Dimensional Fund Advisors LP Buys 83,860 Shares of Matthews International Corporation $MATW

Key Points

• Dimensional Fund Advisors increased its Matthews International stake by 5.5%, buying 83,860 shares to reach 1.61 million shares, or approximately 5.17% of the company. Institutional investors collectively own 83.08% of MATW.
• Analyst sentiment remains cautious: Weiss Ratings downgraded the stock to “sell,” while Zacks Research and Wall Street Zen moved to “hold.” The consensus rating is “Reduce.”
• Matthews International declared a quarterly dividend of $0.255 per share, equivalent to a $1.02 annualized payout and a 3.6% yield; shares opened at $28.07, near the middle of their 52-week range.

Dimensional Fund Advisors LP lifted its position in Matthews International Corporation (NASDAQ:MATW - Free Report) by 5.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,614,201 shares of the company's stock after buying an additional 83,860 shares during the quarter. Dimensional Fund Advisors LP owned approximately 5.17% of Matthews International worth $41,677,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Matthews International by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,686 shares of the company's stock valued at $393,000 after acquiring an additional 780 shares in the last quarter. Jane Street Group LLC bought a new position in Matthews International in the 1st quarter valued at $1,227,000. Intech Investment Management LLC boosted its holdings in Matthews International by 316.4% in the 1st quarter. Intech Investment Management LLC now owns 59,502 shares of the company's stock valued at $1,323,000 after purchasing an additional 45,212 shares during the period. American Century Companies Inc. grew its position in shares of Matthews International by 7.9% during the 2nd quarter. American Century Companies Inc. now owns 64,988 shares of the company's stock valued at $1,554,000 after purchasing an additional 4,742 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of Matthews International during the 2nd quarter valued at $1,406,000. 83.08% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on MATW. Weiss Ratings downgraded Matthews International from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Wednesday, May 6th. Zacks Research upgraded Matthews International from a "strong sell" rating to a "hold" rating in a research report on Monday, April 6th. Finally, Wall Street Zen lowered Matthews International from a "buy" rating to a "hold" rating in a research note on Sunday, May 10th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Reduce".

Matthews International Trading Up 1.2%

Shares of Matthews International stock opened at $28.07 on Tuesday. Matthews International Corporation has a 1 year low of $21.95 and a 1 year high of $30.93. The firm has a market cap of $875.84 million, a PE ratio of 90.55 and a beta of 1.08. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.64 and a quick ratio of 0.97. The company has a 50 day simple moving average of $26.75 and a two-hundred day simple moving average of $26.61.

Matthews International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, August 10th will be given a dividend of $0.255 per share. The ex-dividend date is Monday, August 10th. This represents a $1.02 annualized dividend and a dividend yield of 3.6%. Matthews International's dividend payout ratio (DPR) is 329.03%.

About Matthews International

Matthews International Corporation NASDAQ: MATW is a diversified industrial company headquartered in Pittsburgh, Pennsylvania. The company operates through two primary business segments—Brand Solutions and Memorialization—offering a broad range of products and services designed to meet the needs of industrial manufacturers, brand marketers and the funeral industry worldwide.

In its Brand Solutions segment, Matthews International provides engraving and digital printing systems, automated finishing equipment, thermal management products and electronics assembly solutions.

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