Russell Investments Group Ltd. Purchases 69,356 Shares of Matthews International Corporation $MATW

Key Points

• Russell Investments Group Ltd. increased its stake in Matthews International Corporation by 81.0% during Q1, owning 155,018 shares valued at about $3.45 million.
• The stock price of Matthews International has risen by 5.2%, with a current market cap of $768.54 million and a P/E ratio of -11.77.
• Matthews International recently announced a quarterly dividend of $0.25, representing an annualized dividend yield of 4.0%.

Russell Investments Group Ltd. boosted its stake in shares of Matthews International Corporation (NASDAQ:MATW - Free Report) by 81.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 155,018 shares of the company's stock after buying an additional 69,356 shares during the period. Russell Investments Group Ltd. owned approximately 0.50% of Matthews International worth $3,448,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wells Fargo & Company MN raised its stake in Matthews International by 27.6% in the fourth quarter. Wells Fargo & Company MN now owns 19,479 shares of the company's stock valued at $539,000 after buying an additional 4,217 shares during the period. Sterling Capital Management LLC raised its stake in Matthews International by 797.2% during the fourth quarter. Sterling Capital Management LLC now owns 951 shares of the company's stock worth $26,000 after acquiring an additional 845 shares in the last quarter. Marshall Wace LLP acquired a new position in Matthews International during the fourth quarter worth about $650,000. CANADA LIFE ASSURANCE Co increased its stake in shares of Matthews International by 3.6% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 31,156 shares of the company's stock valued at $862,000 after buying an additional 1,088 shares during the period. Finally, Hsbc Holdings PLC bought a new stake in Matthews International in the fourth quarter valued at approximately $616,000. 83.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded Matthews International from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus target price of $40.00.

Matthews International Stock Performance

Shares of MATW traded up $0.27 on Thursday, reaching $24.21. 102,525 shares of the company's stock traded hands, compared to its average volume of 237,395. The stock's 50 day simple moving average is $24.12 and its two-hundred day simple moving average is $22.73. The company has a current ratio of 1.66, a quick ratio of 0.98 and a debt-to-equity ratio of 1.35. Matthews International Corporation has a 52-week low of $18.50 and a 52-week high of $32.24. The stock has a market cap of $745.43 million, a PE ratio of -11.42 and a beta of 1.24.

Matthews International (NASDAQ:MATW - Get Free Report) last announced its 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 business had revenue of $349.40 million for the quarter, compared to analysts' expectations of $321.95 million. Matthews International had a negative net margin of 4.01% and a positive return on equity of 9.15%. On average, analysts forecast that Matthews International Corporation will post 1.73 earnings per share for the current fiscal year.

Matthews International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 25th. Investors of record on Monday, August 11th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.00 annualized dividend and a yield of 4.1%. Matthews International's dividend payout ratio (DPR) is -47.17%.

Matthews International Company 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.