ProShare Advisors LLC Trims Stake in Matthews International Co. (NASDAQ:MATW)

ProShare Advisors LLC lowered its stake in Matthews International Co. (NASDAQ:MATW - Free Report) by 11.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 269,637 shares of the company's stock after selling 35,012 shares during the quarter. ProShare Advisors LLC owned about 0.87% of Matthews International worth $7,464,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of MATW. Ameriprise Financial Inc. lifted its stake in Matthews International by 10.0% in the 4th quarter. Ameriprise Financial Inc. now owns 1,854,343 shares of the company's stock worth $51,328,000 after purchasing an additional 168,970 shares in the last quarter. Barington Capital Group L.P. raised 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 valued at $15,610,000 after buying an additional 108,962 shares in the last quarter. Quinn Opportunity Partners LLC raised its position in shares of Matthews International by 100.7% during the 4th quarter. Quinn Opportunity Partners LLC now owns 192,620 shares of the company's stock valued at $5,332,000 after buying an additional 96,646 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of Matthews International by 1,718.7% during the 4th quarter. Russell Investments Group Ltd. now owns 85,662 shares of the company's stock valued at $2,371,000 after buying an additional 80,952 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Matthews International by 10.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 781,592 shares of the company's stock valued at $21,126,000 after buying an additional 73,240 shares in the last quarter. Hedge funds and other institutional investors own 83.08% of the company's stock.

Matthews International Price Performance

Shares of NASDAQ MATW traded up $0.05 during mid-day trading on Friday, hitting $20.85. 201,589 shares of the company's stock traded hands, compared to its average volume of 200,949. The company's 50-day moving average is $20.81 and its two-hundred day moving average is $24.99. 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 capitalization of $646.54 million, a P/E ratio of -10.58 and a beta of 1.20. Matthews International Co. has a 1 year low of $18.50 and a 1 year high of $32.24.

Matthews International (NASDAQ:MATW - Get Free Report) last announced 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). The business had revenue of $427.63 million for the quarter, compared to analysts' expectations of $435.62 million. Matthews International had a negative net margin of 3.48% and a positive return on equity of 12.88%. On average, equities analysts anticipate that Matthews International Co. will post 1.73 EPS for the current fiscal year.

Matthews International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 26th. Stockholders of record on Monday, May 12th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.80%. The ex-dividend date of this dividend is Monday, May 12th. Matthews International's dividend payout ratio 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.