Matthews International Co. (NASDAQ:MATW) Holdings Raised by Jane Street Group LLC

Jane Street Group LLC boosted its position in shares of Matthews International Co. (NASDAQ:MATW - Free Report) by 120.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 79,861 shares of the company's stock after purchasing an additional 43,650 shares during the period. Jane Street Group LLC owned approximately 0.26% of Matthews International worth $1,853,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MATW. BNP Paribas Financial Markets grew its position in shares of Matthews International by 7.7% during the third quarter. BNP Paribas Financial Markets now owns 6,602 shares of the company's stock worth $153,000 after buying an additional 471 shares in the last quarter. KBC Group NV raised its stake in shares of Matthews International by 63.7% in the 3rd 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. The Manufacturers Life Insurance Company lifted its position in shares of Matthews International by 6.9% during the second quarter. The Manufacturers Life Insurance Company now owns 15,707 shares of the company's stock worth $393,000 after purchasing an additional 1,013 shares during the last quarter. Point72 DIFC Ltd acquired a new position in Matthews International in the second quarter worth about $49,000. Finally, Inspire Investing LLC increased its holdings in Matthews International by 20.0% in the second quarter. Inspire Investing LLC now owns 15,590 shares of the company's stock valued at $391,000 after buying an additional 2,598 shares during the last quarter. Hedge funds and other institutional investors own 83.08% of the company's stock.

Analyst Ratings Changes

Separately, B. Riley decreased their target price on Matthews International from $54.00 to $40.00 and set a "buy" rating for the company in a research report on Thursday, September 26th.

Matthews International Stock Performance

MATW stock traded up $0.59 during midday trading on Thursday, reaching $28.41. The company had a trading volume of 146,372 shares, compared to its average volume of 158,635. The company has a quick ratio of 0.91, a current ratio of 1.45 and a debt-to-equity ratio of 1.76. The stock has a 50 day moving average price of $26.48 and a 200 day moving average price of $25.40. The firm has a market capitalization of $869.40 million, a PE ratio of -14.72 and a beta of 1.13. Matthews International Co. has a fifty-two week low of $21.09 and a fifty-two week high of $39.12.

Matthews International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.52%. This is a boost from Matthews International's previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Monday, December 2nd. Matthews International's dividend payout ratio (DPR) is presently -51.81%.

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.