Gabelli Funds LLC Increases Stock Position in Matthews International Co. (NASDAQ:MATW)

Gabelli Funds LLC boosted its position in Matthews International Co. (NASDAQ:MATW) by 2.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 148,911 shares of the company’s stock after acquiring an additional 3,113 shares during the period. Gabelli Funds LLC owned 0.48% of Matthews International worth $4,122,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Quadrant Capital Group LLC grew its stake in shares of Matthews International by 551.8% in the fourth quarter. Quadrant Capital Group LLC now owns 906 shares of the company’s stock worth $25,000 after purchasing an additional 767 shares during the last quarter. Sterling Capital Management LLC lifted its holdings in Matthews International by 797.2% in the 4th quarter. Sterling Capital Management LLC now owns 951 shares of the company’s stock worth $26,000 after buying an additional 845 shares during the period. Smartleaf Asset Management LLC grew 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 worth $125,000 after buying an additional 4,271 shares during the last quarter. AlphaQuest LLC purchased a new position in shares of Matthews International during the fourth quarter valued at approximately $154,000. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Matthews International during the fourth quarter valued at approximately $155,000. Hedge funds and other institutional investors own 83.08% of the company’s stock.

Matthews International Stock Performance

NASDAQ:MATW opened at $19.51 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.58 and a debt-to-equity ratio of 1.94. The firm’s fifty day simple moving average is $22.97 and its 200 day simple moving average is $25.41. The stock has a market cap of $604.21 million, a P/E ratio of -9.90 and a beta of 1.07. Matthews International Co. has a twelve month low of $18.50 and a twelve month high of $32.24.

Matthews International (NASDAQ:MATW) last announced its earnings results on Thursday, February 6th. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.12). Matthews International had a negative net margin of 3.48% and a positive return on equity of 12.88%. As a group, research analysts predict that Matthews International Co. will post 1.73 EPS for the current year.

Matthews International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, February 24th. Stockholders of record on Monday, February 10th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 5.13%. The ex-dividend date was Monday, February 10th. Matthews International’s dividend payout ratio is currently -50.76%.

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.