Hsbc Holdings PLC Makes New Investment in Matthews International Corporation $MATW

Hsbc Holdings PLC acquired a new stake in shares of Matthews International Corporation (NASDAQ:MATW) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 23,068 shares of the company’s stock, valued at approximately $603,000.

Other large investors also recently modified their holdings of the company. US Bancorp DE lifted its position in Matthews International by 45.9% in the 3rd quarter. US Bancorp DE now owns 2,063 shares of the company’s stock worth $50,000 after buying an additional 649 shares during the last quarter. Potomac Capital Management Inc. bought a new position in Matthews International during the fourth quarter valued at approximately $59,000. Tower Research Capital LLC TRC raised its stake in shares of Matthews International by 187.1% during the second quarter. Tower Research Capital LLC TRC now owns 2,885 shares of the company’s stock worth $69,000 after acquiring an additional 1,880 shares in the last quarter. Tripletail Wealth Management LLC raised its stake in shares of Matthews International by 206.5% during the fourth quarter. Tripletail Wealth Management LLC now owns 2,820 shares of the company’s stock worth $73,000 after acquiring an additional 1,900 shares in the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Matthews International by 51.6% in the 2nd quarter. BNP Paribas Financial Markets now owns 3,080 shares of the company’s stock worth $74,000 after acquiring an additional 1,048 shares during the last quarter. 83.08% of the stock is owned by hedge funds and other institutional investors.

Matthews International Stock Performance

Matthews International stock opened at $26.72 on Thursday. The company has a current ratio of 1.64, a quick ratio of 0.97 and a debt-to-equity ratio of 1.12. The firm has a 50-day moving average of $26.60 and a 200-day moving average of $26.53. The firm has a market cap of $833.66 million, a P/E ratio of 86.19 and a beta of 1.08. Matthews International Corporation has a 1-year low of $21.95 and a 1-year high of $30.93.

Matthews International (NASDAQ:MATW) last announced its quarterly earnings results on Thursday, April 30th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.20. The company had revenue of $258.62 million for the quarter, compared to the consensus estimate of $253.65 million. Matthews International had a return on equity of 5.88% and a net margin of 0.80%. Sell-side analysts expect that Matthews International Corporation will post 1.09 EPS for the current year.

Matthews International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 25th. Stockholders of record on Monday, May 11th were given a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date was Monday, May 11th. Matthews International’s dividend payout ratio (DPR) is currently 329.03%.

Analyst Ratings Changes

MATW has been the subject of a number of research reports. Zacks Research raised shares of Matthews International from a “strong sell” rating to a “hold” rating in a research note on Monday, April 6th. Weiss Ratings cut shares of Matthews International from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, May 6th. Finally, Wall Street Zen downgraded shares of Matthews International from a “buy” rating to a “hold” rating in a research note on Sunday, May 10th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Matthews International has a consensus rating of “Reduce”.

About Matthews International

Matthews International Corporation (NASDAQ:MATW) is a diversified industrial company headquartered in Pittsburgh, Pennsylvania. The company operates through two primary business segments—Brand Solutions and Memorialization—offering a broad range of products and services designed to meet the needs of industrial manufacturers, brand marketers and the funeral industry worldwide.

In its Brand Solutions segment, Matthews International provides engraving and digital printing systems, automated finishing equipment, thermal management products and electronics assembly solutions.