Penn Mutual Asset Management Acquires New Stake in Matthews International Corporation $MATW

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 stake in shares of Matthews International Corporation (NASDAQ:MATW - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 19,000 shares of the company's stock, valued at approximately $423,000. Penn Mutual Asset Management owned approximately 0.06% of Matthews International as of its most recent SEC filing.

Several other large investors have also bought and sold shares of MATW. JPMorgan Chase & Co. raised its position in Matthews International by 46.7% during the 4th quarter. JPMorgan Chase & Co. now owns 73,771 shares of the company's stock worth $2,042,000 after purchasing an additional 23,492 shares during the last quarter. Wells Fargo & Company MN raised its position in Matthews International by 27.6% during the 4th quarter. Wells Fargo & Company MN now owns 19,479 shares of the company's stock worth $539,000 after purchasing an additional 4,217 shares during the last quarter. Russell Investments Group Ltd. raised its position in Matthews International by 1,718.7% during the 4th quarter. Russell Investments Group Ltd. now owns 85,662 shares of the company's stock worth $2,371,000 after purchasing an additional 80,952 shares during the last quarter. Invesco Ltd. raised its position in Matthews International by 13.9% during the 4th quarter. Invesco Ltd. now owns 278,782 shares of the company's stock worth $7,717,000 after purchasing an additional 34,062 shares during the last quarter. Finally, Sterling Capital Management LLC raised its position in 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 purchasing an additional 845 shares during the last quarter. 83.08% of the stock is owned by institutional investors.

Matthews International Stock Performance

Shares of NASDAQ MATW traded up $1.17 during midday trading on Friday, reaching $24.90. The company's stock had a trading volume of 91,653 shares, compared to its average volume of 239,223. Matthews International Corporation has a 12-month low of $18.50 and a 12-month high of $32.24. The firm has a 50 day moving average price of $23.89 and a 200-day moving average price of $22.81. The stock has a market capitalization of $766.67 million, a P/E ratio of -11.74 and a beta of 1.24. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.66 and a quick ratio of 0.98.

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). Matthews International had a positive return on equity of 9.15% and a negative net margin of 4.01%.The business had revenue of $349.40 million during the quarter, compared to analysts' expectations of $321.95 million. As a group, equities analysts predict that Matthews International Corporation will post 1.73 earnings per share for the current year.

Matthews International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 25th. Investors of record on Monday, August 11th will be paid a $0.25 dividend. The ex-dividend date is Monday, August 11th. This represents a $1.00 annualized dividend and a yield of 4.0%. Matthews International's dividend payout ratio 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 analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of "Buy" and an average target price 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.