Matthews International Co. (NASDAQ:MATW) Sees Significant Growth in Short Interest

Matthews International Co. (NASDAQ:MATWGet Rating) was the recipient of a large increase in short interest in the month of July. As of July 15th, there was short interest totalling 661,700 shares, an increase of 17.6% from the June 30th total of 562,500 shares. Based on an average trading volume of 114,700 shares, the days-to-cover ratio is currently 5.8 days. Approximately 2.3% of the company’s shares are sold short.

Institutional Investors Weigh In On Matthews International

Several large investors have recently modified their holdings of the company. BlackRock Inc. increased its position in shares of Matthews International by 0.3% during the first quarter. BlackRock Inc. now owns 5,406,300 shares of the company’s stock worth $174,948,000 after buying an additional 14,222 shares during the period. Vanguard Group Inc. boosted its stake in Matthews International by 2.2% during the first quarter. Vanguard Group Inc. now owns 3,491,378 shares of the company’s stock worth $112,981,000 after acquiring an additional 74,954 shares in the last quarter. Phoenix Holdings Ltd. boosted its stake in Matthews International by 15.0% during the first quarter. Phoenix Holdings Ltd. now owns 1,840,204 shares of the company’s stock worth $59,558,000 after acquiring an additional 239,744 shares in the last quarter. Gamco Investors INC. ET AL boosted its stake in Matthews International by 5.5% during the first quarter. Gamco Investors INC. ET AL now owns 1,152,150 shares of the company’s stock worth $37,284,000 after acquiring an additional 60,100 shares in the last quarter. Finally, State Street Corp boosted its stake in Matthews International by 3.5% during the first quarter. State Street Corp now owns 1,125,043 shares of the company’s stock worth $36,406,000 after acquiring an additional 37,960 shares in the last quarter. 80.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, B. Riley decreased their price target on shares of Matthews International from $50.00 to $45.00 and set a “buy” rating for the company in a research report on Wednesday, July 20th.

Matthews International Trading Down 1.5 %

MATW opened at $25.98 on Friday. Matthews International has a twelve month low of $25.86 and a twelve month high of $39.76. The company has a quick ratio of 1.25, a current ratio of 1.93 and a debt-to-equity ratio of 1.31. The company has a fifty day moving average of $28.76 and a 200-day moving average of $31.23. The stock has a market cap of $795.14 million, a PE ratio of -36.59 and a beta of 1.02.

Matthews International Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 22nd. Stockholders of record on Monday, August 8th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, August 5th. This is a boost from Matthews International’s previous quarterly dividend of $0.13. This represents a $0.88 annualized dividend and a dividend yield of 3.39%. Matthews International’s dividend payout ratio is -123.94%.

Matthews International Company Profile

(Get Rating)

Matthews International Corporation provides brand solutions, memorialization products, and industrial technologies worldwide. It operates through three segments: SGK Brand Solutions, Memorialization, and Industrial Technologies. The SGK Brand solutions segment provides brand management, pre-media services, printing plates and cylinders, engineered products, imaging services, digital asset management, merchandising display systems, and marketing and design services for the consumer goods and retail industries.

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