Gamco Investors INC. ET AL Increases Stake in Matthews International Corporation $MATW

Gamco Investors INC. ET AL raised its stake in shares of Matthews International Corporation (NASDAQ:MATW) by 9.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,554,105 shares of the company’s stock after acquiring an additional 136,794 shares during the period. Gamco Investors INC. ET AL’s holdings in Matthews International were worth $40,593,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in MATW. Private Capital Management LLC purchased a new position in shares of Matthews International in the third quarter valued at $8,215,000. Cannell Capital LLC purchased a new position in shares of Matthews International in the second quarter valued at $5,926,000. Ameriprise Financial Inc. grew its holdings in shares of Matthews International by 9.0% in the second quarter. Ameriprise Financial Inc. now owns 1,664,426 shares of the company’s stock valued at $39,796,000 after purchasing an additional 137,015 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Matthews International by 498,188.2% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 84,709 shares of the company’s stock valued at $2,213,000 after purchasing an additional 84,692 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of Matthews International in the second quarter valued at $1,406,000. 83.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MATW. Zacks Research raised shares of Matthews International from a “strong sell” rating to a “hold” rating in a report on Monday, April 6th. Weiss Ratings lowered shares of Matthews International from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, May 6th. Finally, Wall Street Zen lowered shares of Matthews International from a “buy” rating to a “hold” rating in a report on Sunday, May 10th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Reduce”.

Matthews International Price Performance

Shares of MATW opened at $26.51 on Monday. The company has a market cap of $827.11 million, a PE ratio of 85.52 and a beta of 1.12. The business has a fifty day moving average of $26.45 and a 200 day moving average of $26.07. Matthews International Corporation has a 52-week low of $19.87 and a 52-week high of $30.93. The company has a quick ratio of 0.97, a current ratio of 1.64 and a debt-to-equity ratio of 1.12.

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

Matthews International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 25th. Investors of record on Monday, May 11th will be given a $0.255 dividend. The ex-dividend date is Monday, May 11th. This represents a $1.02 dividend on an annualized basis and a yield of 3.8%. Matthews International’s dividend payout ratio (DPR) is currently 329.03%.

About Matthews International

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.