Boston Partners Increases Position in Matthews International Corporation $MATW

Key Points

• Boston Partners significantly increased its stake in Matthews International Corporation by 1,696.7% in Q1, holding 455,475 shares worth approximately $10.13 million.
• Several institutional investors, including JPMorgan Chase and Wells Fargo, have also boosted their holdings in Matthews International, indicating increased confidence in the company's prospects.
• Matthews International recently reported a quarterly earnings miss with an EPS of $0.28, falling short of the expected $0.33, and announced a quarterly dividend of $0.25 per share, yielding 4.2%.

Boston Partners lifted its position in shares of Matthews International Corporation (NASDAQ:MATW - Free Report) by 1,696.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 455,475 shares of the company's stock after acquiring an additional 430,125 shares during the period. Boston Partners owned about 1.47% of Matthews International worth $10,126,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of MATW. SummerHaven Investment Management LLC lifted its stake in 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 acquiring an additional 514 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of 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 worth $468,000 after buying an additional 593 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of Matthews International by 2.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 25,600 shares of the company's stock worth $569,000 after buying an additional 650 shares during the period. Sterling Capital Management LLC boosted its stake in 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 purchasing an additional 845 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co boosted its stake in 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 purchasing an additional 1,088 shares in the last quarter. Institutional investors own 83.08% of the company's stock.

Matthews International Price Performance

NASDAQ:MATW traded down $0.0080 during trading hours on Thursday, reaching $23.5120. 32,879 shares of the company were exchanged, compared to its average volume of 239,082. The business has a 50 day moving average of $23.87 and a 200 day moving average of $22.84. The company has a market capitalization of $723.93 million, a P/E ratio of -11.09 and a beta of 1.24. Matthews International Corporation has a 1-year low of $18.50 and a 1-year high of $32.24. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.66 and a quick ratio of 0.98.

Matthews International (NASDAQ:MATW - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.28 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.05). Matthews International had a negative net margin of 4.01% and a positive return on equity of 9.15%. The firm had revenue of $349.40 million for the quarter, compared to analyst estimates of $321.95 million. Research analysts forecast that Matthews International Corporation will post 1.73 EPS for the current year.

Matthews International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 25th. Stockholders of record on Monday, August 11th will be 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 is Monday, August 11th. Matthews International's payout ratio is presently -47.17%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded Matthews International from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $40.00.

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.