Arizona State Retirement System Buys New Shares in Matthews International Co. (NASDAQ:MATW)

Arizona State Retirement System bought a new stake in shares of Matthews International Co. (NASDAQ:MATW – Get Rating) during the 4th quarter, Holdings Channel reports. The firm bought 7,773 shares of the company’s stock, valued at approximately $237,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. US Bancorp DE lifted its position in Matthews International by 92.3% during the first quarter. US Bancorp DE now owns 854 shares of the company’s stock valued at $28,000 after purchasing an additional 410 shares in the last quarter. Cruiser Capital Advisors LLC purchased a new position in shares of Matthews International in the first quarter valued at about $32,000. US Asset Management LLC purchased a new position in shares of Matthews International in the fourth quarter valued at about $43,000. Federated Hermes Inc. lifted its position in shares of Matthews International by 728.5% in the first quarter. Federated Hermes Inc. now owns 1,715 shares of the company’s stock valued at $55,000 after acquiring an additional 1,508 shares in the last quarter. Finally, Captrust Financial Advisors lifted its position in shares of Matthews International by 196.8% in the first quarter. Captrust Financial Advisors now owns 1,739 shares of the company’s stock valued at $56,000 after acquiring an additional 1,153 shares in the last quarter. 81.25% of the stock is currently owned by hedge funds and other institutional investors.

Matthews International Trading Up 2.1 %

Shares of MATW stock opened at $40.13 on Wednesday. Matthews International Co. has a 12-month low of $22.12 and a 12-month high of $40.49. The company has a current ratio of 1.57, a quick ratio of 0.92 and a debt-to-equity ratio of 1.51. The stock’s 50-day moving average price is $36.95 and its 200-day moving average price is $35.08. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of -18.84 and a beta of 1.13.

Matthews International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, May 22nd. Stockholders of record on Monday, May 8th were issued a $0.23 dividend. The ex-dividend date was Friday, May 5th. This represents a $0.92 annualized dividend and a dividend yield of 2.29%. Matthews International’s dividend payout ratio (DPR) is -43.19%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on MATW shares. StockNews.com started coverage on Matthews International in a research report on Thursday, May 18th. They issued a “buy” rating on the stock. B. Riley boosted their price objective on Matthews International from $45.00 to $50.00 in a research report on Monday, May 1st. Finally, TheStreet raised Matthews International from a “c” rating to a “b-” rating in a report on Friday, April 28th.

About Matthews International

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Matthews International Corp. engages in the provision of brand solutions, memorialization products, and industrial technologies. It operates through the following segments: Memorialization, Industrial Technologies, and SGK Brand Solutions. The Memorialization segment consists of bronze and granite memorials, and other memorialization products, caskets and cremation and incineration equipment for the cemetery and funeral home industries.