Boston Partners Grows Stake in Matthews International Corporation (NASDAQ:MATW)

Boston Partners boosted its holdings in Matthews International Corporation (NASDAQ:MATW) by 1,696.7% in the 1st quarter, HoldingsChannel.com reports. The firm owned 455,475 shares of the company’s stock after purchasing an additional 430,125 shares during the period. Boston Partners’ holdings in Matthews International were worth $10,126,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in MATW. JPMorgan Chase & Co. lifted its stake in Matthews International by 46.7% in the fourth quarter. JPMorgan Chase & Co. now owns 73,771 shares of the company’s stock worth $2,042,000 after purchasing an additional 23,492 shares during the last quarter. Wells Fargo & Company MN lifted its stake in Matthews International by 27.6% in the fourth quarter. Wells Fargo & Company MN now owns 19,479 shares of the company’s stock worth $539,000 after purchasing an additional 4,217 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in Matthews International by 1,718.7% in the fourth quarter. Russell Investments Group Ltd. now owns 85,662 shares of the company’s stock worth $2,371,000 after purchasing an additional 80,952 shares during the last quarter. Invesco Ltd. lifted its stake in Matthews International by 13.9% in the fourth quarter. Invesco Ltd. now owns 278,782 shares of the company’s stock worth $7,717,000 after purchasing an additional 34,062 shares during the last quarter. Finally, Sterling Capital Management LLC lifted its stake in Matthews International by 797.2% in the fourth quarter. Sterling Capital Management LLC now owns 951 shares of the company’s stock worth $26,000 after purchasing an additional 845 shares during the last quarter. 83.08% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of Matthews International from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th.

Matthews International Stock Performance

Shares of NASDAQ:MATW opened at $23.77 on Friday. The company has a market cap of $731.88 million, a price-to-earnings ratio of -11.21 and a beta of 1.24. The company has a 50-day moving average price of $23.82 and a 200-day moving average price of $22.94. The company has a current ratio of 1.66, a quick ratio of 0.98 and a debt-to-equity ratio of 1.35. Matthews International Corporation has a 12 month low of $18.50 and a 12 month high of $32.24.

Matthews International (NASDAQ:MATW) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.05). The firm had revenue of $349.40 million for the quarter, compared to the consensus estimate of $321.95 million. Matthews International had a negative net margin of 4.01% and a positive return on equity of 9.15%. As a group, equities analysts anticipate that Matthews International Corporation will post 1.73 EPS for the current year.

Matthews International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 25th. Stockholders of record on Monday, August 11th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend is Monday, August 11th. Matthews International’s dividend payout ratio is -47.17%.

Matthews International 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.