19,000 Shares in Matthews International Corporation $MATW Acquired by Penn Mutual Asset Management

Key Points

• Penn Mutual Asset Management acquired 19,000 shares of Matthews International Corporation (MATW), valued at approximately $423,000, making up 0.06% of the firm's holdings.
• The company reported a quarterly EPS of $0.28, below the consensus estimate of $0.33, and has a positive return on equity of 9.15% with a negative net margin of 4.01%.
• Matthews International recently announced a quarterly dividend of $0.25, set to be paid on August 25th, representing an annualized dividend yield of 4.2%.

Penn Mutual Asset Management acquired a new position in Matthews International Corporation (NASDAQ:MATW - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 19,000 shares of the company's stock, valued at approximately $423,000. Penn Mutual Asset Management owned 0.06% of Matthews International at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in MATW. JPMorgan Chase & Co. boosted its stake in shares of Matthews International by 46.7% in the 4th quarter. JPMorgan Chase & Co. now owns 73,771 shares of the company's stock valued at $2,042,000 after purchasing an additional 23,492 shares during the last quarter. Wells Fargo & Company MN lifted its stake in shares of Matthews International by 27.6% in the 4th quarter. Wells Fargo & Company MN now owns 19,479 shares of the company's stock valued at $539,000 after purchasing an additional 4,217 shares during the period. 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 period. Invesco Ltd. lifted its stake in Matthews International by 13.9% in the fourth quarter. Invesco Ltd. now owns 278,782 shares of the company's stock valued at $7,717,000 after buying an additional 34,062 shares during the period. Finally, Sterling Capital Management LLC boosted its holdings in shares of Matthews International by 797.2% during the 4th quarter. Sterling Capital Management LLC now owns 951 shares of the company's stock worth $26,000 after buying an additional 845 shares in the last quarter. Institutional investors and hedge funds own 83.08% of the company's stock.

Matthews International Stock Up 0.9%

Shares of MATW stock traded up $0.21 during trading hours on Thursday, reaching $23.73. The company had a trading volume of 195,301 shares, compared to its average volume of 240,166. Matthews International Corporation has a 12 month low of $18.50 and a 12 month high of $32.24. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.66 and a quick ratio of 0.98. The business has a fifty day simple moving average of $23.87 and a 200-day simple moving average of $22.84. The company has a market cap of $730.65 million, a price-to-earnings ratio of -11.19 and a beta of 1.24.

Matthews International (NASDAQ:MATW - Get Free Report) last announced its quarterly earnings results 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). The company had revenue of $349.40 million for the quarter, compared to the consensus estimate 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 expect that Matthews International Corporation will post 1.73 earnings per share for the current fiscal year.

Matthews International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 25th. Investors of record on Monday, August 11th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend is Monday, August 11th. Matthews International's dividend payout ratio (DPR) is presently -47.17%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised 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, Matthews International presently has a consensus rating of "Buy" and an average price target of $40.00.

Matthews International 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.