Matthews International Corporation $MATW Holdings Decreased by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. reduced its stake in Matthews International Corporation (MATW) by 6.3%, holding approximately 10.46% of the company worth around $72.1 million after selling 217,320 shares.
• Matthews International stock increased by 5.2%, with a market capitalization of $768.54 million, despite reporting a negative net margin of 4.01% for the last quarter.
• The company announced a quarterly dividend of $0.25, equating to an annual yield of 4.0%, while maintaining a dividend payout ratio of -47.17%.

Vanguard Group Inc. trimmed its position in shares of Matthews International Corporation (NASDAQ:MATW - Free Report) by 6.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,243,814 shares of the company's stock after selling 217,320 shares during the quarter. Vanguard Group Inc. owned approximately 10.46% of Matthews International worth $72,142,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MATW. Sterling Capital Management LLC grew its holdings in shares of Matthews International by 797.2% during the fourth quarter. Sterling Capital Management LLC now owns 951 shares of the company's stock worth $26,000 after buying an additional 845 shares in the last quarter. Central Pacific Bank Trust Division acquired a new position in shares of Matthews International during the 1st quarter valued at about $149,000. Gotham Asset Management LLC acquired a new position in Matthews International in the fourth quarter valued at about $260,000. Graham Capital Management L.P. acquired a new position in Matthews International in the fourth quarter valued at about $286,000. 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 valued at $388,000 after buying an additional 2,888 shares during the last quarter. Hedge funds and other 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 note on Saturday, August 9th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $40.00.

Matthews International Price Performance

Shares of Matthews International stock traded up $0.38 on Friday, hitting $24.57. The company's stock 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 company has a quick ratio of 0.98, a current ratio of 1.66 and a debt-to-equity ratio of 1.35. The firm has a fifty day moving average price of $24.25 and a 200-day moving average price of $22.72. The company has a market capitalization of $756.51 million, a P/E ratio of -11.59 and a beta of 1.24.

Matthews International (NASDAQ:MATW - Get Free Report) last released 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). The firm had revenue of $349.40 million during the quarter, compared to analysts' expectations of $321.95 million. Matthews International had a negative net margin of 4.01% and a positive return on equity of 9.15%. On average, equities research analysts expect that Matthews International Corporation will post 1.73 earnings per share for the current fiscal year.

Matthews International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 25th. Stockholders of record on Monday, August 11th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.00 annualized dividend and a dividend yield of 4.1%. Matthews International's dividend payout ratio (DPR) is presently -47.17%.

Matthews International Company 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.