Allspring Global Investments Holdings LLC Has $27.89 Million Position in Matthews International Corporation $MATW

Allspring Global Investments Holdings LLC increased its holdings in shares of Matthews International Corporation (NASDAQ:MATW) by 2.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,075,479 shares of the company’s stock after buying an additional 22,046 shares during the period. Allspring Global Investments Holdings LLC owned about 3.49% of Matthews International worth $27,887,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. SG Americas Securities LLC lifted its holdings in shares of Matthews International by 54.9% during the fourth quarter. SG Americas Securities LLC now owns 15,367 shares of the company’s stock worth $401,000 after purchasing an additional 5,447 shares during the period. Private Capital Management LLC acquired a new stake in Matthews International during the 3rd quarter valued at approximately $8,215,000. Prelude Capital Management LLC lifted its holdings in Matthews International by 86.6% in the third quarter. Prelude Capital Management LLC now owns 93,643 shares of the company’s stock valued at $2,274,000 after buying an additional 43,461 shares during the period. Millennium Management LLC bought a new stake in Matthews International during the third quarter valued at $871,000. Finally, Cannell Capital LLC grew its holdings in Matthews International by 7.9% during the 3rd quarter. Cannell Capital LLC now owns 267,369 shares of the company’s stock worth $6,492,000 after acquiring an additional 19,542 shares during the period. 83.08% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

MATW has been the topic of a number of research analyst reports. Zacks Research cut Matthews International from a “hold” rating to a “strong sell” rating in a report on Monday, January 19th. Weiss Ratings upgraded shares of Matthews International from a “sell (d)” rating to a “hold (c)” rating in a research report on Friday, February 6th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce”.

Matthews International Stock Performance

NASDAQ MATW opened at $25.38 on Friday. The company’s 50 day simple moving average is $25.83 and its two-hundred day simple moving average is $25.36. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.51 and a quick ratio of 0.91. Matthews International Corporation has a 1 year low of $18.50 and a 1 year high of $29.11. The stock has a market capitalization of $789.98 million, a PE ratio of 35.75 and a beta of 1.12.

Matthews International (NASDAQ:MATW) last released its quarterly earnings results on Wednesday, February 4th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.24). The firm had revenue of $284.76 million during the quarter, compared to the consensus estimate of $282.50 million. Matthews International had a return on equity of 5.95% and a net margin of 1.64%. Analysts predict that Matthews International Corporation will post 1.73 earnings per share for the current fiscal year.

Matthews International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 23rd. Investors of record on Monday, February 9th were paid a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend was Monday, February 9th. Matthews International’s dividend payout ratio (DPR) is currently 143.66%.

Matthews International Company Profile

Matthews International Corporation (NASDAQ:MATW) is a diversified industrial company headquartered in Pittsburgh, Pennsylvania. The company operates through two primary business segments—Brand Solutions and Memorialization—offering a broad range of products and services designed to meet the needs of industrial manufacturers, brand marketers and the funeral industry worldwide.

In its Brand Solutions segment, Matthews International provides engraving and digital printing systems, automated finishing equipment, thermal management products and electronics assembly solutions.