48,000 Shares in Matthews International Co. (NASDAQ:MATW) Bought by Formula Growth Ltd.

Formula Growth Ltd. bought a new stake in Matthews International Co. (NASDAQ:MATW - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 48,000 shares of the company's stock, valued at approximately $1,329,000. Formula Growth Ltd. owned about 0.15% of Matthews International at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Quinn Opportunity Partners LLC raised its position in shares of Matthews International by 100.7% during the 4th quarter. Quinn Opportunity Partners LLC now owns 192,620 shares of the company's stock valued at $5,332,000 after acquiring an additional 96,646 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in Matthews International by 1,718.7% during the fourth quarter. Russell Investments Group Ltd. now owns 85,662 shares of the company's stock worth $2,371,000 after buying an additional 80,952 shares during the last quarter. State Street Corp grew its position 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 buying an additional 76,911 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of Matthews International by 10.3% in the 4th 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. Finally, Jane Street Group LLC raised its position in shares of Matthews International by 120.5% in the 3rd 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 period. Institutional investors and hedge funds own 83.08% of the company's stock.

Matthews International Trading Up 2.0 %

NASDAQ MATW traded up $0.41 during trading on Thursday, reaching $20.34. 50,087 shares of the stock traded hands, compared to its average volume of 185,584. Matthews International Co. has a fifty-two week low of $18.50 and a fifty-two week high of $32.24. 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 firm has a market cap of $629.75 million, a price-to-earnings ratio of -10.32 and a beta of 1.07. The stock's 50-day moving average price is $22.43 and its 200 day moving average price is $25.32.

Matthews International (NASDAQ:MATW - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.14 EPS for the quarter, missing analysts' consensus estimates 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 predict that Matthews International Co. will post 1.73 EPS for the current year.

Matthews International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 24th. Stockholders of record on Monday, February 10th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.92%. The ex-dividend date was Monday, February 10th. Matthews International's dividend payout ratio is currently -50.76%.

About Matthews International

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.