Barington Capital Group L.P. Raises Stock Position in Matthews International Co. (NASDAQ:MATW)

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

Other hedge funds also recently made changes to their positions in the company. Nebula Research & Development LLC raised its stake in shares of Matthews International by 25.9% in the 4th quarter. Nebula Research & Development LLC now owns 14,035 shares of the company's stock worth $388,000 after buying an additional 2,888 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Matthews International by 2.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 76,715 shares of the company's stock worth $2,124,000 after acquiring an additional 1,802 shares in the last quarter. Hsbc Holdings PLC bought a new position in shares of Matthews International during the 4th quarter valued at about $616,000. Formula Growth Ltd. acquired a new position in shares of Matthews International in the 4th quarter worth approximately $1,329,000. Finally, CANADA LIFE ASSURANCE Co grew its stake in shares of Matthews International by 3.6% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 31,156 shares of the company's stock worth $862,000 after purchasing an additional 1,088 shares during the last quarter. Institutional investors own 83.08% of the company's stock.

Matthews International Price Performance

MATW stock traded down $1.03 on Wednesday, hitting $20.45. 553,267 shares of the company's stock traded hands, compared to its average volume of 249,763. The company has a current ratio of 1.58, a quick ratio of 0.96 and a debt-to-equity ratio of 1.94. The stock has a market cap of $633.32 million, a price-to-earnings ratio of -10.38 and a beta of 1.07. Matthews International Co. has a 1-year low of $18.50 and a 1-year high of $32.24. The stock has a fifty day moving average of $22.07 and a 200-day moving average of $25.32.

Matthews International (NASDAQ:MATW - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.12). Matthews International had a positive return on equity of 12.88% and a negative net margin of 3.48%. On average, analysts forecast that Matthews International Co. will post 1.73 EPS for the current fiscal year.

Matthews International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, May 26th. Stockholders of record on Monday, May 12th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.89%. Matthews International's dividend payout ratio (DPR) is currently -50.76%.

Matthews International 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.