Gamco Investors INC. ET AL Purchases 44,055 Shares of Matthews International Corporation $MATW

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 grew its position in shares of Matthews International Corporation (NASDAQ:MATW - Free Report) by 3.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. 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 4.03% of Matthews International worth $27,775,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of MATW. Ameriprise Financial Inc. raised its holdings in shares of Matthews International by 10.0% in the 4th quarter. Ameriprise Financial Inc. now owns 1,854,343 shares of the company's stock worth $51,328,000 after purchasing an additional 168,970 shares during the period. Allspring Global Investments Holdings LLC grew its stake in Matthews International by 19.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 929,753 shares of the company's stock valued at $20,352,000 after buying an additional 148,161 shares in the last quarter. Palisade Capital Management LP grew its stake in Matthews International by 12.0% in the 1st quarter. Palisade Capital Management LP now owns 654,062 shares of the company's stock valued at $14,546,000 after buying an additional 70,078 shares in the last quarter. Boston Partners grew its position in shares of Matthews International by 1,696.7% during the 1st quarter. Boston Partners now owns 455,475 shares of the company's stock valued at $10,126,000 after purchasing an additional 430,125 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position 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 valued at $8,239,000 after purchasing an additional 38,740 shares in the last quarter. Institutional investors own 83.08% of the company's stock.

Wall Street Analysts Forecast Growth

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

Matthews International Price Performance

NASDAQ:MATW traded up $0.38 during midday trading on Friday, hitting $24.57. The company had a trading volume of 203,689 shares, compared to its average volume of 209,345. Matthews International Corporation has a 52-week low of $18.50 and a 52-week high of $32.24. The stock's fifty day moving average price is $24.25 and its 200-day moving average price is $22.71. The company has a market capitalization of $756.51 million, a PE ratio of -11.59 and a beta of 1.24. The company has a quick ratio of 0.98, a current ratio of 1.66 and a debt-to-equity ratio of 1.35.

Matthews International (NASDAQ:MATW - Get Free Report) last posted its quarterly 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 business had revenue of $349.40 million during the quarter, compared to the consensus estimate of $321.95 million. Matthews International had a positive return on equity of 9.15% and a negative net margin of 4.01%. As a group, research analysts expect that Matthews International Corporation will post 1.73 earnings per share for the current year.

Matthews International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 25th. Stockholders of record on Monday, August 11th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend was Monday, August 11th. Matthews International's dividend payout ratio is -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.