Invesco Ltd. Decreases Stake in Matthews International Corporation $MATW

Key Points

• Invesco Ltd. reduced its stake in Matthews International Corporation by 15.1%, now owning 0.76% of the company, valued at approximately $5.27 million.
• Matthews International announced a dividend of $0.25 per share, reflecting a 4.2% yield, and has a payout ratio of -47.17%.
• Wall Street analysts have upgraded Matthews International from a "sell" rating to a "hold" rating, with current consensus reflects a rating of "Buy" and a price target of $40.00.

Invesco Ltd. lessened its stake in shares of Matthews International Corporation (NASDAQ:MATW - Free Report) by 15.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 236,734 shares of the company's stock after selling 42,048 shares during the period. Invesco Ltd. owned 0.76% of Matthews International worth $5,265,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Ameriprise Financial Inc. raised its holdings in shares of Matthews International by 10.0% during the 4th quarter. Ameriprise Financial Inc. now owns 1,854,343 shares of the company's stock worth $51,328,000 after acquiring an additional 168,970 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of Matthews International by 19.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 929,753 shares of the company's stock worth $20,352,000 after acquiring an additional 148,161 shares during the period. Palisade Capital Management LP raised its holdings in shares of Matthews International by 12.0% during the 1st quarter. Palisade Capital Management LP now owns 654,062 shares of the company's stock worth $14,546,000 after acquiring an additional 70,078 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Matthews International by 11.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 370,457 shares of the company's stock worth $8,239,000 after acquiring an additional 38,740 shares during the period. Finally, Northern Trust Corp raised its holdings in shares of Matthews International by 8.7% during the 4th quarter. Northern Trust Corp now owns 340,785 shares of the company's stock worth $9,433,000 after acquiring an additional 27,348 shares during the period. Hedge funds and other institutional investors own 83.08% of the company's stock.

Wall Street Analyst Weigh In

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

Matthews International Stock Performance

NASDAQ MATW opened at $23.94 on Thursday. The company has a market cap of $737.11 million, a P/E ratio of -11.29 and a beta of 1.24. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.66 and a quick ratio of 0.98. The stock has a 50-day moving average of $24.12 and a two-hundred day moving average of $22.73. Matthews International Corporation has a 1-year low of $18.50 and a 1-year high of $32.24.

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

Matthews International Dividend Announcement

The company also recently announced 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 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend was Monday, August 11th. Matthews International's payout ratio is currently -47.17%.

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.

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