Charles Schwab Investment Management Inc. Grows Stake in Matthews International Corporation $MATW

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Matthews International Corporation by 11.7%, acquiring an additional 38,740 shares and owning 1.19% of the company, valued at approximately $8.24 million.
• Matthews International reported earnings of $0.28 per share for the recent quarter, falling short of analysts' expectations, but achieved a revenue of $349.4 million compared to a forecast of $321.95 million.
• The company has declared a quarterly dividend of $0.25, offering an annualized yield of 4.1%, with a payout ratio currently at -47.17%.

Charles Schwab Investment Management Inc. lifted its holdings in shares of Matthews International Corporation (NASDAQ:MATW - Free Report) by 11.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 370,457 shares of the company's stock after acquiring an additional 38,740 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.19% of Matthews International worth $8,239,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in MATW. Central Pacific Bank Trust Division bought a new stake in shares of Matthews International during the first quarter worth about $149,000. Gotham Asset Management LLC bought a new stake in shares of Matthews International during the fourth quarter worth about $260,000. Graham Capital Management L.P. bought a new stake in shares of Matthews International during the fourth quarter worth about $286,000. Nebula Research & Development LLC increased its position in shares of Matthews International by 25.9% during the fourth quarter. Nebula Research & Development LLC now owns 14,035 shares of the company's stock worth $388,000 after acquiring an additional 2,888 shares in the last quarter. Finally, Squarepoint Ops LLC bought a new stake in shares of Matthews International during the fourth quarter worth about $428,000. 83.08% of the stock is owned by institutional investors.

Matthews International Stock Up 1.6%

MATW stock traded up $0.38 during trading on Friday, reaching $24.57. The stock had a trading volume of 203,689 shares, compared to its average volume of 205,742. Matthews International Corporation has a one year low of $18.50 and a one year high of $32.24. 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 company's 50 day moving average is $24.25 and its two-hundred day moving average is $22.70. The company has a market capitalization of $756.51 million, a price-to-earnings ratio of -11.59 and a beta of 1.27.

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

Matthews International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 25th. Shareholders of record on Monday, August 11th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend was Monday, August 11th. Matthews International's dividend payout ratio is presently -47.17%.

Wall Street Analysts Forecast Growth

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

About Matthews International

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.