Matthews International Co. (NASDAQ:MATW) Shares Sold by Millennium Management LLC

Millennium Management LLC decreased its position in Matthews International Co. (NASDAQ:MATW - Free Report) by 90.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,783 shares of the company's stock after selling 138,545 shares during the period. Millennium Management LLC's holdings in Matthews International were worth $409,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Quadrant Capital Group LLC boosted its position in Matthews International by 551.8% in the 4th quarter. Quadrant Capital Group LLC now owns 906 shares of the company's stock valued at $25,000 after buying an additional 767 shares during the period. Sterling Capital Management LLC raised its stake in shares of Matthews International by 797.2% in the fourth 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 boosted its holdings in Matthews International by 1,865.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 4,500 shares of the company's stock valued at $125,000 after purchasing an additional 4,271 shares during the period. AlphaQuest LLC purchased a new stake in Matthews International during the 4th quarter worth about $154,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in Matthews International during the 4th quarter worth about $155,000. Hedge funds and other institutional investors own 83.08% of the company's stock.

Matthews International Stock Down 3.3%

NASDAQ MATW traded down $0.74 during trading on Friday, reaching $21.85. 145,499 shares of the company's stock were exchanged, compared to its average volume of 206,672. The company has a 50 day moving average price of $20.75 and a two-hundred day moving average price of $24.69. The stock has a market cap of $677.55 million, a P/E ratio of -11.09 and a beta of 1.25. Matthews International Co. has a 1 year low of $18.50 and a 1 year high of $32.24. 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 released its quarterly earnings results on Wednesday, April 30th. The company reported $0.34 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts' expectations of $435.62 million. On average, equities research analysts anticipate that Matthews International Co. will post 1.73 EPS for the current fiscal year.

Matthews International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 26th. Stockholders of record on Monday, May 12th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, May 12th. This represents a $1.00 annualized dividend and a dividend yield of 4.58%. 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.