Ameriprise Financial Inc. Increases Stock Holdings in Matthews International Co. (NASDAQ:MATW)

Ameriprise Financial Inc. boosted its stake in Matthews International Co. (NASDAQ:MATW) by 10.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,854,343 shares of the company’s stock after buying an additional 168,970 shares during the quarter. Ameriprise Financial Inc. owned approximately 5.99% of Matthews International worth $51,328,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Barclays PLC lifted its position in shares of Matthews International by 375.4% during the third quarter. Barclays PLC now owns 52,823 shares of the company’s stock valued at $1,225,000 after purchasing an additional 41,711 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Matthews International by 14.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 50,279 shares of the company’s stock worth $1,166,000 after buying an additional 6,514 shares during the last quarter. Waldron Private Wealth LLC bought a new position in shares of Matthews International in the fourth quarter valued at approximately $213,000. Allspring Global Investments Holdings LLC lifted its holdings in Matthews International by 10.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 781,592 shares of the company’s stock worth $21,126,000 after acquiring an additional 73,240 shares during the period. Finally, Rhumbline Advisers lifted its holdings in Matthews International by 3.3% during the fourth quarter. Rhumbline Advisers now owns 92,695 shares of the company’s stock worth $2,566,000 after acquiring an additional 2,921 shares during the period. 83.08% of the stock is currently owned by institutional investors.

Matthews International Trading Up 2.9 %

Shares of Matthews International stock opened at $20.41 on Friday. The firm has a market cap of $632.89 million, a PE ratio of -10.36 and a beta of 1.20. Matthews International Co. has a 1 year low of $18.50 and a 1 year high of $32.24. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.58 and a quick ratio of 0.96. The stock has a fifty day moving average price of $21.30 and a 200-day moving average price of $25.17.

Matthews International (NASDAQ:MATW) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.02). Matthews International had a positive return on equity of 12.88% and a negative net margin of 3.48%. The company had revenue of $427.63 million during the quarter, compared to the consensus estimate of $435.62 million. Equities research analysts anticipate that Matthews International Co. will post 1.73 EPS for the current year.

Matthews International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 26th. Stockholders of record on Monday, May 12th will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, May 12th. This represents a $1.00 annualized dividend and a dividend yield of 4.90%. Matthews International’s payout ratio is -39.22%.

Matthews International Company 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.