Matthews International Co. (NASDAQ:MATW) is Barington Capital Group L.P.'s 5th Largest Position

Barington Capital Group L.P. raised its stake in Matthews International Co. (NASDAQ:MATW - Free Report) by 18.2% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 455,000 shares of the company's stock after purchasing an additional 70,000 shares during the period. Matthews International accounts for approximately 11.2% of Barington Capital Group L.P.'s holdings, making the stock its 5th biggest holding. Barington Capital Group L.P. owned 1.49% of Matthews International worth $10,556,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of Matthews International by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 3,619,317 shares of the company's stock valued at $112,488,000 after buying an additional 76,752 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in Matthews International by 8.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 708,352 shares of the company's stock worth $16,434,000 after purchasing an additional 55,687 shares during the last quarter. Bank of New York Mellon Corp grew its position in Matthews International by 4.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 360,165 shares of the company's stock worth $9,022,000 after purchasing an additional 14,737 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in Matthews International by 21.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 78,516 shares of the company's stock worth $1,822,000 after purchasing an additional 13,620 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in Matthews International by 1.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 68,771 shares of the company's stock worth $2,138,000 after purchasing an additional 1,063 shares during the last quarter. Institutional investors own 83.08% of the company's stock.

Matthews International Price Performance

Shares of Matthews International stock traded up $0.01 on Monday, hitting $29.92. The company had a trading volume of 65,948 shares, compared to its average volume of 155,559. The business has a 50-day simple moving average of $23.93 and a 200-day simple moving average of $25.26. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.45 and a quick ratio of 0.91. The company has a market cap of $915.55 million, a PE ratio of -15.63 and a beta of 1.06. Matthews International Co. has a 52 week low of $21.09 and a 52 week high of $39.12.

Matthews International Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 3.34%. This is a boost from Matthews International's previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Monday, December 2nd. Matthews International's dividend payout ratio (DPR) is presently -49.74%.

Analyst Upgrades and Downgrades

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

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.