Matthews International Co. (NASDAQ:MATW) Shares Purchased by Bank of America Corp DE

Bank of America Corp DE lifted its holdings in Matthews International Co. (NASDAQ:MATW - Free Report) by 21.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 119,025 shares of the company's stock after buying an additional 20,809 shares during the quarter. Bank of America Corp DE owned approximately 0.38% of Matthews International worth $3,295,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in 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 during the last quarter. Sterling Capital Management LLC lifted its holdings in Matthews International by 797.2% during the fourth quarter. Sterling Capital Management LLC now owns 951 shares of the company's stock valued at $26,000 after purchasing an additional 845 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in Matthews International by 1,865.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,500 shares of the company's stock worth $125,000 after buying an additional 4,271 shares in the last quarter. AlphaQuest LLC bought a new stake in Matthews International during the 4th quarter valued at approximately $154,000. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Matthews International in the fourth quarter worth $155,000. Institutional investors own 83.08% of the company's stock.

Matthews International Price Performance

Shares of MATW traded up $0.33 during mid-day trading on Wednesday, hitting $22.48. 227,004 shares of the stock were exchanged, compared to its average volume of 205,229. The firm has a 50-day moving average of $20.58 and a two-hundred day moving average of $24.85. Matthews International Co. has a 52-week low of $18.50 and a 52-week high of $32.24. The company has a market cap of $697.08 million, a PE ratio of -11.41 and a beta of 1.20. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.96 and a current ratio of 1.58.

Matthews International (NASDAQ:MATW - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.36 by ($0.02). Matthews International had a positive return on equity of 12.88% and a negative net margin of 3.48%. The company had revenue of $427.63 million during the quarter, compared to the consensus estimate of $435.62 million. On average, equities analysts predict that Matthews International Co. will post 1.73 earnings per share for the current year.

Matthews International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 26th. Investors of record on Monday, May 12th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.45%. The ex-dividend date of this dividend was Monday, May 12th. Matthews International's dividend payout ratio (DPR) is presently -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.