Matthews International Corporation $MATW Shares Sold by CenterBook Partners LP

CenterBook Partners LP reduced its holdings in shares of Matthews International Corporation (NASDAQ:MATW) by 37.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 87,580 shares of the company’s stock after selling 52,892 shares during the period. CenterBook Partners LP owned approximately 0.28% of Matthews International worth $2,288,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of MATW. Private Capital Management LLC purchased a new stake in Matthews International during the 3rd quarter valued at approximately $8,215,000. Cannell Capital LLC purchased a new stake in shares of Matthews International during the second quarter worth approximately $5,926,000. Ameriprise Financial Inc. raised its stake in shares of Matthews International by 9.0% during the second quarter. Ameriprise Financial Inc. now owns 1,664,426 shares of the company’s stock worth $39,796,000 after purchasing an additional 137,015 shares during the last quarter. Gamco Investors INC. ET AL lifted its holdings in shares of Matthews International by 9.7% during the fourth quarter. Gamco Investors INC. ET AL now owns 1,554,105 shares of the company’s stock worth $40,593,000 after purchasing an additional 136,794 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its position in Matthews International by 498,188.2% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 84,709 shares of the company’s stock valued at $2,213,000 after buying an additional 84,692 shares during the last quarter. 83.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have commented on MATW. Weiss Ratings downgraded shares of Matthews International from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, May 6th. Zacks Research raised shares of Matthews International from a “strong sell” rating to a “hold” rating in a report on Monday, April 6th. Finally, Wall Street Zen downgraded shares of Matthews International from a “buy” rating to a “hold” rating in a research report on Sunday, May 10th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Matthews International presently has a consensus rating of “Reduce”.

Matthews International Stock Performance

Shares of MATW opened at $25.53 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 1.64 and a debt-to-equity ratio of 1.12. Matthews International Corporation has a 52-week low of $20.74 and a 52-week high of $30.93. The company has a 50-day simple moving average of $26.89 and a 200-day simple moving average of $26.38. The company has a market capitalization of $796.54 million, a PE ratio of 82.35 and a beta of 1.08.

Matthews International (NASDAQ:MATW) last issued its earnings results on Thursday, April 30th. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.20. Matthews International had a net margin of 0.80% and a return on equity of 5.88%. The company had revenue of $258.62 million for the quarter, compared to analyst estimates of $253.65 million. Equities research analysts predict that Matthews International Corporation will post 1.09 earnings per share for the current fiscal year.

Matthews International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 25th. Investors of record on Monday, May 11th were issued a dividend of $0.255 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $1.02 annualized dividend and a yield of 4.0%. Matthews International’s payout ratio is currently 329.03%.

About Matthews International

Matthews International Corporation (NASDAQ:MATW) is a diversified industrial company headquartered in Pittsburgh, Pennsylvania. The company operates through two primary business segments—Brand Solutions and Memorialization—offering a broad range of products and services designed to meet the needs of industrial manufacturers, brand marketers and the funeral industry worldwide.

In its Brand Solutions segment, Matthews International provides engraving and digital printing systems, automated finishing equipment, thermal management products and electronics assembly solutions.