Peapack Gladstone Financial Corp Takes $679,000 Position in Matthews International Corporation $MATW

Peapack Gladstone Financial Corp purchased a new stake in shares of Matthews International Corporation (NASDAQ:MATW) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 25,995 shares of the company’s stock, valued at approximately $679,000.

A number of other large investors have also recently modified their holdings of MATW. US Bancorp DE boosted its position in shares of Matthews International by 45.9% during the 3rd quarter. US Bancorp DE now owns 2,063 shares of the company’s stock valued at $50,000 after acquiring an additional 649 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Matthews International during the 3rd quarter valued at about $59,000. Tower Research Capital LLC TRC raised its holdings in shares of Matthews International by 187.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,885 shares of the company’s stock valued at $69,000 after buying an additional 1,880 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Matthews International by 51.6% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,080 shares of the company’s stock valued at $74,000 after buying an additional 1,048 shares in the last quarter. Finally, State of Wyoming purchased a new position in shares of Matthews International during the 3rd quarter valued at about $84,000. Institutional investors own 83.08% of the company’s stock.

Matthews International Price Performance

Shares of Matthews International stock opened at $25.44 on Thursday. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.64 and a quick ratio of 0.97. The business’s 50 day simple moving average is $26.87 and its two-hundred day simple moving average is $26.36. The stock has a market capitalization of $793.73 million, a P/E ratio of 82.06 and a beta of 1.08. Matthews International Corporation has a one year low of $20.74 and a one year high of $30.93.

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

Matthews International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 25th. Shareholders of record on Monday, May 11th were paid a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend was Monday, May 11th. Matthews International’s payout ratio is 329.03%.

Wall Street Analyst Weigh In

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