Matthews International Co. (NASDAQ:MATW) Stock Holdings Lifted by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC grew its stake in Matthews International Co. (NASDAQ:MATW - Free Report) by 30.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 56,968 shares of the company's stock after buying an additional 13,269 shares during the period. Wedge Capital Management L L P NC owned 0.18% of Matthews International worth $1,267,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MATW. Quadrant Capital Group LLC increased its stake in shares of Matthews International by 551.8% during the fourth quarter. Quadrant Capital Group LLC now owns 906 shares of the company's stock worth $25,000 after acquiring an additional 767 shares during the period. Sterling Capital Management LLC increased its position in Matthews International by 797.2% during the 4th quarter. Sterling Capital Management LLC now owns 951 shares of the company's stock worth $26,000 after purchasing an additional 845 shares during the period. Smartleaf Asset Management LLC raised its stake in shares of Matthews International by 1,865.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 4,500 shares of the company's stock worth $125,000 after buying an additional 4,271 shares in the last quarter. Central Pacific Bank Trust Division purchased a new stake in shares of Matthews International in the first quarter valued at approximately $149,000. Finally, AlphaQuest LLC acquired a new position in Matthews International during the fourth quarter worth about $154,000. 83.08% of the stock is currently owned by institutional investors and hedge funds.

Matthews International Trading Down 1.0%

MATW stock traded down $0.22 during midday trading on Thursday, hitting $22.45. The stock had a trading volume of 29,866 shares, compared to its average volume of 206,164. 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 firm has a market cap of $696.15 million, a PE ratio of -11.40 and a beta of 1.25. Matthews International Co. has a 12-month low of $18.50 and a 12-month high of $32.24. The company's 50-day moving average price is $20.69 and its 200 day moving average price is $24.75.

Matthews International (NASDAQ:MATW - Get Free Report) last posted its earnings results on Wednesday, April 30th. The company reported $0.34 earnings per share 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 analyst estimates 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 research analysts predict that Matthews International Co. will post 1.73 earnings per share for the current fiscal year.

Matthews International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, May 26th. Stockholders of record on Monday, May 12th were given a $0.25 dividend. The ex-dividend date was Monday, May 12th. This represents a $1.00 annualized dividend and a dividend yield of 4.45%. Matthews International's 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.