Nuveen Asset Management LLC Increases Position in Matthews International Co. (NASDAQ:MATW)

Nuveen Asset Management LLC boosted its position in shares of Matthews International Co. (NASDAQ:MATW - Free Report) by 43.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 117,263 shares of the company's stock after acquiring an additional 35,425 shares during the period. Nuveen Asset Management LLC owned about 0.38% of Matthews International worth $3,246,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Matthews International by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 3,461,134 shares of the company's stock worth $95,804,000 after acquiring an additional 18,425 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in Matthews International by 10.0% during the 4th quarter. Ameriprise Financial Inc. now owns 1,854,343 shares of the company's stock worth $51,328,000 after acquiring an additional 168,970 shares in the last quarter. Phoenix Financial Ltd. grew its holdings in Matthews International by 1.9% during the 4th quarter. Phoenix Financial Ltd. now owns 1,523,362 shares of the company's stock worth $42,167,000 after acquiring an additional 28,189 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Matthews International by 10.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 781,592 shares of the company's stock worth $21,126,000 after acquiring an additional 73,240 shares in the last quarter. Finally, Barington Capital Group L.P. lifted its position 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 worth $15,610,000 after buying an additional 108,962 shares during the last quarter. Institutional investors and hedge funds own 83.08% of the company's stock.

Matthews International Stock Down 1.4%

Shares of Matthews International stock traded down $0.32 during trading hours on Thursday, hitting $22.16. The company had a trading volume of 238,834 shares, compared to its average volume of 205,678. The company's 50-day moving average is $20.58 and its two-hundred day moving average is $24.84. Matthews International Co. has a twelve month low of $18.50 and a twelve month high of $32.24. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.58 and a quick ratio of 0.96. The company has a market cap of $687.16 million, a P/E ratio of -11.25 and a beta of 1.20.

Matthews International (NASDAQ:MATW - Get Free Report) last issued its earnings results 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 company had revenue of $427.63 million during the quarter, compared to analyst estimates of $435.62 million. Analysts anticipate that Matthews International Co. will post 1.73 earnings per share for the current fiscal year.

Matthews International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 26th. Shareholders of record on Monday, May 12th were given a dividend of $0.25 per share. The ex-dividend date was Monday, May 12th. This represents a $1.00 dividend on an annualized basis and a yield of 4.51%. Matthews International's payout ratio is currently -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.