Barclays PLC Has $1.23 Million Stake in Matthews International Co. (NASDAQ:MATW)

Barclays PLC raised its position in shares of Matthews International Co. (NASDAQ:MATW) by 375.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 52,823 shares of the company’s stock after purchasing an additional 41,711 shares during the quarter. Barclays PLC’s holdings in Matthews International were worth $1,225,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. State Street Corp grew 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 buying an additional 76,911 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Matthews International by 8.5% during the 3rd 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 in the last quarter. Barington Capital Group L.P. increased its holdings 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 valued at $10,556,000 after purchasing an additional 70,000 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Matthews International by 4.3% in the second quarter. Bank of New York Mellon Corp now owns 360,165 shares of the company’s stock worth $9,022,000 after purchasing an additional 14,737 shares in the last quarter. Finally, Polar Asset Management Partners Inc. acquired a new stake in shares of Matthews International during the third quarter worth approximately $2,793,000. Hedge funds and other institutional investors own 83.08% of the company’s stock.

Matthews International Stock Down 2.3 %

Matthews International stock opened at $27.77 on Monday. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.45 and a quick ratio of 0.91. Matthews International Co. has a fifty-two week low of $21.09 and a fifty-two week high of $38.45. The firm has a fifty day moving average price of $26.69 and a two-hundred day moving average price of $25.41. The firm has a market cap of $849.82 million, a price-to-earnings ratio of -14.39 and a beta of 1.13.

Matthews International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were given a $0.25 dividend. The ex-dividend date was Monday, December 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.60%. This is an increase from Matthews International’s previous quarterly dividend of $0.24. Matthews International’s dividend payout ratio (DPR) is currently -51.81%.

Wall Street Analysts Forecast Growth

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

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.