Renaissance Technologies LLC Buys New Stake in Matthews International Co. (NASDAQ:MATW)

Renaissance Technologies LLC acquired a new position in shares of Matthews International Co. (NASDAQ:MATW - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 28,953 shares of the company's stock, valued at approximately $725,000. Renaissance Technologies LLC owned 0.09% of Matthews International at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of MATW. PNC Financial Services Group Inc. raised its holdings in Matthews International by 267.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 19,269 shares of the company's stock worth $706,000 after buying an additional 14,030 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Matthews International by 25.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 587,477 shares of the company's stock worth $18,259,000 after buying an additional 117,461 shares during the period. BNP Paribas Financial Markets increased its holdings in shares of Matthews International by 18.7% in the 1st quarter. BNP Paribas Financial Markets now owns 14,873 shares of the company's stock valued at $462,000 after purchasing an additional 2,344 shares during the period. Texas Permanent School Fund Corp increased its holdings in shares of Matthews International by 2.0% in the 1st quarter. Texas Permanent School Fund Corp now owns 26,853 shares of the company's stock valued at $835,000 after purchasing an additional 533 shares during the period. Finally, Inspire Investing LLC lifted its position in shares of Matthews International by 12.3% in the first quarter. Inspire Investing LLC now owns 12,992 shares of the company's stock worth $404,000 after purchasing an additional 1,428 shares in the last quarter. Institutional investors and hedge funds own 83.08% of the company's stock.

Matthews International Stock Up 0.5 %

Shares of NASDAQ:MATW traded up $0.10 during midday trading on Wednesday, hitting $21.66. 181,045 shares of the stock were exchanged, compared to its average volume of 154,371. The business's fifty day simple moving average is $24.37 and its two-hundred day simple moving average is $26.24. 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 Co. has a 52-week low of $21.09 and a 52-week high of $40.80. The company has a market capitalization of $665.18 million, a PE ratio of 20.25 and a beta of 1.07.

Matthews International (NASDAQ:MATW - Get Free Report) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $450.03 million. During the same quarter in the prior year, the firm earned $0.74 earnings per share. As a group, research analysts predict that Matthews International Co. will post 2.53 earnings per share for the current fiscal year.

Matthews International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Monday, August 5th were paid a dividend of $0.24 per share. The ex-dividend date was Monday, August 5th. This represents a $0.96 annualized dividend and a dividend yield of 4.43%. Matthews International's dividend payout ratio (DPR) is 90.57%.

Wall Street Analyst Weigh In

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

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.