Matthews International Corporation $MATW Stock Position Lifted by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC grew its holdings in shares of Matthews International Corporation (NASDAQ:MATW) by 2.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,100,957 shares of the company’s stock after purchasing an additional 25,478 shares during the period. Allspring Global Investments Holdings LLC owned approximately 3.53% of Matthews International worth $27,832,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Matthews International by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,686 shares of the company’s stock valued at $393,000 after buying an additional 780 shares during the period. Jane Street Group LLC bought a new stake in Matthews International during the first quarter worth approximately $1,227,000. Intech Investment Management LLC raised its holdings in Matthews International by 316.4% during the first quarter. Intech Investment Management LLC now owns 59,502 shares of the company’s stock worth $1,323,000 after purchasing an additional 45,212 shares in the last quarter. American Century Companies Inc. lifted its position in Matthews International by 7.9% in the second quarter. American Century Companies Inc. now owns 64,988 shares of the company’s stock worth $1,554,000 after purchasing an additional 4,742 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in Matthews International in the second quarter worth approximately $1,406,000. 83.08% of the stock is currently owned by institutional investors.

Matthews International Trading Down 1.2%

Shares of NASDAQ MATW opened at $27.12 on Tuesday. Matthews International Corporation has a 12 month low of $21.95 and a 12 month high of $30.93. The company has a market cap of $846.14 million, a price-to-earnings ratio of 87.48 and a beta of 1.08. The company has a quick ratio of 0.97, a current ratio of 1.64 and a debt-to-equity ratio of 1.12. The business has a fifty day simple moving average of $26.58 and a 200-day simple moving average of $26.54.

Matthews International (NASDAQ:MATW) last issued its quarterly earnings results on Thursday, April 30th. The company reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.20. The firm had revenue of $258.62 million for the quarter, compared to analysts’ expectations of $253.65 million. Matthews International had a return on equity of 5.88% and a net margin of 0.80%. Sell-side analysts predict that Matthews International Corporation will post 1.09 EPS for the current year.

Matthews International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 25th. Stockholders of record on Monday, May 11th were given a $0.255 dividend. This represents a $1.02 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend was Monday, May 11th. Matthews International’s dividend payout ratio (DPR) is 329.03%.

Analysts Set New Price Targets

MATW has been the topic of a number of research reports. Weiss Ratings downgraded Matthews International from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, May 6th. Zacks Research raised Matthews International from a “strong sell” rating to a “hold” rating in a research note on Monday, April 6th. Finally, Wall Street Zen lowered Matthews International from a “buy” rating to a “hold” rating in a report on Sunday, May 10th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Reduce”.

About Matthews International

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.