Needham Investment Management LLC Invests $1.06 Million in Matthews International Corporation $MATW

Key Points

• Needham Investment Management LLC acquired 47,500 shares of Matthews International Corporation valued at approximately $1,056,000, increasing its stake to about 0.15% of the company.
• Matthews International reported a Q3 earnings per share of $0.28, missing analysts' estimates, while the company declared a quarterly dividend of $0.25 per share, reflecting a 4.0% yield.
• Analysts have upgraded Matthews International from a "sell" to a "hold" rating, with a consensus price target of $40.00, indicating positive sentiment towards the stock's future performance.

Needham Investment Management LLC acquired a new position in Matthews International Corporation (NASDAQ:MATW - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 47,500 shares of the company's stock, valued at approximately $1,056,000. Needham Investment Management LLC owned about 0.15% of Matthews International at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Central Pacific Bank Trust Division bought a new stake in shares of Matthews International during the 1st quarter valued at $149,000. Gotham Asset Management LLC bought a new stake in shares of Matthews International during the 4th quarter valued at $260,000. Graham Capital Management L.P. bought a new stake in shares of Matthews International during the 4th quarter valued at $286,000. Maven Securities LTD bought a new stake in shares of Matthews International during the 1st quarter valued at $334,000. Finally, Squarepoint Ops LLC bought a new stake in shares of Matthews International during the 4th quarter valued at $428,000. Institutional investors own 83.08% of the company's stock.

Matthews International Stock Up 1.3%

NASDAQ MATW traded up $0.32 on Thursday, reaching $25.04. The company had a trading volume of 47,063 shares, compared to its average volume of 235,529. The firm has a market capitalization of $771.10 million, a price-to-earnings ratio of -11.80 and a beta of 1.27. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.98 and a current ratio of 1.66. Matthews International Corporation has a 1-year low of $18.50 and a 1-year high of $32.24. The company's fifty day moving average is $24.44 and its 200-day moving average is $22.70.

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 company had revenue of $349.40 million during the quarter, compared to analyst estimates of $321.95 million. Matthews International had a positive return on equity of 9.15% and a negative net margin of 4.01%. On average, research analysts forecast that Matthews International Corporation will post 1.73 earnings per share for the current fiscal year.

Matthews International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 25th. Investors of record on Monday, August 11th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.00 dividend on an annualized basis and a yield of 4.0%. Matthews International's dividend payout ratio is presently -47.17%.

Analyst Ratings Changes

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 equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Matthews International presently has an average rating of "Buy" and an average price target 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.