Allspring Global Investments Holdings LLC Boosts Stake in Matthews International Co. (NASDAQ:MATW)

Allspring Global Investments Holdings LLC increased its holdings in shares of Matthews International Co. (NASDAQ:MATW - Free Report) by 53.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 470,016 shares of the company's stock after acquiring an additional 163,984 shares during the quarter. Allspring Global Investments Holdings LLC owned about 1.53% of Matthews International worth $17,226,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of MATW. US Bancorp DE increased its position in Matthews International by 92.3% during the first quarter. US Bancorp DE now owns 854 shares of the company's stock worth $28,000 after acquiring an additional 410 shares during the period. Citigroup Inc. grew its stake in Matthews International by 7.0% during the first quarter. Citigroup Inc. now owns 30,240 shares of the company's stock worth $979,000 after buying an additional 1,976 shares in the last quarter. MetLife Investment Management LLC grew its stake in Matthews International by 53.3% during the first quarter. MetLife Investment Management LLC now owns 16,919 shares of the company's stock worth $547,000 after buying an additional 5,885 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Matthews International by 13.8% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 27,199 shares of the company's stock worth $880,000 after buying an additional 3,306 shares in the last quarter. Finally, BlackRock Inc. grew its stake in Matthews International by 0.3% during the first quarter. BlackRock Inc. now owns 5,406,300 shares of the company's stock worth $174,948,000 after buying an additional 14,222 shares in the last quarter. 83.08% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. B. Riley reduced their price objective on shares of Matthews International from $61.00 to $59.00 and set a "buy" rating on the stock in a research note on Monday, February 5th. StockNews.com downgraded shares of Matthews International from a "buy" rating to a "hold" rating in a research note on Friday, February 9th.

Matthews International Trading Down 0.1 %

NASDAQ MATW traded down $0.03 during trading hours on Monday, reaching $26.63. The company's stock had a trading volume of 130,305 shares, compared to its average volume of 159,824. The firm has a fifty day simple moving average of $28.78 and a 200-day simple moving average of $33.44. The stock has a market cap of $817.01 million, a P/E ratio of 25.12 and a beta of 1.12. Matthews International Co. has a 52 week low of $26.31 and a 52 week high of $48.86. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.88 and a quick ratio of 1.15.

Matthews International (NASDAQ:MATW - Get Free Report) last issued its quarterly earnings data on Thursday, February 1st. The company reported $0.37 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.37. The business had revenue of $449.99 million during the quarter, compared to analyst estimates of $437.77 million. Matthews International had a net margin of 1.77% and a return on equity of 16.44%. Equities analysts forecast that Matthews International Co. will post 2.66 earnings per share for the current fiscal year.

Matthews International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 19th. Investors of record on Monday, February 5th were issued a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 3.60%. The ex-dividend date of this dividend was Friday, February 2nd. This is a positive change from Matthews International's previous quarterly dividend of $0.13. Matthews International's dividend payout ratio (DPR) is 90.57%.

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.