Maven Securities LTD Makes New Investment in 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 purchased a new position in shares of Matthews International Corporation (NASDAQ:MATW - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 15,000 shares of the company's stock, valued at approximately $334,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Penn Mutual Asset Management bought a new position in Matthews International in the first quarter worth $423,000. American Century Companies Inc. lifted its position in Matthews International by 14.1% in the first quarter. American Century Companies Inc. now owns 60,246 shares of the company's stock worth $1,340,000 after purchasing an additional 7,450 shares during the period. Boston Partners lifted its position in Matthews International by 1,696.7% in the first quarter. Boston Partners now owns 455,475 shares of the company's stock worth $10,126,000 after purchasing an additional 430,125 shares during the period. Russell Investments Group Ltd. lifted its position in Matthews International by 81.0% in the first quarter. Russell Investments Group Ltd. now owns 155,018 shares of the company's stock worth $3,448,000 after purchasing an additional 69,356 shares during the period. Finally, Public Sector Pension Investment Board lifted its position in Matthews International by 28.9% in the first quarter. Public Sector Pension Investment Board now owns 98,245 shares of the company's stock worth $2,185,000 after purchasing an additional 22,006 shares during the period. 83.08% of the stock is owned by institutional investors.

Matthews International Price Performance

Matthews International stock traded down $0.3950 during mid-day trading on Monday, hitting $24.5650. 31,791 shares of the company were exchanged, compared to its average volume of 238,596. 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 business has a fifty day moving average of $23.96 and a 200 day moving average of $22.73. Matthews International Corporation has a 1-year low of $18.50 and a 1-year high of $32.24. The company has a market capitalization of $756.36 million, a PE ratio of -11.59 and a beta of 1.24.

Matthews International (NASDAQ:MATW - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $0.28 earnings per share for the quarter, missing analysts' consensus estimates of $0.33 by ($0.05). The business had revenue of $349.40 million during the quarter, compared to analyst estimates of $321.95 million. Matthews International had a negative net margin of 4.01% and a positive return on equity of 9.15%. As a group, sell-side analysts expect that Matthews International Corporation will post 1.73 earnings per share for the current year.

Matthews International Announces Dividend

The business 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 dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, August 11th. This represents a $1.00 dividend on an annualized basis and a yield of 4.1%. Matthews International's dividend payout ratio is currently -47.17%.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised 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, the stock 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.