Wedge Capital Management L L P NC Buys 13,269 Shares of Matthews International Co. (NASDAQ:MATW)

Wedge Capital Management L L P NC grew its stake in Matthews International Co. (NASDAQ:MATW) by 30.4% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,968 shares of the company’s stock after purchasing an additional 13,269 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.18% of Matthews International worth $1,267,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in shares of Matthews International by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 3,461,134 shares of the company’s stock valued at $95,804,000 after acquiring an additional 18,425 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of Matthews International by 10.0% during the fourth quarter. Ameriprise Financial Inc. now owns 1,854,343 shares of the company’s stock valued at $51,328,000 after acquiring an additional 168,970 shares during the last quarter. Phoenix Financial Ltd. increased its position in shares of Matthews International by 1.9% during the fourth quarter. Phoenix Financial Ltd. now owns 1,523,362 shares of the company’s stock valued at $42,167,000 after acquiring an additional 28,189 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Matthews International by 10.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 781,592 shares of the company’s stock valued at $21,126,000 after acquiring an additional 73,240 shares during the last quarter. Finally, Barington Capital Group L.P. increased its position in shares of Matthews International by 23.9% during the fourth quarter. Barington Capital Group L.P. now owns 563,962 shares of the company’s stock valued at $15,610,000 after acquiring an additional 108,962 shares during the last quarter. Institutional investors own 83.08% of the company’s stock.

Matthews International Stock Performance

Shares of MATW opened at $23.04 on Wednesday. The company has a current ratio of 1.58, a quick ratio of 0.96 and a debt-to-equity ratio of 1.94. The stock has a 50 day moving average of $20.64 and a 200 day moving average of $24.76. Matthews International Co. has a 12 month low of $18.50 and a 12 month high of $32.24. The company has a market capitalization of $714.45 million, a price-to-earnings ratio of -11.70 and a beta of 1.25.

Matthews International (NASDAQ:MATW) last released its earnings results on Wednesday, April 30th. The company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.02). The firm had revenue of $427.63 million during the quarter, compared to analysts’ expectations of $435.62 million. Matthews International had a positive return on equity of 12.88% and a negative net margin of 3.48%. As a group, sell-side analysts forecast that Matthews International Co. will post 1.73 earnings per share for the current year.

Matthews International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 26th. Investors of record on Monday, May 12th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.34%. The ex-dividend date of this dividend was Monday, May 12th. Matthews International’s dividend payout ratio is -39.22%.

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.