Zurcher Kantonalbank Zurich Cantonalbank Grows Stock Holdings in Matthews International Co. (NASDAQ:MATW)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Matthews International Co. (NASDAQ:MATW) by 17.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,841 shares of the company’s stock after acquiring an additional 879 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Matthews International were worth $214,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in MATW. Allspring Global Investments Holdings LLC raised its stake in shares of Matthews International by 53.6% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 470,016 shares of the company’s stock worth $17,226,000 after purchasing an additional 163,984 shares during the last quarter. Campbell Capital Management Inc. purchased a new position in Matthews International during the 4th quarter worth $4,236,000. Jupiter Asset Management Ltd. acquired a new stake in shares of Matthews International in the 3rd quarter worth $3,882,000. Great Lakes Advisors LLC purchased a new stake in shares of Matthews International in the third quarter valued at about $2,530,000. Finally, Illinois Municipal Retirement Fund acquired a new position in shares of Matthews International during the third quarter worth about $703,000. 83.08% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on MATW shares. B. Riley lowered their price objective on Matthews International from $61.00 to $59.00 and set a “buy” rating on the stock in a report on Monday, February 5th. StockNews.com lowered Matthews International from a “buy” rating to a “hold” rating in a report on Friday, February 9th.

Matthews International Stock Down 2.4 %

MATW stock opened at $27.89 on Tuesday. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.82 and a quick ratio of 1.12. The company’s 50 day simple moving average is $28.33 and its 200-day simple moving average is $32.17. Matthews International Co. has a 12 month low of $25.42 and a 12 month high of $48.86. The firm has a market capitalization of $855.67 million, a PE ratio of 26.31 and a beta of 1.14.

Matthews International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Monday, May 6th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date is Friday, May 3rd. Matthews International’s dividend payout ratio is presently 90.57%.

Matthews International Profile

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.