State Street Corp Has $28.04 Million Stock Position in Matthews International Co. (NASDAQ:MATW)

State Street Corp boosted its stake in Matthews International Co. (NASDAQ:MATW) by 6.8% in the third quarter, Holdings Channel reports. The firm owned 1,208,505 shares of the company’s stock after purchasing an additional 76,911 shares during the quarter. State Street Corp’s holdings in Matthews International were worth $28,037,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Polar Asset Management Partners Inc. acquired a new position in Matthews International during the third quarter valued at approximately $2,793,000. Barington Capital Group L.P. raised its holdings in shares of Matthews International by 18.2% during the 3rd quarter. Barington Capital Group L.P. now owns 455,000 shares of the company’s stock worth $10,556,000 after buying an additional 70,000 shares in the last quarter. BNP Paribas Financial Markets lifted its position in shares of Matthews International by 7.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 6,602 shares of the company’s stock worth $153,000 after buying an additional 471 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Matthews International by 21.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 78,516 shares of the company’s stock valued at $1,822,000 after buying an additional 13,620 shares in the last quarter. Finally, KBC Group NV boosted its stake in Matthews International by 63.7% in the third quarter. KBC Group NV now owns 1,937 shares of the company’s stock valued at $45,000 after buying an additional 754 shares in the last quarter. Institutional investors own 83.08% of the company’s stock.

Matthews International Trading Down 0.6 %

Shares of Matthews International stock opened at $27.55 on Monday. The company’s 50 day moving average price is $26.13 and its two-hundred day moving average price is $25.38. Matthews International Co. has a fifty-two week low of $21.09 and a fifty-two 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.

Matthews International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a dividend of $0.25 per share. This is an increase 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 3.63%. Matthews International’s dividend payout ratio (DPR) is -51.81%.

Analyst Ratings Changes

Separately, B. Riley lowered their target price on Matthews International from $54.00 to $40.00 and set a “buy” rating for the company in a research note on Thursday, September 26th.

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.