Allspring Global Investments Holdings LLC Has $24.60 Million Stock Position in Matthews International Corporation $MATW

Key Points

• Allspring Global Investments Holdings LLC increased its stake in Matthews International Corporation by 7.6%, owning approximately 3.23% of the company's shares, valued at $24.60 million.
• Matthews International has a current market capitalization of $718.33 million and reported earnings of $0.68 EPS with a negative net margin of 4.01%.
• The company declared a quarterly dividend of $0.25, which translates to an annualized dividend yield of 4.3%.

Allspring Global Investments Holdings LLC grew its position in Matthews International Corporation (NASDAQ:MATW - Free Report) by 7.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,000,398 shares of the company's stock after buying an additional 70,645 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 3.23% of Matthews International worth $24,600,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in MATW. GAMMA Investing LLC boosted its holdings in shares of Matthews International by 55.1% during the second quarter. GAMMA Investing LLC now owns 1,687 shares of the company's stock worth $40,000 after purchasing an additional 599 shares during the period. Janney Montgomery Scott LLC acquired a new stake in shares of Matthews International during the second quarter worth approximately $202,000. Maven Securities LTD acquired a new stake in shares of Matthews International during the first quarter worth approximately $334,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Matthews International by 4.6% during 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, Inspire Investing LLC boosted its holdings in shares of Matthews International by 9.0% during the first quarter. Inspire Investing LLC now owns 17,947 shares of the company's stock worth $399,000 after purchasing an additional 1,482 shares during the period. 83.08% of the stock is currently owned by institutional investors and hedge funds.

Matthews International Price Performance

NASDAQ MATW opened at $23.33 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.66 and a debt-to-equity ratio of 1.35. The stock has a market capitalization of $718.33 million, a PE ratio of -11.00 and a beta of 1.29. The company has a 50 day moving average price of $24.25 and a two-hundred day moving average price of $22.83. Matthews International Corporation has a 12-month low of $18.50 and a 12-month high of $32.24.

Matthews International (NASDAQ:MATW - Get Free Report) last posted its earnings results on Wednesday, February 16th. The company reported $0.68 earnings per share (EPS) for the quarter. The firm had revenue of $386.66 million during the quarter. Matthews International had a negative net margin of 4.01% and a positive return on equity of 9.15%. As a group, equities analysts predict that Matthews International Corporation will post 1.73 earnings per share for the current fiscal year.

Matthews International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 25th. Stockholders of record on Monday, August 11th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date was Monday, August 11th. Matthews International's payout ratio is presently -47.17%.

Analysts Set New Price Targets

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

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.

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