Matthews International Co. (NASDAQ:MATW) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its position in Matthews International Co. (NASDAQ:MATW) by 9.7% in the third quarter, Holdings Channel reports. The institutional investor owned 68,113 shares of the company’s stock after selling 7,338 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Matthews International were worth $1,580,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of MATW. SG Americas Securities LLC purchased a new position in Matthews International during the second quarter worth approximately $112,000. SummerHaven Investment Management LLC increased its holdings in Matthews International by 3.5% in the 2nd quarter. SummerHaven Investment Management LLC now owns 16,118 shares of the company’s stock worth $404,000 after acquiring an additional 538 shares in the last quarter. Bank of New York Mellon Corp raised its position in Matthews International by 4.3% during the second quarter. Bank of New York Mellon Corp now owns 360,165 shares of the company’s stock worth $9,022,000 after acquiring an additional 14,737 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Matthews International by 11.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 652,665 shares of the company’s stock valued at $16,349,000 after purchasing an additional 65,188 shares in the last quarter. Finally, nVerses Capital LLC acquired a new stake in shares of Matthews International in the second quarter valued at about $110,000. Institutional investors and hedge funds own 83.08% of the company’s stock.

Analyst Ratings Changes

Separately, B. Riley reduced their price target on shares of Matthews International from $54.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday, September 26th.

Matthews International Stock Performance

NASDAQ MATW opened at $29.66 on Tuesday. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.45 and a quick ratio of 0.91. The stock’s 50 day simple moving average is $25.61 and its 200-day simple moving average is $25.39. The company has a market cap of $907.66 million, a PE ratio of -15.37 and a beta of 1.13. Matthews International Co. has a 1-year low of $21.09 and a 1-year high of $39.12.

Matthews International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.00 dividend on an annualized basis and a yield of 3.37%. This is a positive change from Matthews International’s previous quarterly dividend of $0.24. Matthews International’s dividend payout ratio (DPR) is presently -51.81%.

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.