Matthews International Corporation (NASDAQ:MATW) Stake Increased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC grew its stake in shares of Matthews International Corporation (NASDAQ:MATW - Free Report) by 19.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 929,753 shares of the company's stock after acquiring an additional 148,161 shares during the period. Allspring Global Investments Holdings LLC owned about 3.00% of Matthews International worth $20,352,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Quadrant Capital Group LLC grew its stake in Matthews International by 551.8% in the 4th quarter. Quadrant Capital Group LLC now owns 906 shares of the company's stock valued at $25,000 after acquiring an additional 767 shares during the last quarter. Sterling Capital Management LLC lifted its holdings 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 valued at $26,000 after purchasing an additional 845 shares in the last quarter. Smartleaf Asset Management LLC grew its position in shares of Matthews International by 1,865.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 4,500 shares of the company's stock valued at $125,000 after purchasing an additional 4,271 shares during the last quarter. AlphaQuest LLC acquired a new stake in shares of Matthews International in the fourth quarter valued at approximately $154,000. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Matthews International during the 4th quarter worth approximately $155,000. 83.08% of the stock is currently owned by institutional investors and hedge funds.

Matthews International Price Performance

Shares of Matthews International stock traded down $0.13 during trading on Friday, hitting $25.48. 142,779 shares of the company were exchanged, compared to its average volume of 204,468. The firm has a 50 day moving average price of $21.56 and a 200 day moving average price of $23.91. The stock has a market capitalization of $789.99 million, a price-to-earnings ratio of -9.99 and a beta of 1.27. The company has a quick ratio of 1.09, a current ratio of 1.59 and a debt-to-equity ratio of 2.00. Matthews International Corporation has a fifty-two week low of $18.50 and a fifty-two week high of $32.24.

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 the consensus estimate of $0.36 by ($0.02). The company had revenue of $427.63 million during the quarter, compared to analysts' expectations of $435.62 million. Matthews International had a negative net margin of 4.62% and a positive return on equity of 11.04%. On average, equities analysts expect that Matthews International Corporation will post 1.73 earnings per share for the current fiscal year.

Matthews International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, May 26th. Shareholders of record on Monday, May 12th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, May 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.93%. Matthews International's dividend payout ratio (DPR) is presently -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.