Formula Growth Ltd. Makes New Investment in Matthews International Co. (NASDAQ:MATW)

Formula Growth Ltd. purchased a new stake in Matthews International Co. (NASDAQ:MATW) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 48,000 shares of the company’s stock, valued at approximately $1,329,000. Formula Growth Ltd. owned about 0.15% of Matthews International at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of MATW. Barclays PLC increased its stake in Matthews International by 375.4% in the third quarter. Barclays PLC now owns 52,823 shares of the company’s stock valued at $1,225,000 after purchasing an additional 41,711 shares in the last quarter. Jane Street Group LLC increased its position in shares of Matthews International by 120.5% in the 3rd quarter. Jane Street Group LLC now owns 79,861 shares of the company’s stock valued at $1,853,000 after buying an additional 43,650 shares in the last quarter. Geode Capital Management LLC raised its stake in Matthews International by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 729,539 shares of the company’s stock worth $16,929,000 after buying an additional 6,536 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Matthews International by 10.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 781,592 shares of the company’s stock worth $21,126,000 after acquiring an additional 73,240 shares in the last quarter. Finally, State Street Corp grew its stake in Matthews International by 6.8% in the third quarter. State Street Corp now owns 1,208,505 shares of the company’s stock valued at $28,037,000 after acquiring an additional 76,911 shares during the period. 83.08% of the stock is currently owned by institutional investors and hedge funds.

Matthews International Stock Down 2.0 %

Shares of Matthews International stock opened at $19.51 on Friday. Matthews International Co. has a 1 year low of $18.50 and a 1 year high of $32.24. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.58 and a quick ratio of 0.96. The company has a market capitalization of $604.21 million, a P/E ratio of -9.90 and a beta of 1.07. The business has a 50-day moving average of $22.87 and a two-hundred day moving average of $25.39.

Matthews International (NASDAQ:MATW) last announced its earnings results on Thursday, February 6th. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.12). Matthews International had a positive return on equity of 12.88% and a negative net margin of 3.48%. As a group, equities analysts predict that Matthews International Co. will post 1.73 EPS for the current year.

Matthews International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 24th. Investors of record on Monday, February 10th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 5.13%. The ex-dividend date of this dividend was Monday, February 10th. Matthews International’s payout ratio is presently -50.76%.

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.