Invenomic Capital Management LP Acquires Shares of 185,173 Matthews International Corporation $MATW

Key Points

• Invenomic Capital Management LP acquired a new stake in Matthews International Corporation by purchasing 185,173 shares, valued at approximately $4,118,000, representing about 0.60% of the company.
• The company reported earnings per share of $0.28 for the last quarter, which was below analysts' expectations of $0.33, despite revenue surpassing estimates at $349.4 million.
• Matthews International announced a quarterly dividend of $0.25 per share, translating to an annualized dividend of $1.00 and a yield of 4.0%.

Invenomic Capital Management LP acquired a new position in Matthews International Corporation (NASDAQ:MATW - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 185,173 shares of the company's stock, valued at approximately $4,118,000. Invenomic Capital Management LP owned 0.60% of Matthews International at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Central Pacific Bank Trust Division bought a new stake in Matthews International in the 1st quarter valued at $149,000. Gotham Asset Management LLC bought a new position in shares of Matthews International during the fourth quarter valued at approximately $260,000. Graham Capital Management L.P. bought a new position in shares of Matthews International during the fourth quarter valued at approximately $286,000. Maven Securities LTD bought a new position in shares of Matthews International during the first quarter valued at approximately $334,000. Finally, Squarepoint Ops LLC bought a new position in shares of Matthews International during the fourth quarter valued at approximately $428,000. Institutional investors own 83.08% of the company's stock.

Matthews International Stock Up 1.1%

Shares of Matthews International stock traded up $0.28 during trading hours on Thursday, hitting $25.00. The company had a trading volume of 35,536 shares, compared to its average volume of 235,453. The company has a market cap of $769.87 million, a P/E ratio of -11.78 and a beta of 1.27. The company's 50-day moving average is $24.44 and its two-hundred day moving average is $22.70. 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 Corporation has a twelve month low of $18.50 and a twelve month high of $32.24.

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

Matthews International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 25th. Investors of record on Monday, August 11th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date was Monday, August 11th. Matthews International's payout ratio is -47.17%.

Analyst Upgrades and Downgrades

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