Allspring Global Investments Holdings LLC Raises Stock Position in Matthews International Corporation (NASDAQ:MATW)

Allspring Global Investments Holdings LLC grew its stake in Matthews International Corporation (NASDAQ:MATW - Free Report) by 19.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 929,753 shares of the company's stock after acquiring an additional 148,161 shares during the quarter. Allspring Global Investments Holdings LLC owned 3.00% of Matthews International worth $20,352,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in MATW. SummerHaven Investment Management LLC raised its position in shares of Matthews International by 1.6% in the 1st quarter. SummerHaven Investment Management LLC now owns 32,663 shares of the company's stock worth $726,000 after purchasing an additional 514 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Matthews International by 3.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,906 shares of the company's stock valued at $468,000 after purchasing an additional 593 shares in the last quarter. Quadrant Capital Group LLC raised its holdings in Matthews International by 551.8% in the fourth quarter. Quadrant Capital Group LLC now owns 906 shares of the company's stock worth $25,000 after buying an additional 767 shares during the last quarter. Sterling Capital Management LLC lifted its stake in shares of Matthews International by 797.2% in the fourth quarter. Sterling Capital Management LLC now owns 951 shares of the company's stock worth $26,000 after buying an additional 845 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co lifted its stake in shares of Matthews International by 3.6% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 31,156 shares of the company's stock worth $862,000 after buying an additional 1,088 shares in the last quarter. 83.08% of the stock is owned by institutional investors.

Matthews International Stock Down 0.5%

Shares of MATW traded down $0.13 on Friday, hitting $25.48. 142,779 shares of the stock traded hands, compared to its average volume of 204,798. Matthews International Corporation has a one year low of $18.50 and a one year high of $32.24. The company has a market capitalization of $790.01 million, a PE ratio of -9.99 and a beta of 1.27. The business has a 50 day simple moving average of $21.65 and a 200 day simple moving average of $23.85. The company has a debt-to-equity ratio of 2.00, a quick ratio of 1.09 and a current ratio of 1.59.

Matthews International (NASDAQ:MATW - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.02). Matthews International had a negative net margin of 4.62% and a positive return on equity of 11.04%. The business had revenue of $427.63 million for the quarter, compared to analysts' expectations of $435.62 million. As a group, equities analysts forecast that Matthews International Corporation will post 1.73 earnings per share for the current fiscal year.

Matthews International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 26th. Investors of record on Monday, May 12th were issued a $0.25 dividend. The ex-dividend date was Monday, May 12th. This represents a $1.00 annualized dividend and a yield of 3.93%. Matthews International's payout ratio is -39.22%.

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.