JPMorgan Chase & Co. Boosts Stock Position in Matthews International Co. (NASDAQ:MATW)

JPMorgan Chase & Co. boosted its position in Matthews International Co. (NASDAQ:MATW - Free Report) by 46.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 73,771 shares of the company's stock after purchasing an additional 23,492 shares during the period. JPMorgan Chase & Co. owned about 0.24% of Matthews International worth $2,042,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC lifted its stake in shares of Matthews International by 1,865.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 4,500 shares of the company's stock valued at $125,000 after purchasing an additional 4,271 shares during the period. AlphaQuest LLC acquired a new stake in shares of Matthews International during the 4th quarter valued at approximately $154,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Matthews International during the 4th quarter valued at approximately $155,000. Waldron Private Wealth LLC purchased a new stake in shares of Matthews International during the 4th quarter worth approximately $213,000. Finally, Arizona State Retirement System acquired a new stake in shares of Matthews International in the 4th quarter worth approximately $233,000. Hedge funds and other institutional investors own 83.08% of the company's stock.

Matthews International Price Performance

MATW stock traded up $0.14 during midday trading on Monday, hitting $20.68. 178,027 shares of the stock were exchanged, compared to its average volume of 186,727. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.96 and a current ratio of 1.58. The stock has a market cap of $640.44 million, a price-to-earnings ratio of -10.50 and a beta of 1.07. Matthews International Co. has a fifty-two week low of $18.50 and a fifty-two week high of $32.24. The stock's 50-day moving average price is $22.22 and its 200-day moving average price is $25.35.

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

Matthews International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 24th. Stockholders of record on Monday, February 10th were paid a dividend of $0.25 per share. The ex-dividend date was Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.84%. Matthews International's dividend payout ratio (DPR) is -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.