LSV Asset Management Grows Stake in Matthews International Co. (NASDAQ:MATW)

LSV Asset Management grew its holdings in Matthews International Co. (NASDAQ:MATW) by 6.1% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 375,618 shares of the company’s stock after buying an additional 21,518 shares during the quarter. LSV Asset Management owned approximately 1.19% of Matthews International worth $14,855,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. BlackRock Inc. lifted its holdings in Matthews International by 6.2% in the 4th quarter. BlackRock Inc. now owns 5,291,699 shares of the company’s stock worth $155,577,000 after buying an additional 308,369 shares during the period. Aristotle Capital Boston LLC lifted its holdings in Matthews International by 0.7% in the 4th quarter. Aristotle Capital Boston LLC now owns 1,188,324 shares of the company’s stock worth $34,937,000 after buying an additional 8,636 shares during the period. Gamco Investors INC. ET AL lifted its holdings in Matthews International by 25.0% in the 4th quarter. Gamco Investors INC. ET AL now owns 1,096,157 shares of the company’s stock worth $32,227,000 after buying an additional 219,400 shares during the period. Phoenix Holdings Ltd. lifted its holdings in Matthews International by 24.7% in the 4th quarter. Phoenix Holdings Ltd. now owns 746,426 shares of the company’s stock worth $21,909,000 after buying an additional 147,816 shares during the period. Finally, SummerHaven Investment Management LLC purchased a new stake in Matthews International in the 4th quarter worth approximately $664,000. Institutional investors and hedge funds own 80.00% of the company’s stock.

Separately, Zacks Investment Research lowered Matthews International from a “buy” rating to a “hold” rating in a research report on Wednesday.

In related news, EVP Brian J. Dunn sold 6,000 shares of the firm’s stock in a transaction that occurred on Monday, March 15th. The stock was sold at an average price of $41.36, for a total transaction of $248,160.00. Following the completion of the transaction, the executive vice president now owns 44,527 shares of the company’s stock, valued at approximately $1,841,636.72. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director David A. Schawk sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, March 8th. The shares were sold at an average price of $41.02, for a total value of $205,100.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 21,000 shares of company stock valued at $870,660. 3.40% of the stock is owned by corporate insiders.

Shares of NASDAQ:MATW opened at $39.85 on Thursday. Matthews International Co. has a 52-week low of $17.01 and a 52-week high of $43.75. The firm has a market capitalization of $1.26 billion, a P/E ratio of -14.23 and a beta of 1.18. The stock has a 50 day moving average price of $41.36 and a 200-day moving average price of $33.49. The company has a debt-to-equity ratio of 1.32, a quick ratio of 1.26 and a current ratio of 1.82.

Matthews International (NASDAQ:MATW) last announced its earnings results on Thursday, April 29th. The company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.15. Matthews International had a positive return on equity of 14.90% and a negative net margin of 5.82%. On average, equities analysts forecast that Matthews International Co. will post 2.95 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 24th. Investors of record on Monday, May 10th will be given a dividend of $0.215 per share. This represents a $0.86 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date is Friday, May 7th. Matthews International’s dividend payout ratio (DPR) is presently 28.57%.

About Matthews International

Matthews International Corporation provides brand solutions, memorialization products, and industrial technologies worldwide. The company's SGK Brand Solutions segment offers brand management and pre-media services, printing plates and cylinders, engineered products, imaging services, digital asset management, merchandising display systems, and marketing and design services primarily for the consumer goods and retail industries.

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Institutional Ownership by Quarter for Matthews International (NASDAQ:MATW)

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