Barington Companies Management LLC Has $26.12 Million Stake in Matthews International Corporation $MATW

Barington Companies Management LLC boosted its holdings in shares of Matthews International Corporation (NASDAQ:MATW) by 9.6% in the 4th quarter, Holdings Channel reports. The firm owned 1,000,000 shares of the company’s stock after buying an additional 87,196 shares during the period. Matthews International accounts for about 17.1% of Barington Companies Management LLC’s holdings, making the stock its 2nd largest position. Barington Companies Management LLC’s holdings in Matthews International were worth $26,120,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MATW. Ameriprise Financial Inc. lifted its stake in shares of Matthews International by 9.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,664,426 shares of the company’s stock valued at $39,796,000 after acquiring an additional 137,015 shares during the last quarter. Gamco Investors INC. ET AL boosted its holdings in shares of Matthews International by 9.7% during the 4th quarter. Gamco Investors INC. ET AL now owns 1,554,105 shares of the company’s stock valued at $40,593,000 after acquiring an additional 136,794 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Matthews International by 2.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,530,341 shares of the company’s stock valued at $39,973,000 after acquiring an additional 29,865 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Matthews International by 2.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,075,479 shares of the company’s stock valued at $27,887,000 after acquiring an additional 22,046 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Matthews International by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 740,854 shares of the company’s stock valued at $19,354,000 after acquiring an additional 2,561 shares in the last quarter. Institutional investors own 83.08% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on MATW. Weiss Ratings downgraded Matthews International from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, May 6th. Wall Street Zen cut shares of Matthews International from a “buy” rating to a “hold” rating in a research report on Sunday, May 10th. Finally, Zacks Research upgraded shares of Matthews International from a “strong sell” rating to a “hold” rating in a research report on Monday, April 6th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Reduce”.

Matthews International Stock Performance

NASDAQ:MATW opened at $26.82 on Friday. The company has a market capitalization of $836.78 million, a PE ratio of 86.52 and a beta of 1.08. The company has a 50 day simple moving average of $26.93 and a two-hundred day simple moving average of $26.40. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.97 and a current ratio of 1.64. Matthews International Corporation has a fifty-two week low of $20.74 and a fifty-two week high of $30.93.

Matthews International (NASDAQ:MATW) last released its earnings results on Thursday, April 30th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.17 by $0.20. Matthews International had a return on equity of 5.88% and a net margin of 0.80%.The business had revenue of $258.62 million during the quarter, compared to analysts’ expectations of $253.65 million. Research analysts anticipate that Matthews International Corporation will post 1.09 earnings per share for the current year.

Matthews International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, May 25th. Stockholders of record on Monday, May 11th were paid a $0.255 dividend. The ex-dividend date was Monday, May 11th. This represents a $1.02 annualized dividend and a dividend yield of 3.8%. Matthews International’s dividend payout ratio (DPR) is currently 329.03%.

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.