Matthews International Co. (NASDAQ:MATW) Stock Holdings Lifted by Barington Capital Group L.P.

Barington Capital Group L.P. boosted its position in shares of Matthews International Co. (NASDAQ:MATW) by 18.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 455,000 shares of the company’s stock after buying an additional 70,000 shares during the period. Matthews International accounts for about 11.2% of Barington Capital Group L.P.’s portfolio, making the stock its 5th largest holding. Barington Capital Group L.P. owned 1.49% of Matthews International worth $10,556,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in Matthews International by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 3,619,317 shares of the company’s stock worth $112,488,000 after purchasing an additional 76,752 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Matthews International by 8.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 708,352 shares of the company’s stock worth $16,434,000 after buying an additional 55,687 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Matthews International by 4.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 360,165 shares of the company’s stock valued at $9,022,000 after buying an additional 14,737 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Matthews International by 21.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 78,516 shares of the company’s stock worth $1,822,000 after acquiring an additional 13,620 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Matthews International by 1.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 68,771 shares of the company’s stock worth $2,138,000 after acquiring an additional 1,063 shares during the period. 83.08% of the stock is currently owned by hedge funds and other institutional investors.

Matthews International Trading Down 0.6 %

Shares of MATW stock opened at $30.16 on Monday. Matthews International Co. has a 1-year low of $21.09 and a 1-year high of $39.12. The firm has a market cap of $922.90 million, a PE ratio of -15.63 and a beta of 1.06. The company has a 50-day moving average of $23.93 and a two-hundred day moving average of $25.26. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.45 and a quick ratio of 0.91.

Matthews International Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 3.32%. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from Matthews International’s previous quarterly dividend of $0.24. Matthews International’s dividend payout ratio (DPR) is -49.74%.

Wall Street Analysts Forecast Growth

Separately, B. Riley dropped their price objective on shares of Matthews International from $54.00 to $40.00 and set a “buy” rating for the company in a report on Thursday, September 26th.

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.