Matthews International Corporation (NASDAQ:MATW) Shares Bought by Palisade Capital Management LP

Palisade Capital Management LP grew its stake in Matthews International Corporation (NASDAQ:MATW - Free Report) by 12.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 654,062 shares of the company's stock after acquiring an additional 70,078 shares during the quarter. Palisade Capital Management LP owned 2.11% of Matthews International worth $14,546,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Quadrant Capital Group LLC increased its position in Matthews International by 551.8% during the fourth quarter. Quadrant Capital Group LLC now owns 906 shares of the company's stock valued at $25,000 after acquiring an additional 767 shares during the last quarter. Sterling Capital Management LLC grew its position 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 purchasing an additional 845 shares in the last quarter. Smartleaf Asset Management LLC grew its position in shares of Matthews International by 1,865.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 4,500 shares of the company's stock worth $125,000 after purchasing an additional 4,271 shares in the last quarter. AlphaQuest LLC purchased a new stake in shares of Matthews International during the fourth quarter worth about $154,000. Finally, KLP Kapitalforvaltning AS bought a new position in Matthews International during the fourth quarter valued at approximately $155,000. 83.08% of the stock is owned by institutional investors.

Matthews International Trading Down 0.5%

Shares of NASDAQ:MATW traded down $0.13 during trading on Friday, hitting $25.48. The company had a trading volume of 142,779 shares, compared to its average volume of 204,798. The stock has a market cap of $790.01 million, a price-to-earnings ratio of -9.99 and a beta of 1.27. Matthews International Corporation has a one year low of $18.50 and a one year high of $32.24. The company has a fifty day simple moving average of $21.65 and a two-hundred day simple moving average of $23.83. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.59 and a quick ratio of 1.09.

Matthews International (NASDAQ:MATW - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.36 by ($0.02). The business had revenue of $427.63 million for the quarter, compared to the consensus estimate of $435.62 million. Matthews International had a positive return on equity of 11.04% and a negative net margin of 4.62%. As a group, equities analysts forecast that Matthews International Corporation will post 1.73 earnings per share for the current year.

Matthews International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, May 26th. Stockholders of record on Monday, May 12th were issued a $0.25 dividend. The ex-dividend date was Monday, May 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.93%. Matthews International's dividend 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.