Polar Asset Management Partners Inc. Has $10.41 Million Stock Position in Matthews International Corporation $MATW

Polar Asset Management Partners Inc. lowered its position in Matthews International Corporation (NASDAQ:MATW) by 40.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 428,533 shares of the company’s stock after selling 292,875 shares during the quarter. Polar Asset Management Partners Inc. owned 1.39% of Matthews International worth $10,405,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. Ameriprise Financial Inc. raised its stake 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. Dimensional Fund Advisors LP lifted its position in Matthews International by 0.9% in the third quarter. Dimensional Fund Advisors LP now owns 1,500,476 shares of the company’s stock worth $36,430,000 after purchasing an additional 13,194 shares during the period. Gamco Investors INC. ET AL boosted its stake in Matthews International by 2.3% during the third quarter. Gamco Investors INC. ET AL now owns 1,417,311 shares of the company’s stock worth $34,412,000 after buying an additional 31,266 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Matthews International by 5.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,053,433 shares of the company’s stock valued at $25,346,000 after buying an additional 53,035 shares during the period. Finally, Boston Partners increased its holdings in Matthews International by 111.4% in the 2nd quarter. Boston Partners now owns 962,799 shares of the company’s stock valued at $23,021,000 after buying an additional 507,324 shares during the period. Institutional investors and hedge funds own 83.08% of the company’s stock.

Matthews International Price Performance

Shares of MATW stock opened at $24.37 on Thursday. The stock’s fifty day simple moving average is $26.44 and its 200 day simple moving average is $25.33. Matthews International Corporation has a one year low of $18.50 and a one year high of $29.11. The firm has a market cap of $758.64 million, a price-to-earnings ratio of 34.32 and a beta of 1.16. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.51 and a quick ratio of 0.91.

Matthews International (NASDAQ:MATW) last released its quarterly earnings data on Wednesday, February 4th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.24). Matthews International had a return on equity of 5.95% and a net margin of 1.64%.The company had revenue of $284.76 million for the quarter, compared to analyst estimates of $282.50 million. On average, analysts expect that Matthews International Corporation will post 1.73 earnings per share for the current fiscal year.

Matthews International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 23rd. Investors of record on Monday, February 9th were issued a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend was Monday, February 9th. Matthews International’s dividend payout ratio (DPR) is currently 143.66%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on MATW shares. Zacks Research downgraded shares of Matthews International from a “hold” rating to a “strong sell” rating in a report on Monday, January 19th. Weiss Ratings raised shares of Matthews International from a “sell (d)” rating to a “hold (c)” rating in a research note on Friday, February 6th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce”.

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.