Bank of New York Mellon Corp Increases Stock Holdings in Matthews International Co. (NASDAQ:MATW)

Bank of New York Mellon Corp raised its position in Matthews International Co. (NASDAQ:MATW - Free Report) by 10.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 375,855 shares of the company's stock after buying an additional 34,064 shares during the period. Bank of New York Mellon Corp owned about 1.21% of Matthews International worth $10,404,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in MATW. State Street Corp boosted its holdings in shares of Matthews International by 6.8% during the 3rd 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 last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Matthews International by 10.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 781,592 shares of the company's stock valued at $21,126,000 after acquiring an additional 73,240 shares during the last quarter. Geode Capital Management LLC lifted 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 purchasing an additional 6,536 shares in the last quarter. Barington Capital Group L.P. lifted its stake in Matthews International by 18.2% during the 3rd 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 in the last quarter. Finally, New York State Common Retirement Fund boosted its stake in shares of Matthews International by 3.1% in the fourth quarter. New York State Common Retirement Fund now owns 195,159 shares of the company's stock valued at $5,402,000 after purchasing an additional 5,892 shares during the period. Institutional investors and hedge funds own 83.08% of the company's stock.

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Matthews International Stock Down 0.1 %

Shares of NASDAQ MATW traded down $0.03 during mid-day trading on Friday, hitting $22.55. The company had a trading volume of 133,602 shares, compared to its average volume of 171,376. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.58 and a quick ratio of 0.96. The company has a market capitalization of $698.35 million, a PE ratio of -11.45 and a beta of 1.09. The business's 50-day simple moving average is $26.92 and its 200 day simple moving average is $25.85. Matthews International Co. has a 1-year low of $21.09 and a 1-year high of $32.24.

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%. On average, analysts predict that Matthews International Co. will post 1.73 earnings per share for the current year.

Matthews International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 24th. Shareholders of record on Monday, February 10th were paid a $0.25 dividend. The ex-dividend date was Monday, February 10th. This represents a $1.00 annualized dividend and a yield of 4.43%. Matthews International's dividend payout ratio is presently -50.76%.

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.