Confluence Wealth Services Inc. Buys New Stake in Matthews International Co. (NASDAQ:MATW)

Confluence Wealth Services Inc. bought a new stake in shares of Matthews International Co. (NASDAQ:MATWGet Rating) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 5,796 shares of the company’s stock, valued at approximately $212,000.

Several other large investors have also bought and sold shares of the stock. Citigroup Inc. lifted its holdings in shares of Matthews International by 33.9% during the 4th quarter. Citigroup Inc. now owns 28,264 shares of the company’s stock valued at $1,036,000 after acquiring an additional 7,149 shares in the last quarter. Teacher Retirement System of Texas purchased a new position in Matthews International in the 4th quarter valued at about $225,000. Krane Funds Advisors LLC boosted its position in Matthews International by 2.0% in the 4th quarter. Krane Funds Advisors LLC now owns 19,598 shares of the company’s stock valued at $719,000 after buying an additional 387 shares during the last quarter. Campbell & CO Investment Adviser LLC purchased a new position in Matthews International in the 4th quarter valued at about $218,000. Finally, Palisade Capital Management LLC NJ boosted its position in Matthews International by 0.6% in the 4th quarter. Palisade Capital Management LLC NJ now owns 509,299 shares of the company’s stock valued at $18,676,000 after buying an additional 2,851 shares during the last quarter. Institutional investors and hedge funds own 80.83% of the company’s stock.

A number of research firms have weighed in on MATW. Zacks Investment Research cut shares of Matthews International from a “hold” rating to a “sell” rating in a research report on Saturday, April 30th. StockNews.com began coverage on shares of Matthews International in a research report on Thursday, March 31st. They issued a “buy” rating for the company.

Shares of Matthews International stock opened at $30.10 on Friday. The firm has a market cap of $942.43 million, a PE ratio of -43.00 and a beta of 1.08. The firm’s 50-day simple moving average is $31.63 and its 200-day simple moving average is $34.31. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.21 and a current ratio of 1.81. Matthews International Co. has a 1 year low of $29.00 and a 1 year high of $41.60.

Matthews International (NASDAQ:MATWGet Rating) last issued its earnings results on Thursday, April 28th. The company reported $0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.01). Matthews International had a negative net margin of 1.26% and a positive return on equity of 16.01%. During the same quarter last year, the business posted $0.89 earnings per share. On average, equities analysts predict that Matthews International Co. will post 2.99 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 23rd. Investors of record on Monday, May 9th will be paid a dividend of $0.22 per share. This is a positive change from Matthews International’s previous quarterly dividend of $0.13. The ex-dividend date is Friday, May 6th. This represents a $0.88 annualized dividend and a yield of 2.92%. Matthews International’s dividend payout ratio is -125.71%.

About Matthews International (Get Rating)

Matthews International Corporation provides brand solutions, memorialization products, and industrial technologies worldwide. It operates through three segments: SGK Brand Solutions, Memorialization, and Industrial Technologies. The SGK Brand solutions segment provides brand management, pre-media services, printing plates and cylinders, engineered products, imaging services, digital asset management, merchandising display systems, and marketing and design services for the consumer goods and retail industries.

See Also

Institutional Ownership by Quarter for Matthews International (NASDAQ:MATW)

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