purchasing an additional 650 shares during the period. SummerHaven Investment Management LLC grew its position in shares of Matthews International by 2.2% during the 2nd quarter. SummerHaven Investment Management LLC now owns 33,377 shares of the company’s stock valued at $798,000 after purchasing an additional 714 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Matthews International by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,686 shares of the company’s stock worth $393,000 after purchasing an additional 780 shares during the period. Finally, New York State Common Retirement Fund increased its holdings in shares of Matthews International by 0.4% in the second quarter. New York State Common Retirement Fund now owns 225,768 shares of the company’s stock worth $5,398,000 after purchasing an additional 889 shares during the period. 83.08% of the stock is owned by hedge funds and other institutional investors.

Matthews International Stock Performance

NASDAQ:MATW opened at $24.54 on Monday. The company has a market capitalization of $755.70 million, a price-to-earnings ratio of -11.57 and a beta of 1.30. The business has a 50 day moving average of $23.88 and a 200 day moving average of $23.68. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.66 and a quick ratio of 0.98. Matthews International Corporation has a 1-year low of $18.50 and a 1-year high of $32.00.

Matthews International (NASDAQ:MATW) last issued its quarterly earnings results on Friday, November 21st. The company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.28. The business had revenue of $318.84 million for the quarter, compared to analysts’ expectations of $290.79 million. Matthews International had a negative net margin of 4.01% and a positive return on equity of 9.15%. On average, sell-side analysts predict that Matthews International Corporation will post 1.73 earnings per share for the current fiscal year.

Matthews International Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be given a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date is Monday, December 1st. This is a boost from Matthews International’s previous quarterly dividend of $0.25. Matthews International’s dividend payout ratio is -129.11%.

Wall Street Analyst Weigh In

MATW has been the subject of several research analyst reports. Wall Street Zen raised Matthews International from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Weiss Ratings reiterated a “sell (d)” rating on shares of Matthews International in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Matthews International presently has an average rating of “Sell”.

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.