Northern Trust Corp Purchases 27,348 Shares of Matthews International Co. (NASDAQ:MATW)

Northern Trust Corp raised its stake in shares of Matthews International Co. (NASDAQ:MATW - Free Report) by 8.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 340,785 shares of the company's stock after buying an additional 27,348 shares during the period. Northern Trust Corp owned about 1.10% of Matthews International worth $9,433,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of MATW. Barington Capital Group L.P. boosted its stake in shares of Matthews International by 23.9% during the 4th quarter. Barington Capital Group L.P. now owns 563,962 shares of the company's stock valued at $15,610,000 after buying an additional 108,962 shares during the period. Quinn Opportunity Partners LLC lifted its stake in shares of Matthews International by 100.7% in the 4th quarter. Quinn Opportunity Partners LLC now owns 192,620 shares of the company's stock valued at $5,332,000 after purchasing an additional 96,646 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Matthews International by 1,718.7% in the 4th quarter. Russell Investments Group Ltd. now owns 85,662 shares of the company's stock valued at $2,371,000 after purchasing an additional 80,952 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Matthews International by 10.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 781,592 shares of the company's stock valued at $21,126,000 after purchasing an additional 73,240 shares during the last quarter. Finally, Formula Growth Ltd. acquired a new stake in shares of Matthews International in the 4th quarter valued at $1,329,000. Institutional investors and hedge funds own 83.08% of the company's stock.

Matthews International Stock Up 0.2%

Shares of MATW stock traded up $0.05 on Friday, hitting $20.85. The company's stock had a trading volume of 201,589 shares, compared to its average volume of 200,517. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.58 and a quick ratio of 0.96. Matthews International Co. has a fifty-two week low of $18.50 and a fifty-two week high of $32.24. The firm's fifty day moving average price is $20.81 and its 200-day moving average price is $24.99. The stock has a market capitalization of $646.54 million, a price-to-earnings ratio of -10.58 and a beta of 1.20.

Matthews International (NASDAQ:MATW - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.02). Matthews International had a negative net margin of 3.48% and a positive return on equity of 12.88%. The business had revenue of $427.63 million during the quarter, compared to analyst estimates of $435.62 million. Research analysts anticipate that Matthews International Co. will post 1.73 EPS for the current year.

Matthews International Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, May 26th. Investors of record on Monday, May 12th will be issued a $0.25 dividend. The ex-dividend date is Monday, May 12th. This represents a $1.00 annualized dividend and a yield of 4.80%. Matthews International's dividend payout ratio (DPR) is presently -39.22%.

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.