Inspire Investing LLC Has $456,000 Stake in Matthews International Co. (NASDAQ:MATW)

Inspire Investing LLC reduced its stake in shares of Matthews International Co. (NASDAQ:MATW) by 16.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 16,465 shares of the company’s stock after selling 3,143 shares during the quarter. Inspire Investing LLC’s holdings in Matthews International were worth $456,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of MATW. State Street Corp lifted its holdings in Matthews International by 6.8% during the 3rd quarter. State Street Corp now owns 1,208,505 shares of the company’s stock worth $28,037,000 after buying an additional 76,911 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Matthews International by 0.9% during the third quarter. Geode Capital Management LLC now owns 729,539 shares of the company’s stock valued at $16,929,000 after acquiring an additional 6,536 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Matthews International by 8.5% in the third quarter. Allspring Global Investments Holdings LLC now owns 708,352 shares of the company’s stock valued at $16,434,000 after acquiring an additional 55,687 shares during the last quarter. Barington Capital Group L.P. increased its position in Matthews International by 18.2% in the third quarter. Barington Capital Group L.P. now owns 455,000 shares of the company’s stock worth $10,556,000 after purchasing an additional 70,000 shares during the period. Finally, Polar Asset Management Partners Inc. bought a new stake in Matthews International during the 3rd quarter worth about $2,793,000. 83.08% of the stock is owned by institutional investors.

Matthews International Stock Performance

Matthews International stock opened at $28.97 on Friday. Matthews International Co. has a 1 year low of $21.09 and a 1 year high of $35.19. The company’s 50-day moving average is $29.10 and its two-hundred day moving average is $26.03. The company has a current ratio of 1.45, a quick ratio of 0.91 and a debt-to-equity ratio of 1.76. The company has a market cap of $897.20 million, a PE ratio of -15.01 and a beta of 1.14.

Matthews International (NASDAQ:MATW) last issued its quarterly earnings results on Thursday, November 21st. The company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.41 by $0.14. Matthews International had a negative net margin of 3.32% and a positive return on equity of 13.69%. During the same quarter in the previous year, the business posted $0.96 earnings per share. Equities analysts anticipate that Matthews International Co. will post 2 earnings per share for the current year.

Matthews International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were given a dividend of $0.25 per share. This is a boost from Matthews International’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.00 annualized dividend and a dividend yield of 3.45%. 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.