Matthews International Co. (NASDAQ:MATW) Shares Bought by Marshall Wace LLP

Marshall Wace LLP grew its holdings in Matthews International Co. (NASDAQ:MATW - Free Report) by 201.1% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 45,732 shares of the company's stock after acquiring an additional 30,543 shares during the quarter. Marshall Wace LLP owned about 0.15% of Matthews International worth $1,146,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Public Sector Pension Investment Board increased its holdings in shares of Matthews International by 6.9% in the 2nd quarter. Public Sector Pension Investment Board now owns 67,590 shares of the company's stock valued at $1,693,000 after acquiring an additional 4,365 shares during the last quarter. Inspire Investing LLC increased its holdings in shares of Matthews International by 20.0% in the 2nd quarter. Inspire Investing LLC now owns 15,590 shares of the company's stock valued at $391,000 after acquiring an additional 2,598 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of Matthews International in the 2nd quarter valued at about $246,000. Renaissance Technologies LLC purchased a new position in shares of Matthews International in the 2nd quarter valued at about $725,000. Finally, American Century Companies Inc. increased its holdings in shares of Matthews International by 15.2% in the 2nd quarter. American Century Companies Inc. now owns 42,213 shares of the company's stock valued at $1,057,000 after acquiring an additional 5,573 shares during the last quarter. Hedge funds and other institutional investors own 83.08% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, B. Riley dropped their price objective on Matthews International from $54.00 to $40.00 and set a "buy" rating on the stock in a report on Thursday, September 26th.

Matthews International Stock Performance

Shares of NASDAQ MATW traded down $0.56 during trading hours on Monday, reaching $21.36. The stock had a trading volume of 291,146 shares, compared to its average volume of 154,143. The firm has a market cap of $655.97 million, a price-to-earnings ratio of 20.15 and a beta of 1.07. The company has a current ratio of 1.66, a quick ratio of 1.02 and a debt-to-equity ratio of 1.64. Matthews International Co. has a fifty-two week low of $21.15 and a fifty-two week high of $40.80. The firm has a 50-day moving average of $24.52 and a 200-day moving average of $26.30.

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

Matthews International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Monday, August 5th were given a $0.24 dividend. The ex-dividend date was Monday, August 5th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.49%. Matthews International's dividend payout ratio (DPR) is presently 90.57%.

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.