Matthews International Co. (NASDAQ:MATW) Shares Bought by Inspire Investing LLC

Inspire Investing LLC increased its stake in Matthews International Co. (NASDAQ:MATW) by 25.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,608 shares of the company’s stock after acquiring an additional 4,018 shares during the period. Inspire Investing LLC owned approximately 0.06% of Matthews International worth $455,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Point72 DIFC Ltd purchased a new position in Matthews International during the second quarter worth approximately $49,000. nVerses Capital LLC purchased a new position in shares of Matthews International in the 2nd quarter worth $110,000. SG Americas Securities LLC acquired a new position in Matthews International in the second quarter valued at $112,000. XTX Topco Ltd purchased a new stake in Matthews International during the second quarter valued at about $246,000. Finally, The Manufacturers Life Insurance Company increased its stake in Matthews International by 6.9% during the second quarter. The Manufacturers Life Insurance Company now owns 15,707 shares of the company’s stock worth $393,000 after acquiring an additional 1,013 shares during the last quarter. 83.08% of the stock is currently owned by hedge funds and other institutional investors.

Matthews International Stock Performance

Shares of MATW stock opened at $21.75 on Wednesday. The company has a current ratio of 1.66, a quick ratio of 1.02 and a debt-to-equity ratio of 1.64. The company has a market cap of $667.94 million, a PE ratio of 20.52 and a beta of 1.07. The company’s fifty day simple moving average is $23.94 and its 200-day simple moving average is $26.01. Matthews International Co. has a 52 week low of $21.09 and a 52 week high of $40.28.

Matthews International (NASDAQ:MATW) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.02). Matthews International had a return on equity of 15.79% and a net margin of 1.43%. The company had revenue of $427.83 million for the quarter, compared to analyst estimates of $450.03 million. During the same quarter in the prior year, the firm earned $0.74 EPS. As a group, equities research analysts anticipate that Matthews International Co. will post 2.03 EPS for the current year.

Matthews International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Monday, August 5th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 4.41%. The ex-dividend date was Monday, August 5th. Matthews International’s dividend payout ratio (DPR) is 90.57%.

Analyst Upgrades and Downgrades

Separately, B. Riley reduced their price objective on Matthews International from $54.00 to $40.00 and set a “buy” rating on the stock in a research note on Thursday, September 26th.

Matthews International Company 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.