Matthews International Co. (NASDAQ:MATW) Stake Raised by Barington Capital Group L.P.

Barington Capital Group L.P. grew its stake in Matthews International Co. (NASDAQ:MATW - Free Report) by 23.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 563,962 shares of the company's stock after purchasing an additional 108,962 shares during the period. Matthews International comprises approximately 14.2% of Barington Capital Group L.P.'s investment portfolio, making the stock its 3rd largest holding. Barington Capital Group L.P. owned 1.82% of Matthews International worth $15,610,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of MATW. Barclays PLC lifted its holdings in Matthews International by 375.4% in the 3rd quarter. Barclays PLC now owns 52,823 shares of the company's stock valued at $1,225,000 after purchasing an additional 41,711 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Matthews International by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 729,539 shares of the company's stock worth $16,929,000 after acquiring an additional 6,536 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Matthews International by 14.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 50,279 shares of the company's stock worth $1,166,000 after acquiring an additional 6,514 shares during the last quarter. Waldron Private Wealth LLC acquired a new stake in shares of Matthews International in the 4th quarter worth $213,000. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Matthews International by 10.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 781,592 shares of the company's stock worth $21,126,000 after acquiring an additional 73,240 shares during the last quarter. Hedge funds and other institutional investors own 83.08% of the company's stock.

Matthews International Trading Down 0.5 %

Shares of MATW traded down $0.10 during midday trading on Thursday, reaching $20.35. The company had a trading volume of 277,305 shares, compared to its average volume of 189,444. Matthews International Co. has a 1-year low of $18.50 and a 1-year high of $32.24. The stock has a market cap of $630.22 million, a PE ratio of -10.31 and a beta of 1.07. The firm has a 50 day simple moving average of $22.00 and a 200-day simple moving average of $25.28. The company has a quick ratio of 0.96, a current ratio of 1.58 and a debt-to-equity ratio of 1.94.

Matthews International (NASDAQ:MATW - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $0.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.36 by ($0.02). Matthews International had a positive return on equity of 12.88% and a negative net margin of 3.48%. The business had revenue of $427.63 million for the quarter, compared to analyst estimates of $435.62 million. Research analysts forecast that Matthews International Co. will post 1.73 EPS for the current fiscal year.

Matthews International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 26th. Stockholders of record on Monday, May 12th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.91%. Matthews International's dividend payout ratio (DPR) is -50.76%.

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.