Waldron Private Wealth LLC Purchases New Holdings in Matthews International Co. (NASDAQ:MATW)

Waldron Private Wealth LLC acquired a new position in shares of Matthews International Co. (NASDAQ:MATW) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 7,711 shares of the company’s stock, valued at approximately $213,000.

Several other hedge funds and other institutional investors also recently modified their holdings of MATW. State Street Corp lifted its holdings in shares of Matthews International by 6.8% during the third quarter. State Street Corp now owns 1,208,505 shares of the company’s stock worth $28,037,000 after purchasing an additional 76,911 shares during the period. Geode Capital Management LLC lifted its stake in shares of Matthews International by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 729,539 shares of the company’s stock worth $16,929,000 after acquiring an additional 6,536 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Matthews International by 8.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 708,352 shares of the company’s stock valued at $16,434,000 after acquiring an additional 55,687 shares in the last quarter. Barington Capital Group L.P. increased its stake in shares of Matthews International by 18.2% during the third quarter. Barington Capital Group L.P. now owns 455,000 shares of the company’s stock worth $10,556,000 after acquiring an additional 70,000 shares during the period. Finally, Polar Asset Management Partners Inc. purchased a new position in Matthews International during the third quarter worth about $2,793,000. 83.08% of the stock is currently owned by hedge funds and other institutional investors.

Matthews International Price Performance

Shares of NASDAQ:MATW opened at $27.99 on Monday. Matthews International Co. has a 52 week low of $21.09 and a 52 week high of $34.19. The company has a 50-day moving average price of $29.39 and a 200 day moving average price of $26.15. The company has a market cap of $866.85 million, a P/E ratio of -14.50 and a beta of 1.14. The company has a quick ratio of 0.91, a current ratio of 1.45 and a debt-to-equity ratio of 1.76.

Matthews International (NASDAQ:MATW) last posted its quarterly earnings results on Thursday, November 21st. The company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.41 by $0.14. Matthews International had a positive return on equity of 13.69% and a negative net margin of 3.32%. During the same period in the previous year, the company posted $0.96 earnings per share. Research analysts predict that Matthews International Co. will post 2 earnings per share for the current year.

Matthews International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 24th. Investors of record on Monday, February 10th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.57%. The ex-dividend date of this dividend is Monday, February 10th. Matthews International’s dividend payout ratio is currently -51.81%.

Matthews International Company 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.