UBS Group AG Raises Position in Matthews International Corporation $MATW

UBS Group AG boosted its stake in Matthews International Corporation (NASDAQ:MATW) by 45.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 151,700 shares of the company’s stock after buying an additional 47,246 shares during the quarter. UBS Group AG’s holdings in Matthews International were worth $3,962,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its holdings in Matthews International by 2.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,075,479 shares of the company’s stock worth $27,887,000 after buying an additional 22,046 shares during the period. Gamco Investors INC. ET AL lifted its holdings in Matthews International by 2.3% in 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 during the period. CenterBook Partners LP lifted its holdings in Matthews International by 21.5% in the third quarter. CenterBook Partners LP now owns 140,472 shares of the company’s stock worth $3,411,000 after buying an additional 24,859 shares during the period. Cannell Capital LLC lifted its holdings in Matthews International by 7.9% in the third quarter. Cannell Capital LLC now owns 267,369 shares of the company’s stock worth $6,492,000 after buying an additional 19,542 shares during the period. Finally, Gabelli Funds LLC lifted its holdings in Matthews International by 1.5% in the third quarter. Gabelli Funds LLC now owns 165,436 shares of the company’s stock worth $4,017,000 after buying an additional 2,500 shares during the period. 83.08% of the stock is currently owned by hedge funds and other institutional investors.

Matthews International Price Performance

Shares of MATW opened at $26.76 on Friday. The company has a market capitalization of $834.91 million, a P/E ratio of 86.32 and a beta of 1.12. The company has a quick ratio of 0.97, a current ratio of 1.64 and a debt-to-equity ratio of 1.12. The firm has a 50 day moving average of $26.54 and a 200 day moving average of $26.18. Matthews International Corporation has a twelve month low of $20.14 and a twelve month high of $30.93.

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

Matthews International Dividend Announcement

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

Analyst Ratings Changes

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

Matthews International Company 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.