Gabelli Funds LLC Grows Stake in Matthews International Co. (NASDAQ:MATW)

Gabelli Funds LLC grew its stake in Matthews International Co. (NASDAQ:MATWFree Report) by 1.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 142,246 shares of the company’s stock after purchasing an additional 1,896 shares during the period. Gabelli Funds LLC owned approximately 0.46% of Matthews International worth $5,213,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of MATW. Covestor Ltd raised its position in Matthews International by 15,914.3% in the 3rd quarter. Covestor Ltd now owns 1,121 shares of the company’s stock worth $43,000 after purchasing an additional 1,114 shares during the period. Smithfield Trust Co grew its stake in shares of Matthews International by 300.0% during the fourth quarter. Smithfield Trust Co now owns 2,800 shares of the company’s stock valued at $104,000 after buying an additional 2,100 shares during the last quarter. D.A. Davidson & CO. purchased a new stake in shares of Matthews International in the third quarter worth approximately $211,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Matthews International by 17.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,841 shares of the company’s stock worth $214,000 after buying an additional 879 shares during the period. Finally, Victory Capital Management Inc. lifted its stake in shares of Matthews International by 15.7% during the 4th quarter. Victory Capital Management Inc. now owns 6,027 shares of the company’s stock worth $221,000 after acquiring an additional 816 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 opened at $27.44 on Friday. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.12 and a current ratio of 1.82. The firm has a market cap of $842.68 million, a PE ratio of 25.89 and a beta of 1.11. The firm’s 50 day simple moving average is $27.95 and its 200-day simple moving average is $30.92. Matthews International Co. has a one year low of $25.42 and a one year high of $48.86.

Matthews International (NASDAQ:MATWGet Free Report) last issued its earnings results on Thursday, May 2nd. The company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.24. Matthews International had a return on equity of 16.75% and a net margin of 1.77%. The business had revenue of $471.22 million during the quarter, compared to analyst estimates of $469.38 million. As a group, equities analysts predict that Matthews International Co. will post 2.53 EPS for the current year.

Matthews International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, May 20th. Shareholders of record on Monday, May 6th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 3.50%. The ex-dividend date of this dividend was Friday, May 3rd. Matthews International’s payout ratio is 90.57%.

Analyst Upgrades and Downgrades

Separately, lowered Matthews International from a “buy” rating to a “hold” rating in a research note on Friday, February 9th.

Check Out Our Latest Stock Report on MATW

Matthews International Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Matthews International (NASDAQ:MATW)

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