UMB Bank n.a. Acquires 25,823 Shares of Matthews International Corporation $MATW

Key Points

• UMB Bank n.a. significantly increased its holdings in Matthews International Corporation by 11,737.7%, acquiring an additional 25,823 shares in the second quarter.
• Matthews International's shares are currently valued at $25.05, down 3.2% recently, with 12-month high and low figures of $32.24 and $18.50, respectively.
• The company reported a quarterly earnings per share (EPS) of $0.28, missing estimates, while revenue exceeded expectations at $349.4 million.

UMB Bank n.a. lifted its holdings in shares of Matthews International Corporation (NASDAQ:MATW - Free Report) by 11,737.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,043 shares of the company's stock after purchasing an additional 25,823 shares during the period. UMB Bank n.a. owned about 0.08% of Matthews International worth $623,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in MATW. Central Pacific Bank Trust Division bought a new stake in shares of Matthews International during the 1st quarter worth $149,000. Maven Securities LTD bought a new stake in shares of Matthews International during the 1st quarter worth $334,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Matthews International by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,686 shares of the company's stock worth $393,000 after purchasing an additional 780 shares during the period. Inspire Investing LLC raised its stake in shares of Matthews International by 9.0% during the 1st quarter. Inspire Investing LLC now owns 17,947 shares of the company's stock worth $399,000 after purchasing an additional 1,482 shares during the period. Finally, Penn Mutual Asset Management bought a new stake in shares of Matthews International during the 1st quarter worth $423,000. 83.08% of the stock is currently owned by institutional investors.

Matthews International Stock Down 3.2%

Shares of NASDAQ MATW opened at $25.05 on Monday. Matthews International Corporation has a 12 month low of $18.50 and a 12 month high of $32.24. The company has a current ratio of 1.66, a quick ratio of 0.98 and a debt-to-equity ratio of 1.35. The firm has a market capitalization of $771.29 million, a price-to-earnings ratio of -11.82 and a beta of 1.27. The business has a 50-day moving average of $24.47 and a 200-day moving average of $22.72.

Matthews International (NASDAQ:MATW - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.28 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts' expectations of $321.95 million. Sell-side analysts expect that Matthews International Corporation will post 1.73 earnings per share for the current fiscal year.

Matthews International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 25th. Stockholders of record on Monday, August 11th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, August 11th. This represents a $1.00 annualized dividend and a dividend yield of 4.0%. Matthews International's payout ratio is presently -47.17%.

Wall Street Analyst Weigh In

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

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.

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