Phoenix Financial Ltd. Grows Holdings in Matthews International Co. (NASDAQ:MATW)

Phoenix Financial Ltd. raised its holdings in shares of Matthews International Co. (NASDAQ:MATW - Free Report) by 1.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,523,362 shares of the company's stock after purchasing an additional 28,189 shares during the period. Phoenix Financial Ltd. owned 4.92% of Matthews International worth $42,167,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Invesco Ltd. increased its position in Matthews International by 13.9% during the 4th quarter. Invesco Ltd. now owns 278,782 shares of the company's stock valued at $7,717,000 after buying an additional 34,062 shares in the last quarter. Quadrant Capital Group LLC increased its holdings in shares of Matthews International by 551.8% during the fourth quarter. Quadrant Capital Group LLC now owns 906 shares of the company's stock valued at $25,000 after acquiring an additional 767 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of Matthews International by 1,718.7% in the 4th quarter. Russell Investments Group Ltd. now owns 85,662 shares of the company's stock valued at $2,371,000 after purchasing an additional 80,952 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Matthews International by 27.6% in the 4th quarter. Wells Fargo & Company MN now owns 19,479 shares of the company's stock worth $539,000 after purchasing an additional 4,217 shares in the last quarter. Finally, ExodusPoint Capital Management LP grew its position in Matthews International by 196.2% during the 4th quarter. ExodusPoint Capital Management LP now owns 46,279 shares of the company's stock worth $1,281,000 after purchasing an additional 30,654 shares during the last quarter. Hedge funds and other institutional investors own 83.08% of the company's stock.

Matthews International Stock Performance

Shares of NASDAQ MATW traded down $0.18 during midday trading on Tuesday, reaching $20.91. The company had a trading volume of 53,100 shares, compared to its average volume of 181,363. The stock has a market cap of $647.56 million, a P/E ratio of -10.61 and a beta of 1.07. The company has a current ratio of 1.58, a quick ratio of 0.96 and a debt-to-equity ratio of 1.94. Matthews International Co. has a 1 year low of $18.50 and a 1 year high of $32.24. The business's 50-day simple moving average is $23.28 and its 200 day simple moving average is $25.48.

Matthews International (NASDAQ:MATW - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.14 EPS for the quarter, missing analysts' consensus estimates of $0.26 by ($0.12). Matthews International had a positive return on equity of 12.88% and a negative net margin of 3.48%. On average, analysts forecast that Matthews International Co. will post 1.73 earnings per share for the current fiscal year.

Matthews International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 24th. Shareholders of record on Monday, February 10th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 4.78%. The ex-dividend date was Monday, February 10th. Matthews International's dividend payout ratio is presently -50.76%.

Matthews International Company 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.