Bank of America Corp DE Acquires 20,809 Shares of Matthews International Co. (NASDAQ:MATW)

Bank of America Corp DE lifted its position in Matthews International Co. (NASDAQ:MATW - Free Report) by 21.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 119,025 shares of the company's stock after acquiring an additional 20,809 shares during the period. Bank of America Corp DE owned about 0.38% of Matthews International worth $3,295,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Ameriprise Financial Inc. increased its position in shares of Matthews International by 10.0% in the fourth 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 in the last quarter. Northern Trust Corp increased its position in shares of Matthews International by 8.7% in the fourth 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 in the last quarter. Barington Capital Group L.P. increased its position in shares of Matthews International by 23.9% in the fourth quarter. Barington Capital Group L.P. now owns 563,962 shares of the company's stock worth $15,610,000 after acquiring an additional 108,962 shares in the last quarter. Nebula Research & Development LLC increased its position in shares of Matthews International by 25.9% in the fourth quarter. Nebula Research & Development LLC now owns 14,035 shares of the company's stock worth $388,000 after acquiring an additional 2,888 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in shares of Matthews International by 2.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 76,715 shares of the company's stock worth $2,124,000 after acquiring an additional 1,802 shares in the last quarter. 83.08% of the stock is owned by hedge funds and other institutional investors.

Matthews International Stock Down 0.9%

MATW traded down $0.19 on Monday, reaching $21.26. 240,898 shares of the company traded hands, compared to its average volume of 204,183. The stock's 50 day moving average price is $20.64 and its 200-day moving average price is $24.91. 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 $659.25 million, a price-to-earnings ratio of -10.79 and a beta of 1.20. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.58 and a quick ratio of 0.96.

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

Matthews International Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a yield of 4.70%. The ex-dividend date was Monday, May 12th. Matthews International's payout ratio is presently -39.22%.

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.