GAMMA Investing LLC Acquires 23,530 Shares of Matthews International Corporation (NASDAQ:MATW)

GAMMA Investing LLC lifted its position in shares of Matthews International Corporation (NASDAQ:MATW - Free Report) by 3,527.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,197 shares of the company's stock after acquiring an additional 23,530 shares during the quarter. GAMMA Investing LLC owned approximately 0.08% of Matthews International worth $538,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Quadrant Capital Group LLC boosted its holdings in shares of Matthews International by 551.8% during 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 in the last quarter. Sterling Capital Management LLC boosted its holdings in shares of Matthews International by 797.2% during the 4th quarter. Sterling Capital Management LLC now owns 951 shares of the company's stock valued at $26,000 after acquiring an additional 845 shares in the last quarter. Smartleaf Asset Management LLC raised its position in Matthews International by 1,865.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 4,500 shares of the company's stock worth $125,000 after purchasing an additional 4,271 shares during the last quarter. Central Pacific Bank Trust Division bought a new position in Matthews International during the 1st quarter worth $149,000. Finally, AlphaQuest LLC bought a new position in Matthews International during the 4th quarter worth $154,000. Institutional investors and hedge funds own 83.08% of the company's stock.

Matthews International Trading Down 1.2%

NASDAQ:MATW traded down $0.26 during trading hours on Friday, hitting $21.03. 307,279 shares of the company were exchanged, compared to its average volume of 203,421. The stock has a market capitalization of $652.14 million, a price-to-earnings ratio of -8.25 and a beta of 1.24. The company has a current ratio of 1.59, a quick ratio of 1.09 and a debt-to-equity ratio of 2.00. Matthews International Corporation has a one year low of $18.50 and a one year high of $32.24. The company has a fifty day simple moving average of $20.91 and a 200 day simple moving average of $24.28.

Matthews International (NASDAQ:MATW - Get Free Report) last announced its earnings results 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 for the quarter, compared to the consensus estimate of $435.62 million. Matthews International had a positive return on equity of 11.04% and a negative net margin of 4.62%. Sell-side analysts expect that Matthews International Corporation will post 1.73 EPS for the current fiscal year.

Matthews International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 26th. Investors of record on Monday, May 12th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.76%. The ex-dividend date of this dividend was Monday, May 12th. Matthews International's dividend payout ratio is currently -39.22%.

Matthews International 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.