JPMorgan Chase & Co. Boosts Stake in Matthews International Co. (NASDAQ:MATW)

JPMorgan Chase & Co. grew its stake in shares of Matthews International Co. (NASDAQ:MATW - Free Report) by 46.7% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 73,771 shares of the company's stock after acquiring an additional 23,492 shares during the period. JPMorgan Chase & Co. owned about 0.24% of Matthews International worth $2,042,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of MATW. Smartleaf Asset Management LLC raised its position in shares of Matthews International by 1,865.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,500 shares of the company's stock valued at $125,000 after purchasing an additional 4,271 shares during the last quarter. AlphaQuest LLC acquired a new stake in Matthews International during the 4th quarter worth about $154,000. KLP Kapitalforvaltning AS purchased a new position in shares of Matthews International during the 4th quarter valued at about $155,000. Waldron Private Wealth LLC acquired a new position in shares of Matthews International in the 4th quarter valued at about $213,000. Finally, Arizona State Retirement System purchased a new stake in shares of Matthews International in the fourth quarter worth about $233,000. Institutional investors own 83.08% of the company's stock.

Matthews International Stock Performance

MATW stock traded down $1.03 during trading on Wednesday, hitting $20.45. 553,295 shares of the company traded hands, compared to its average volume of 189,063. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.58 and a quick ratio of 0.96. Matthews International Co. has a 1 year low of $18.50 and a 1 year high of $32.24. The stock's 50-day simple moving average is $22.00 and its 200 day simple moving average is $25.28. The company has a market cap of $633.32 million, a PE ratio of -10.38 and a beta of 1.07.

Matthews International (NASDAQ:MATW - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The company reported $0.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.36 by ($0.02). Matthews International had a positive return on equity of 12.88% and a negative net margin of 3.48%. On average, equities analysts expect that Matthews International Co. will post 1.73 earnings per share for the current fiscal year.

Matthews International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 26th. Investors of record on Monday, May 12th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.89%. Matthews International's payout ratio is -50.76%.

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.