State of New Jersey Common Pension Fund D Acquires 16,186 Shares of Matthews International Co. (NASDAQ:MATW)

State of New Jersey Common Pension Fund D grew its holdings in Matthews International Co. (NASDAQ:MATW – Get Rating) by 22.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 89,871 shares of the company’s stock after purchasing an additional 16,186 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Matthews International were worth $2,014,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. US Bancorp DE boosted its stake in shares of Matthews International by 92.3% in the 1st quarter. US Bancorp DE now owns 854 shares of the company’s stock valued at $28,000 after purchasing an additional 410 shares during the last quarter. Cruiser Capital Advisors LLC bought a new position in Matthews International during the 1st quarter worth approximately $32,000. Whittier Trust Co. bought a new position in Matthews International during the 3rd quarter worth approximately $34,000. Federated Hermes Inc. boosted its stake in Matthews International by 728.5% during the 1st quarter. Federated Hermes Inc. now owns 1,715 shares of the company’s stock worth $55,000 after acquiring an additional 1,508 shares during the last quarter. Finally, Captrust Financial Advisors boosted its stake in Matthews International by 196.8% during the 1st quarter. Captrust Financial Advisors now owns 1,739 shares of the company’s stock worth $56,000 after acquiring an additional 1,153 shares during the last quarter. Institutional investors own 81.25% of the company’s stock.

Matthews International Stock Performance

Shares of MATW stock opened at $36.32 on Friday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.98 and a current ratio of 1.53. The company has a market capitalization of $1.10 billion, a P/E ratio of -11.28 and a beta of 1.11. The company’s 50 day moving average price is $32.05 and its two-hundred day moving average price is $27.90. Matthews International Co. has a 52 week low of $22.12 and a 52 week high of $37.90.

Matthews International (NASDAQ:MATW – Get Rating) last announced its earnings results on Thursday, November 17th. The company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.75 by $0.07. The firm had revenue of $457.13 million for the quarter, compared to the consensus estimate of $415.53 million. Matthews International had a negative net margin of 5.66% and a positive return on equity of 15.37%. On average, analysts expect that Matthews International Co. will post 2.87 earnings per share for the current fiscal year.

Matthews International Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 12th. Stockholders of record on Monday, November 28th were issued a $0.23 dividend. The ex-dividend date of this dividend was Friday, November 25th. This is an increase from Matthews International’s previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.53%. Matthews International’s dividend payout ratio (DPR) is -28.57%.

Insider Activity

In other news, CEO Joseph C. Bartolacci sold 10,000 shares of Matthews International stock in a transaction that occurred on Monday, November 21st. The shares were sold at an average price of $30.17, for a total value of $301,700.00. Following the sale, the chief executive officer now directly owns 345,117 shares in the company, valued at $10,412,179.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 3.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on shares of Matthews International in a research note on Wednesday, October 12th. They set a “buy” rating on the stock.

About Matthews International

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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, emblems, lights, photo ceramics, caskets, and cremation and incineration equipment for the cemetery and funeral home industries.