Phoenix Financial Ltd. Sells 1,481,201 Shares of Matthews International Corporation (NASDAQ:MATW)

Key Points

• Phoenix Financial Ltd. reduced its stake in Matthews International Corporation by 97.2% in the first quarter, now owning 0.14% of the company valued at $942,000.
• Matthews International's recent quarterly earnings reported an EPS of $0.34, missing analysts' estimates, with revenue also falling short at $427.63 million.
• The company declared a quarterly dividend of $0.25 per share, which represents an annual yield of 4.05% and indicates a payout ratio of -39.22%.

Phoenix Financial Ltd. reduced its stake in Matthews International Corporation (NASDAQ:MATW - Free Report) by 97.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 42,161 shares of the company's stock after selling 1,481,201 shares during the quarter. Phoenix Financial Ltd. owned approximately 0.14% of Matthews International worth $942,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of MATW. Ameriprise Financial Inc. lifted its holdings in shares of Matthews International by 10.0% during the fourth quarter. Ameriprise Financial Inc. now owns 1,854,343 shares of the company's stock worth $51,328,000 after buying an additional 168,970 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Matthews International by 19.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 929,753 shares of the company's stock valued at $20,352,000 after purchasing an additional 148,161 shares during the period. Barington Capital Group L.P. increased its position in shares of Matthews International by 23.9% during the fourth quarter. Barington Capital Group L.P. now owns 563,962 shares of the company's stock valued at $15,610,000 after purchasing an additional 108,962 shares during the period. Quinn Opportunity Partners LLC increased its position in shares of Matthews International by 100.7% during the fourth 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 period. Finally, Russell Investments Group Ltd. increased its position in shares of Matthews International by 1,718.7% during the fourth 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. 83.08% of the stock is currently owned by institutional investors and hedge funds.

Matthews International Stock Performance

Shares of MATW traded down $0.16 on Tuesday, reaching $23.87. 119,832 shares of the stock traded hands, compared to its average volume of 242,511. The firm has a market cap of $740.15 million, a price-to-earnings ratio of -9.31 and a beta of 1.27. The company has a debt-to-equity ratio of 2.00, a current ratio of 1.59 and a quick ratio of 1.09. Matthews International Corporation has a 12 month low of $18.50 and a 12 month high of $32.24. The stock's 50-day moving average price is $23.15 and its 200-day moving average price is $23.47.

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 analysts' consensus estimates of $0.36 by ($0.02). The firm had revenue of $427.63 million for the quarter, compared to the consensus estimate of $435.62 million. Matthews International had a negative net margin of 4.62% and a positive return on equity of 11.04%. Equities analysts forecast that Matthews International Corporation will post 1.73 EPS for the current fiscal year.

Matthews International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 26th. Shareholders of record on Monday, May 12th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date of this dividend was Monday, May 12th. Matthews International's dividend payout ratio (DPR) is -39.22%.

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.