Charles Schwab Investment Management Inc. Raises Stock Holdings 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. boosted its position in shares of Matthews International Corporation (NASDAQ:MATW - Free Report) by 11.7% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 370,457 shares of the company's stock after acquiring an additional 38,740 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.19% of Matthews International worth $8,239,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Central Pacific Bank Trust Division purchased a new position in shares of Matthews International in the 1st quarter valued at about $149,000. Gotham Asset Management LLC acquired a new position in shares of Matthews International during the 4th quarter worth approximately $260,000. Graham Capital Management L.P. acquired a new position in shares of Matthews International during the 4th quarter worth approximately $286,000. Nebula Research & Development LLC boosted its holdings in shares of Matthews International by 25.9% during the 4th quarter. Nebula Research & Development LLC now owns 14,035 shares of the company's stock worth $388,000 after purchasing an additional 2,888 shares during the last quarter. Finally, Squarepoint Ops LLC acquired a new position in shares of Matthews International during the 4th quarter worth approximately $428,000. Hedge funds and other institutional investors own 83.08% of the company's stock.

Matthews International Stock Performance

NASDAQ MATW opened at $24.45 on Tuesday. The company has a quick ratio of 0.98, a current ratio of 1.66 and a debt-to-equity ratio of 1.35. Matthews International Corporation has a 52-week low of $18.50 and a 52-week high of $32.24. The business's 50-day moving average price is $24.01 and its 200 day moving average price is $22.71. The firm has a market cap of $752.82 million, a P/E ratio of -11.53 and a beta of 1.24.

Matthews International (NASDAQ:MATW - Get Free Report) last released its quarterly earnings results 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 company had revenue of $349.40 million for the quarter, compared to analysts' expectations of $321.95 million. On average, equities research analysts expect that Matthews International Corporation will post 1.73 earnings per share for the current year.

Matthews International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 25th. Shareholders of record on Monday, August 11th were issued 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 payout ratio is currently -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 note on Saturday, August 9th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and a consensus 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.

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