State Street Corp Grows Stake in Matthews International Co. (NASDAQ:MATW)

State Street Corp boosted its holdings in shares of Matthews International Co. (NASDAQ:MATW - Free Report) by 6.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,208,505 shares of the company's stock after purchasing an additional 76,911 shares during the period. State Street Corp owned approximately 3.95% of Matthews International worth $28,037,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of MATW. KBC Group NV lifted its holdings in shares of Matthews International by 63.7% during the third quarter. KBC Group NV now owns 1,937 shares of the company's stock worth $45,000 after purchasing an additional 754 shares during the period. Point72 DIFC Ltd purchased a new position in Matthews International during the 2nd quarter worth $49,000. nVerses Capital LLC purchased a new stake in shares of 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. Finally, BNP Paribas Financial Markets raised its holdings in Matthews International by 7.7% during the third quarter. BNP Paribas Financial Markets now owns 6,602 shares of the company's stock worth $153,000 after purchasing an additional 471 shares in the last quarter. 83.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, B. Riley reduced their price objective 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.

Matthews International Price Performance

NASDAQ:MATW traded down $0.18 during trading hours on Monday, hitting $27.37. The company's stock had a trading volume of 128,790 shares, compared to its average volume of 159,146. Matthews International Co. has a 52-week low of $21.09 and a 52-week high of $39.12. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.91 and a current ratio of 1.45. The business's 50-day moving average is $26.24 and its two-hundred day moving average is $25.38. The company has a market capitalization of $837.52 million, a PE ratio of -14.18 and a beta of 1.13.

Matthews International Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.65%. The ex-dividend date was Monday, December 2nd. This is an increase from Matthews International's previous quarterly dividend of $0.24. Matthews International's dividend payout ratio (DPR) is currently -51.81%.

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.