Matthews International Corporation $MATW Shares Sold by CenterBook Partners LP

CenterBook Partners LP lessened its holdings in Matthews International Corporation (NASDAQ:MATW) by 37.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 87,580 shares of the company’s stock after selling 52,892 shares during the period. CenterBook Partners LP’s holdings in Matthews International were worth $2,288,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC lifted its stake in Matthews International by 2.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,075,479 shares of the company’s stock valued at $27,887,000 after buying an additional 22,046 shares in the last quarter. Gamco Investors INC. ET AL increased its position in Matthews International by 9.7% during the fourth quarter. Gamco Investors INC. ET AL now owns 1,554,105 shares of the company’s stock worth $40,593,000 after buying an additional 136,794 shares in the last quarter. Peapack Gladstone Financial Corp acquired a new position in shares of Matthews International in the fourth quarter worth $679,000. Equitable Trust Co. raised its holdings in shares of Matthews International by 223.6% in the fourth quarter. Equitable Trust Co. now owns 29,045 shares of the company’s stock worth $759,000 after acquiring an additional 20,070 shares during the last quarter. Finally, UBS Group AG lifted its position in shares of Matthews International by 45.2% in the fourth quarter. UBS Group AG now owns 151,700 shares of the company’s stock valued at $3,962,000 after acquiring an additional 47,246 shares in the last quarter. 83.08% of the stock is currently owned by institutional investors and hedge funds.

Matthews International Stock Performance

Matthews International stock opened at $25.53 on Wednesday. The stock has a fifty day moving average price of $26.89 and a 200 day moving average price of $26.38. Matthews International Corporation has a 52 week low of $20.74 and a 52 week high of $30.93. The firm has a market capitalization of $796.54 million, a P/E ratio of 82.35 and a beta of 1.08. The company has a current ratio of 1.64, a quick ratio of 0.97 and a debt-to-equity ratio of 1.12.

Matthews International (NASDAQ:MATW) last posted its quarterly earnings results on Thursday, April 30th. The company reported $0.37 EPS for the quarter, beating the consensus estimate of $0.17 by $0.20. The company had revenue of $258.62 million during the quarter, compared to analysts’ expectations of $253.65 million. Matthews International had a return on equity of 5.88% and a net margin of 0.80%. Equities research analysts anticipate that Matthews International Corporation will post 1.09 earnings per share for the current year.

Matthews International Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 25th. Stockholders of record on Monday, May 11th were paid a $0.255 dividend. This represents a $1.02 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend was Monday, May 11th. Matthews International’s payout ratio is currently 329.03%.

Analyst Ratings Changes

Several brokerages recently weighed in on MATW. Weiss Ratings downgraded shares of Matthews International from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, May 6th. Wall Street Zen cut shares of Matthews International from a “buy” rating to a “hold” rating in a research note on Sunday, May 10th. Finally, Zacks Research upgraded shares of Matthews International from a “strong sell” rating to a “hold” rating in a report on Monday, April 6th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce”.

Matthews International Profile

Matthews International Corporation (NASDAQ:MATW) is a diversified industrial company headquartered in Pittsburgh, Pennsylvania. The company operates through two primary business segments—Brand Solutions and Memorialization—offering a broad range of products and services designed to meet the needs of industrial manufacturers, brand marketers and the funeral industry worldwide.

In its Brand Solutions segment, Matthews International provides engraving and digital printing systems, automated finishing equipment, thermal management products and electronics assembly solutions.