Matthews International Corporation (NASDAQ:MATW) Shares Sold by Phoenix Financial Ltd.

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

Other large investors have also made changes to their positions in the company. Gabelli Funds LLC boosted its holdings in shares of Matthews International by 2.1% in the 4th quarter. Gabelli Funds LLC now owns 148,911 shares of the company's stock valued at $4,122,000 after acquiring an additional 3,113 shares during the last quarter. Bank of America Corp DE boosted its holdings in Matthews International by 21.2% during the fourth quarter. Bank of America Corp DE now owns 119,025 shares of the company's stock worth $3,295,000 after buying an additional 20,809 shares in the last quarter. Palisade Capital Management LP boosted its holdings in Matthews International by 12.0% during the first quarter. Palisade Capital Management LP now owns 654,062 shares of the company's stock worth $14,546,000 after buying an additional 70,078 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Matthews International by 3,527.7% during the first quarter. GAMMA Investing LLC now owns 24,197 shares of the company's stock worth $538,000 after buying an additional 23,530 shares in the last quarter. Finally, Wedge Capital Management L L P NC boosted its holdings in Matthews International by 30.4% during the first quarter. Wedge Capital Management L L P NC now owns 56,968 shares of the company's stock worth $1,267,000 after buying an additional 13,269 shares in the last quarter. 83.08% of the stock is owned by hedge funds and other institutional investors.

Matthews International Stock Performance

NASDAQ MATW traded up $0.03 during mid-day trading on Wednesday, reaching $23.90. 40,215 shares of the stock were exchanged, compared to its average volume of 241,719. The business's 50 day moving average is $23.21 and its 200-day moving average is $23.47. Matthews International Corporation has a 1 year low of $18.50 and a 1 year high of $32.24. The company has a market capitalization of $741.12 million, a P/E ratio of -9.37 and a beta of 1.27. The company has a debt-to-equity ratio of 2.00, a quick ratio of 1.09 and a current ratio of 1.59.

Matthews International (NASDAQ:MATW - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.34 earnings per share for the quarter, missing analysts' consensus estimates of $0.36 by ($0.02). The company had revenue of $427.63 million for the quarter, compared to analyst estimates of $435.62 million. Matthews International had a positive return on equity of 11.04% and a negative net margin of 4.62%. On average, equities research analysts forecast that Matthews International Corporation will post 1.73 EPS for the current fiscal year.

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.