Bailard Inc. Buys Shares of 15,800 Matthews International Co. (NASDAQ:MATW)

Bailard Inc. bought a new stake in shares of Matthews International Co. (NASDAQ:MATW) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 15,800 shares of the company’s stock, valued at approximately $579,000.

Other large investors have also made changes to their positions in the company. Covestor Ltd grew its stake in shares of Matthews International by 15,914.3% in the 3rd quarter. Covestor Ltd now owns 1,121 shares of the company’s stock valued at $43,000 after buying an additional 1,114 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Matthews International by 39.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,962 shares of the company’s stock valued at $193,000 after buying an additional 1,401 shares in the last quarter. D.A. Davidson & CO. bought a new stake in shares of Matthews International in the 3rd quarter valued at approximately $211,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Matthews International by 17.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,841 shares of the company’s stock valued at $214,000 after buying an additional 879 shares in the last quarter. Finally, Dark Forest Capital Management LP bought a new stake in shares of Matthews International in the 3rd quarter valued at approximately $420,000. Institutional investors own 83.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. B. Riley lowered their price target on Matthews International from $61.00 to $59.00 and set a “buy” rating for the company in a research note on Monday, February 5th. StockNews.com cut Matthews International from a “buy” rating to a “hold” rating in a research note on Friday, February 9th.

Matthews International Stock Down 1.5 %

Shares of Matthews International stock opened at $27.15 on Friday. The stock has a market capitalization of $832.96 million, a P/E ratio of 25.61 and a beta of 1.12. The company has a quick ratio of 1.15, a current ratio of 1.88 and a debt-to-equity ratio of 1.69. The stock has a 50 day moving average price of $28.43 and a two-hundred day moving average price of $32.71. Matthews International Co. has a 12-month low of $25.42 and a 12-month high of $48.86.

Matthews International (NASDAQ:MATW) last announced its earnings results on Thursday, February 1st. The company reported $0.37 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.37. The firm had revenue of $449.99 million during the quarter, compared to analysts’ expectations of $437.77 million. Matthews International had a return on equity of 16.44% and a net margin of 1.77%. Equities analysts expect that Matthews International Co. will post 2.6 earnings per share for the current year.

Matthews International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, May 6th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $0.96 dividend on an annualized basis and a yield of 3.54%. Matthews International’s payout ratio is currently 90.57%.

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.