Skylands Capital LLC Purchases 13,950 Shares of Matthews International Co. (NASDAQ:MATW)

Skylands Capital LLC raised its position in Matthews International Co. (NASDAQ:MATW) by 620.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,200 shares of the company’s stock after acquiring an additional 13,950 shares during the quarter. Skylands Capital LLC’s holdings in Matthews International were worth $594,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Allspring Global Investments Holdings LLC increased its position in shares of Matthews International by 53.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 470,016 shares of the company’s stock valued at $17,226,000 after purchasing an additional 163,984 shares during the last quarter. Gabelli Funds LLC raised its position in Matthews International by 3.3% in the third quarter. Gabelli Funds LLC now owns 140,350 shares of the company’s stock worth $5,461,000 after acquiring an additional 4,500 shares during the period. Campbell Capital Management Inc. bought a new position in Matthews International in the fourth quarter worth approximately $4,236,000. Jupiter Asset Management Ltd. purchased a new position in shares of Matthews International during the 3rd quarter worth $3,882,000. Finally, Rhumbline Advisers grew its position in shares of Matthews International by 1.1% during the 3rd quarter. Rhumbline Advisers now owns 97,763 shares of the company’s stock valued at $3,804,000 after acquiring an additional 1,038 shares during the period. 83.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. StockNews.com cut Matthews International from a “buy” rating to a “hold” rating in a report on Friday, February 9th. B. Riley decreased their price objective on Matthews International from $61.00 to $59.00 and set a “buy” rating on the stock in a research note on Monday, February 5th.

Matthews International Stock Down 1.2 %

MATW opened at $27.23 on Tuesday. Matthews International Co. has a fifty-two week low of $25.42 and a fifty-two week high of $48.86. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.15 and a current ratio of 1.88. The stock has a market cap of $835.42 million, a price-to-earnings ratio of 26.00 and a beta of 1.12. The firm’s fifty day moving average is $28.42 and its 200 day moving average is $32.57.

Matthews International (NASDAQ:MATW) last released its quarterly earnings data on Thursday, February 1st. The company reported $0.37 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.37. The firm had revenue of $449.99 million for the quarter, compared to analysts’ expectations of $437.77 million. Matthews International had a net margin of 1.77% and a return on equity of 16.44%. On average, sell-side analysts forecast that Matthews International Co. will post 2.6 earnings per share for the current fiscal year.

Matthews International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Monday, May 6th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $0.96 annualized dividend and a dividend yield of 3.53%. Matthews International’s dividend payout ratio (DPR) is 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.