Allspring Global Investments Holdings LLC Acquires 73,240 Shares of Matthews International Co. (NASDAQ:MATW)

Allspring Global Investments Holdings LLC lifted its position in Matthews International Co. (NASDAQ:MATW - Free Report) by 10.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 781,592 shares of the company's stock after purchasing an additional 73,240 shares during the quarter. Allspring Global Investments Holdings LLC owned 2.52% of Matthews International worth $21,126,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. BNP Paribas Financial Markets raised its stake in shares of Matthews International by 7.7% in the third quarter. BNP Paribas Financial Markets now owns 6,602 shares of the company's stock valued at $153,000 after purchasing an additional 471 shares in the last quarter. KBC Group NV raised its stake in shares of Matthews International by 63.7% in the third quarter. KBC Group NV now owns 1,937 shares of the company's stock valued at $45,000 after purchasing an additional 754 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Matthews International by 14.9% during the third quarter. JPMorgan Chase & Co. now owns 50,279 shares of the company's stock worth $1,166,000 after acquiring an additional 6,514 shares in the last quarter. Geode Capital Management LLC raised its stake in Matthews International by 0.9% during the third 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 in the last quarter. Finally, Waldron Private Wealth LLC acquired a new position in Matthews International during the fourth quarter worth $213,000. 83.08% of the stock is currently owned by institutional investors and hedge funds.

Matthews International Price Performance

Matthews International stock traded down $0.76 during mid-day trading on Wednesday, hitting $25.05. 207,875 shares of the company were exchanged, compared to its average volume of 266,114. 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 business has a fifty day moving average of $28.49 and a 200 day moving average of $26.01. Matthews International Co. has a 1-year low of $21.09 and a 1-year high of $32.24. The company has a market capitalization of $775.80 million, a PE ratio of -12.72 and a beta of 1.14.

Matthews International (NASDAQ:MATW - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.12). Matthews International had a positive return on equity of 12.88% and a negative net margin of 3.48%. As a group, sell-side analysts expect that Matthews International Co. will post 1.73 earnings per share for the current year.

Matthews International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Stockholders of record on Monday, February 10th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.99%. The ex-dividend date of this dividend is Monday, February 10th. Matthews International's payout ratio is presently -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.