Matthews International Corporation $MATW Position Boosted by Gamco Investors INC. ET AL

Key Points

• Gamco Investors INC. ET AL increased its stake in Matthews International Corporation by 3.7%, owning approximately 4.03% of the company worth $27.8 million at the end of the first quarter.
• Matthews International's stock received an upgrade from sell to hold by Wall Street Zen, and analysts have a consensus rating of Buy with a target price of $40.00.
• Despite a revenue of $349.4 million for the quarter, Matthews International reported an EPS of $0.28, missing consensus estimates by $0.05.

Gamco Investors INC. ET AL increased its holdings in Matthews International Corporation (NASDAQ:MATW - Free Report) by 3.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,248,856 shares of the company's stock after buying an additional 44,055 shares during the quarter. Gamco Investors INC. ET AL owned about 4.03% of Matthews International worth $27,775,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in MATW. Central Pacific Bank Trust Division acquired a new stake in Matthews International in the first quarter worth approximately $149,000. Gotham Asset Management LLC acquired a new stake in Matthews International in the fourth quarter worth approximately $260,000. Graham Capital Management L.P. acquired a new stake in Matthews International in the fourth quarter worth approximately $286,000. Maven Securities LTD acquired a new stake in Matthews International in the first quarter worth approximately $334,000. Finally, Nebula Research & Development LLC lifted its position in 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 purchasing an additional 2,888 shares during the period. 83.08% of the stock is owned by institutional investors.

Analyst Ratings Changes

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

Matthews International Trading Down 2.0%

Shares of NASDAQ:MATW opened at $24.45 on Tuesday. The company's 50-day moving average price is $24.01 and its two-hundred day moving average price is $22.71. 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 one year low of $18.50 and a one year high of $32.24. The stock has a market capitalization of $752.82 million, a PE ratio of -11.53 and a beta of 1.24.

Matthews International (NASDAQ:MATW - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.28 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.33 by ($0.05). Matthews International had a negative net margin of 4.01% and a positive return on equity of 9.15%. The firm had revenue of $349.40 million during the quarter, compared to the consensus estimate of $321.95 million. On average, equities analysts forecast that Matthews International Corporation 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, August 25th. Investors of record on Monday, August 11th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.00 annualized dividend and a yield of 4.1%. Matthews International's dividend payout ratio is presently -47.17%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.