Cubist Systematic Strategies LLC Invests $1.44 Million in Matthews International Co. (NASDAQ:MATW)

Cubist Systematic Strategies LLC purchased a new stake in shares of Matthews International Co. (NASDAQ:MATW - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 57,361 shares of the company's stock, valued at approximately $1,437,000. Cubist Systematic Strategies LLC owned approximately 0.19% of Matthews International as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of MATW. Point72 DIFC Ltd purchased a new position in shares of Matthews International in the 2nd quarter valued at $49,000. nVerses Capital LLC purchased a new position in Matthews International in the second quarter valued at about $110,000. SG Americas Securities LLC acquired a new position in shares of Matthews International during the second quarter worth about $112,000. XTX Topco Ltd purchased a new stake in shares of Matthews International in the second quarter worth about $246,000. Finally, Inspire Investing LLC boosted its position in shares of Matthews International by 20.0% in the second quarter. Inspire Investing LLC now owns 15,590 shares of the company's stock worth $391,000 after buying an additional 2,598 shares during the period. 83.08% of the stock is currently owned by hedge funds and other institutional investors.

Matthews International Stock Down 1.9 %

Shares of MATW stock traded down $0.44 on Wednesday, hitting $22.28. The stock had a trading volume of 105,177 shares, compared to its average volume of 153,390. The stock's 50 day moving average is $25.02 and its 200-day moving average is $26.50. The firm has a market capitalization of $684.22 million, a price-to-earnings ratio of 21.34 and a beta of 1.08. Matthews International Co. has a 52-week low of $22.28 and a 52-week high of $40.80. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.02 and a current ratio of 1.66.

Matthews International (NASDAQ:MATW - Get Free Report) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.56 earnings per share for the quarter, missing analysts' consensus estimates of $0.58 by ($0.02). Matthews International had a net margin of 1.43% and a return on equity of 15.79%. The firm had revenue of $427.83 million during the quarter, compared to analysts' expectations of $450.03 million. During the same period in the previous year, the company earned $0.74 earnings per share. As a group, research analysts expect that Matthews International Co. will post 2.53 earnings per share for the current year.

Matthews International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Monday, August 5th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Monday, August 5th. This represents a $0.96 annualized dividend and a yield of 4.31%. Matthews International's dividend payout ratio is presently 90.57%.

Analysts Set New Price Targets

Separately, B. Riley dropped their target price on Matthews International from $54.00 to $40.00 and set a "buy" rating on the stock in a 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.