Fmr LLC Sells 991 Shares of Matthews International Co. (NASDAQ:MATW)

Fmr LLC reduced its stake in Matthews International Co. (NASDAQ:MATW) by 46.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,123 shares of the company’s stock after selling 991 shares during the quarter. Fmr LLC’s holdings in Matthews International were worth $26,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of MATW. KBC Group NV boosted its position in shares of Matthews International by 63.7% in the third quarter. KBC Group NV now owns 1,937 shares of the company’s stock worth $45,000 after purchasing an additional 754 shares during the period. Point72 DIFC Ltd bought a new position in Matthews International in the 2nd quarter worth $49,000. nVerses Capital LLC purchased a new stake in Matthews International in the 2nd quarter worth $110,000. GSA Capital Partners LLP bought a new stake in Matthews International during the third quarter valued at about $222,000. Finally, Victory Capital Management Inc. purchased a new position in shares of Matthews International in the third quarter valued at about $235,000. 83.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, B. Riley decreased their target price 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 Stock Performance

Shares of NASDAQ MATW opened at $28.41 on Friday. The company has a market cap of $869.40 million, a P/E ratio of -14.72 and a beta of 1.13. Matthews International Co. has a 52-week low of $21.09 and a 52-week high of $39.12. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.91 and a current ratio of 1.45. The firm’s fifty day moving average is $26.48 and its two-hundred day moving average is $25.40.

Matthews International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a $0.25 dividend. This is an increase from Matthews International’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.52%. The ex-dividend date was Monday, December 2nd. Matthews International’s payout ratio is currently -51.81%.

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.