Polar Asset Management Partners Inc. Sells 292,875 Shares of Matthews International Corporation $MATW

Polar Asset Management Partners Inc. reduced its holdings in Matthews International Corporation (NASDAQ:MATW) by 40.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 428,533 shares of the company’s stock after selling 292,875 shares during the quarter. Polar Asset Management Partners Inc.’s holdings in Matthews International were worth $10,405,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. US Bancorp DE increased its holdings in Matthews International by 45.9% during the 3rd quarter. US Bancorp DE now owns 2,063 shares of the company’s stock valued at $50,000 after purchasing an additional 649 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in Matthews International in the third quarter worth $59,000. Tower Research Capital LLC TRC boosted its stake in Matthews International by 187.1% in the second quarter. Tower Research Capital LLC TRC now owns 2,885 shares of the company’s stock worth $69,000 after purchasing an additional 1,880 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Matthews International by 51.6% during the second quarter. BNP Paribas Financial Markets now owns 3,080 shares of the company’s stock worth $74,000 after purchasing an additional 1,048 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its stake in shares of Matthews International by 25.0% in the second quarter. Smartleaf Asset Management LLC now owns 3,445 shares of the company’s stock valued at $84,000 after buying an additional 689 shares in the last quarter. 83.08% of the stock is currently owned by institutional investors.

Matthews International Stock Down 1.8%

Shares of NASDAQ MATW opened at $24.37 on Thursday. Matthews International Corporation has a 1 year low of $18.50 and a 1 year high of $29.11. The firm’s 50-day moving average is $26.44 and its 200-day moving average is $25.33. The company has a current ratio of 1.51, a quick ratio of 0.91 and a debt-to-equity ratio of 0.98. The firm has a market capitalization of $758.64 million, a PE ratio of 34.32 and a beta of 1.16.

Matthews International (NASDAQ:MATW) last posted its quarterly earnings results on Wednesday, February 4th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.24). Matthews International had a return on equity of 5.95% and a net margin of 1.64%.The business had revenue of $284.76 million for the quarter, compared to the consensus estimate of $282.50 million. Equities analysts expect that Matthews International Corporation will post 1.73 EPS for the current year.

Matthews International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 23rd. Shareholders of record on Monday, February 9th were issued a dividend of $0.255 per share. This represents a $1.02 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend was Monday, February 9th. Matthews International’s payout ratio is currently 143.66%.

Analyst Ratings Changes

A number of research analysts recently issued reports on MATW shares. Zacks Research cut Matthews International from a “hold” rating to a “strong sell” rating in a report on Monday, January 19th. Weiss Ratings upgraded shares of Matthews International from a “sell (d)” rating to a “hold (c)” rating in a research report on Friday, February 6th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Reduce”.

Matthews International Company Profile

Matthews International Corporation (NASDAQ:MATW) is a diversified industrial company headquartered in Pittsburgh, Pennsylvania. The company operates through two primary business segments—Brand Solutions and Memorialization—offering a broad range of products and services designed to meet the needs of industrial manufacturers, brand marketers and the funeral industry worldwide.

In its Brand Solutions segment, Matthews International provides engraving and digital printing systems, automated finishing equipment, thermal management products and electronics assembly solutions.