Connor Clark & Lunn Investment Management Ltd. Increases Holdings in Matthews International Co. (NASDAQ:MATW)

Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Matthews International Co. (NASDAQ:MATW) by 49.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 117,704 shares of the company’s stock after purchasing an additional 39,188 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Matthews International were worth $3,258,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp raised its holdings in shares of Matthews International by 6.8% during 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 in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Matthews International by 10.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 781,592 shares of the company’s stock worth $21,126,000 after purchasing an additional 73,240 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Matthews International by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 729,539 shares of the company’s stock worth $16,929,000 after purchasing an additional 6,536 shares during the period. Barington Capital Group L.P. lifted its position in shares of Matthews International by 18.2% in the 3rd 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, Bank of New York Mellon Corp boosted its stake in shares of Matthews International by 10.0% during the 4th quarter. Bank of New York Mellon Corp now owns 375,855 shares of the company’s stock valued at $10,404,000 after purchasing an additional 34,064 shares in the last quarter. Hedge funds and other institutional investors own 83.08% of the company’s stock.

Matthews International Price Performance

MATW stock opened at $22.88 on Tuesday. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.58 and a quick ratio of 0.96. Matthews International Co. has a 1 year low of $21.09 and a 1 year high of $32.24. The firm has a 50-day moving average of $26.73 and a 200 day moving average of $25.81. The company has a market cap of $708.57 million, a P/E ratio of -11.61 and a beta of 1.09.

Matthews International (NASDAQ:MATW) last posted its earnings results on Thursday, February 6th. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates 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%. On average, sell-side analysts forecast that Matthews International Co. will post 1.73 EPS for the current year.

Matthews International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 24th. Shareholders of record on Monday, February 10th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.37%. The ex-dividend date was Monday, February 10th. Matthews International’s dividend payout ratio is currently -50.76%.

About Matthews International

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.