Maven Securities LTD Acquires Shares of 15,000 Matthews International Corporation $MATW

Key Points

• Maven Securities LTD invested approximately $334,000 in Matthews International Corporation by acquiring 15,000 shares during the first quarter.
• Matthews International reported earnings per share of $0.28, falling short of expectations, while its revenue of $349.4 million surpassed analysts' predictions.
• The company announced a quarterly dividend of $0.25 per share, resulting in an annualized dividend yield of 4.2%.

Maven Securities LTD acquired a new stake in shares of Matthews International Corporation (NASDAQ:MATW - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 15,000 shares of the company's stock, valued at approximately $334,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SummerHaven Investment Management LLC grew its holdings in Matthews International by 1.6% in the 1st quarter. SummerHaven Investment Management LLC now owns 32,663 shares of the company's stock valued at $726,000 after buying an additional 514 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Matthews International by 3.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,906 shares of the company's stock worth $468,000 after acquiring an additional 593 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Matthews International by 2.6% in the first quarter. PNC Financial Services Group Inc. now owns 25,600 shares of the company's stock worth $569,000 after acquiring an additional 650 shares during the last quarter. Sterling Capital Management LLC grew its holdings in 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 purchasing an additional 845 shares during the period. Finally, CANADA LIFE ASSURANCE Co grew its holdings in Matthews International by 3.6% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 31,156 shares of the company's stock valued at $862,000 after purchasing an additional 1,088 shares during the period. 83.08% of the stock is owned by hedge funds and other institutional investors.

Matthews International Stock Up 5.2%

Matthews International stock traded up $1.23 during midday trading on Friday, hitting $24.96. 199,214 shares of the company were exchanged, compared to its average volume of 212,395. The company has a market cap of $768.52 million, a PE ratio of -11.77 and a beta of 1.24. Matthews International Corporation has a fifty-two week low of $18.50 and a fifty-two week high of $32.24. The company's fifty day moving average price is $23.96 and its 200-day moving average price is $22.80. 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 (NASDAQ:MATW - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analyst estimates of $321.95 million. On average, research analysts predict that Matthews International Corporation will post 1.73 EPS for the current fiscal year.

Matthews International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 25th. Shareholders of record on Monday, August 11th will be issued a $0.25 dividend. The ex-dividend date is Monday, August 11th. This represents a $1.00 dividend on an annualized basis and a yield of 4.0%. Matthews International's payout ratio is currently -47.17%.

Analysts Set New Price Targets

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

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.