Matthews International Co. (NASDAQ:MATW) Shares Bought by Gabelli Funds LLC

Gabelli Funds LLC raised its position in Matthews International Co. (NASDAQ:MATW) by 1.8% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 144,746 shares of the company’s stock after purchasing an additional 2,500 shares during the period. Gabelli Funds LLC’s holdings in Matthews International were worth $4,499,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Matthews International by 2.2% in the first quarter. Vanguard Group Inc. now owns 3,619,317 shares of the company’s stock valued at $112,488,000 after purchasing an additional 76,752 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Matthews International by 1.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,428,242 shares of the company’s stock valued at $52,347,000 after acquiring an additional 13,594 shares during the last quarter. Gamco Investors INC. ET AL boosted its stake in shares of Matthews International by 1.1% during the first quarter. Gamco Investors INC. ET AL now owns 1,072,951 shares of the company’s stock valued at $33,347,000 after acquiring an additional 11,650 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Matthews International by 25.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 587,477 shares of the company’s stock valued at $18,259,000 after acquiring an additional 117,461 shares during the last quarter. Finally, ProShare Advisors LLC boosted its stake in shares of Matthews International by 20.2% during the first quarter. ProShare Advisors LLC now owns 266,146 shares of the company’s stock valued at $8,272,000 after acquiring an additional 44,798 shares during the last quarter. Institutional investors and hedge funds own 83.08% of the company’s stock.

Matthews International Price Performance

Shares of MATW traded down $0.69 during trading hours on Friday, reaching $28.10. 141,623 shares of the company traded hands, compared to its average volume of 175,187. The company has a quick ratio of 1.12, a current ratio of 1.82 and a debt-to-equity ratio of 1.64. The stock has a market capitalization of $862.95 million, a PE ratio of 26.51 and a beta of 1.11. Matthews International Co. has a fifty-two week low of $23.30 and a fifty-two week high of $48.86. The stock has a fifty day simple moving average of $26.51 and a 200 day simple moving average of $28.50.

Matthews International (NASDAQ:MATW) last posted its quarterly earnings data on Thursday, May 2nd. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.24. The business had revenue of $471.22 million for the quarter, compared to analyst estimates of $469.38 million. Matthews International had a return on equity of 16.75% and a net margin of 1.77%. As a group, research analysts predict that Matthews International Co. will post 2.53 EPS for the current fiscal year.

Matthews International Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 19th. Investors of record on Monday, August 5th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.42%. The ex-dividend date is Monday, August 5th. Matthews International’s payout ratio is currently 90.57%.

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.