Connor Clark & Lunn Investment Management Ltd. Raises Stake in Matthews International Co. (NASDAQ:MATW)

Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Matthews International Co. (NASDAQ:MATW - Free Report) by 49.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 117,704 shares of the company's stock after acquiring an additional 39,188 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.38% of Matthews International worth $3,258,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Barclays PLC increased its position in shares of Matthews International by 375.4% during the third quarter. Barclays PLC now owns 52,823 shares of the company's stock valued at $1,225,000 after acquiring an additional 41,711 shares during the last quarter. Jane Street Group LLC increased its position in shares of Matthews International by 120.5% during the third quarter. Jane Street Group LLC now owns 79,861 shares of the company's stock valued at $1,853,000 after acquiring an additional 43,650 shares during the last quarter. Barington Capital Group L.P. increased its position 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 valued at $10,556,000 after acquiring an additional 70,000 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Matthews International by 0.9% in the third quarter. Geode Capital Management LLC now owns 729,539 shares of the company's stock valued at $16,929,000 after purchasing an additional 6,536 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Matthews International by 10.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 781,592 shares of the company's stock valued at $21,126,000 after purchasing an additional 73,240 shares during the period. 83.08% of the stock is currently owned by institutional investors and hedge funds.

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Matthews International Price Performance

Shares of NASDAQ MATW remained flat at $23.15 during midday trading on Friday. 504,069 shares of the stock traded hands, compared to its average volume of 172,248. The company's 50-day moving average price is $26.33 and its two-hundred day moving average price is $25.76. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.58 and a quick ratio of 0.96. Matthews International Co. has a twelve month low of $21.09 and a twelve month high of $32.24. The stock has a market capitalization of $716.93 million, a price-to-earnings ratio of -11.75 and a beta of 1.09.

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

Matthews International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 24th. Investors of record on Monday, February 10th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a yield of 4.32%. Matthews International's dividend payout ratio is currently -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.