Intech Investment Management LLC Grows Position in Matthews International Corporation $MATW

Intech Investment Management LLC lifted its position in Matthews International Corporation (NASDAQ:MATW) by 228.3% during the 4th quarter, Holdings Channel reports. The firm owned 101,041 shares of the company’s stock after acquiring an additional 70,264 shares during the period. Intech Investment Management LLC’s holdings in Matthews International were worth $2,639,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in MATW. Ameriprise Financial Inc. increased its position in shares of Matthews International by 9.0% in the second quarter. Ameriprise Financial Inc. now owns 1,664,426 shares of the company’s stock valued at $39,796,000 after acquiring an additional 137,015 shares during the period. Gamco Investors INC. ET AL increased its holdings in Matthews International by 9.7% during the 4th quarter. Gamco Investors INC. ET AL now owns 1,554,105 shares of the company’s stock valued at $40,593,000 after purchasing an additional 136,794 shares during the period. Dimensional Fund Advisors LP increased its holdings in Matthews International by 0.9% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,500,476 shares of the company’s stock valued at $36,430,000 after purchasing an additional 13,194 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Matthews International by 2.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,075,479 shares of the company’s stock valued at $27,887,000 after purchasing an additional 22,046 shares during the period. Finally, Geode Capital Management LLC increased its holdings in Matthews International by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 740,854 shares of the company’s stock valued at $19,354,000 after purchasing an additional 2,561 shares during the period. 83.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Matthews International Stock Down 1.2%

Shares of Matthews International stock opened at $26.10 on Wednesday. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.97 and a current ratio of 1.64. The stock has a market capitalization of $814.32 million, a PE ratio of 84.19 and a beta of 1.08. Matthews International Corporation has a 52-week low of $20.74 and a 52-week high of $30.93. The company has a 50-day simple moving average of $26.82 and a two-hundred day simple moving average of $26.35.

Matthews International (NASDAQ:MATW) last issued its earnings results on Thursday, April 30th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.20. The business had revenue of $258.62 million during the quarter, compared to analysts’ expectations of $253.65 million. Matthews International had a net margin of 0.80% and a return on equity of 5.88%. On average, analysts anticipate that Matthews International Corporation will post 1.09 EPS for the current fiscal year.

Matthews International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 25th. Stockholders of record on Monday, May 11th were issued a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend was Monday, May 11th. Matthews International’s payout ratio is presently 329.03%.

Matthews International Profile

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.