KLP Kapitalforvaltning AS Takes Position in Matthews International Co. (NASDAQ:MATW)

KLP Kapitalforvaltning AS purchased a new position in shares of Matthews International Co. (NASDAQ:MATW) in the 4th quarter, Holdings Channel.com reports. The firm purchased 5,600 shares of the company’s stock, valued at approximately $155,000.

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

Matthews International Stock Down 3.8 %

Shares of NASDAQ:MATW opened at $19.12 on Wednesday. The company has a quick ratio of 0.96, a current ratio of 1.58 and a debt-to-equity ratio of 1.94. Matthews International Co. has a 52-week low of $18.50 and a 52-week high of $32.24. The business has a fifty day moving average of $23.99 and a two-hundred day moving average of $25.56. The stock has a market cap of $592.13 million, a P/E ratio of -9.71 and a beta of 1.07.

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 the consensus estimate of $0.26 by ($0.12). Matthews International had a negative net margin of 3.48% and a positive return on equity of 12.88%. On average, research analysts expect that Matthews International Co. will post 1.73 earnings per share for the current year.

Matthews International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, February 24th. Shareholders of record on Monday, February 10th were paid a dividend of $0.25 per share. The ex-dividend date was Monday, February 10th. This represents a $1.00 annualized dividend and a yield of 5.23%. Matthews International’s dividend payout ratio (DPR) is -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.