Great Lakes Advisors LLC Raises Position in Matthews International Co. (NASDAQ:MATW)

Great Lakes Advisors LLC raised its stake in shares of Matthews International Co. (NASDAQ:MATW - Free Report) by 84.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 119,765 shares of the company's stock after buying an additional 54,753 shares during the period. Great Lakes Advisors LLC owned approximately 0.39% of Matthews International worth $4,389,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Panagora Asset Management Inc. acquired a new position in shares of Matthews International in the 4th quarter worth approximately $1,048,000. Dimensional Fund Advisors LP grew its stake in shares of Matthews International by 1.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,428,242 shares of the company's stock worth $52,347,000 after purchasing an additional 13,594 shares during the last quarter. Smithfield Trust Co grew its stake in shares of Matthews International by 300.0% in the 4th quarter. Smithfield Trust Co now owns 2,800 shares of the company's stock worth $104,000 after purchasing an additional 2,100 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Matthews International by 15.7% in the 4th quarter. Victory Capital Management Inc. now owns 6,027 shares of the company's stock worth $221,000 after purchasing an additional 816 shares during the last quarter. Finally, Skylands Capital LLC grew its stake in shares of Matthews International by 620.0% in the 4th quarter. Skylands Capital LLC now owns 16,200 shares of the company's stock worth $594,000 after purchasing an additional 13,950 shares during the last quarter. Institutional investors and hedge funds own 83.08% of the company's stock.

Matthews International Trading Down 2.1 %

Shares of MATW traded down $0.61 during midday trading on Monday, hitting $28.61. The stock had a trading volume of 97,732 shares, compared to its average volume of 149,597. Matthews International Co. has a fifty-two week low of $25.42 and a fifty-two week high of $48.86. The business has a 50-day simple moving average of $28.28 and a two-hundred day simple moving average of $31.69. The firm has a market cap of $878.61 million, a P/E ratio of 26.99 and a beta of 1.14. The company has a current ratio of 1.82, a quick ratio of 1.12 and a debt-to-equity ratio of 1.64.

Matthews International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Monday, May 6th will be issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 3.36%. The ex-dividend date is Friday, May 3rd. Matthews International's dividend payout ratio is currently 90.57%.

Analyst Ratings Changes

Several research analysts have commented on the stock. B. Riley decreased their target price on shares of Matthews International from $61.00 to $59.00 and set a "buy" rating for the company in a report on Monday, February 5th. StockNews.com cut shares of Matthews International from a "buy" rating to a "hold" rating in a report on Friday, February 9th.

About Matthews International

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.