Ameriprise Financial Inc. Boosts Stock Position in Matthews International Co. (NASDAQ:MATW)

Ameriprise Financial Inc. increased its stake in Matthews International Co. (NASDAQ:MATW) by 10.0% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,854,343 shares of the company’s stock after purchasing an additional 168,970 shares during the quarter. Ameriprise Financial Inc. owned about 0.06% of Matthews International worth $51,328,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MATW. Quadrant Capital Group LLC increased its position in shares of Matthews International by 551.8% during the fourth quarter. Quadrant Capital Group LLC now owns 906 shares of the company’s stock valued at $25,000 after buying an additional 767 shares during the period. Sterling Capital Management LLC increased its holdings in Matthews International by 797.2% during the 4th quarter. Sterling Capital Management LLC now owns 951 shares of the company’s stock worth $26,000 after acquiring an additional 845 shares during the period. Smartleaf Asset Management LLC lifted its stake in Matthews International by 1,865.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,500 shares of the company’s stock worth $125,000 after purchasing an additional 4,271 shares in the last quarter. AlphaQuest LLC bought a new position in Matthews International in the 4th quarter valued at $154,000. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Matthews International during the 4th quarter valued at $155,000. 83.08% of the stock is currently owned by institutional investors.

Matthews International Trading Up 2.9 %

Shares of MATW stock opened at $20.41 on Friday. The company has a market capitalization of $632.89 million, a PE ratio of -10.36 and a beta of 1.20. Matthews International Co. has a 52-week low of $18.50 and a 52-week high of $32.24. The business’s fifty day moving average is $21.30 and its 200 day moving average is $25.17. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.96 and a current ratio of 1.58.

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

Matthews International Announces Dividend

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

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.