Inspire Advisors LLC Invests $254,000 in Matthews International Co. (NASDAQ:MATW)

Inspire Advisors LLC bought a new position in Matthews International Co. (NASDAQ:MATW) during the 4th quarter, Holdings Channel.com reports. The fund bought 9,185 shares of the company’s stock, valued at approximately $254,000.

Several other hedge funds have also recently modified their holdings of MATW. GSA Capital Partners LLP purchased a new position in shares of Matthews International in the third quarter worth $222,000. Victory Capital Management Inc. purchased a new position in shares of Matthews International in the third quarter worth $235,000. KBC Group NV lifted its holdings in shares of Matthews International by 63.7% in the third quarter. KBC Group NV now owns 1,937 shares of the company’s stock worth $45,000 after buying an additional 754 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in Matthews International by 21.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 78,516 shares of the company’s stock worth $1,822,000 after purchasing an additional 13,620 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its position in Matthews International by 7.7% in the third quarter. BNP Paribas Financial Markets now owns 6,602 shares of the company’s stock worth $153,000 after purchasing an additional 471 shares during the last quarter. Hedge funds and other institutional investors own 83.08% of the company’s stock.

Matthews International Trading Down 0.9 %

Shares of MATW opened at $22.79 on Thursday. The company’s fifty day moving average is $27.11 and its 200 day moving average is $25.89. Matthews International Co. has a fifty-two week low of $21.09 and a fifty-two week high of $32.24. The stock has a market capitalization of $705.78 million, a PE ratio of -11.57 and a beta of 1.09. 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 announced its quarterly earnings results on Thursday, February 6th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.12). Matthews International had a positive return on equity of 12.88% and a negative net margin of 3.48%. Sell-side analysts expect that Matthews International Co. will post 1.73 earnings per share for the current fiscal year.

Matthews International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 24th. Investors of record on Monday, February 10th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.39%. The ex-dividend date of this dividend was Monday, February 10th. Matthews International’s dividend payout ratio is presently -50.76%.

About Matthews International

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.