Forty three Eighteen Advisors LLC Purchases New Holdings in Matthews International Corporation $MATW

Forty three Eighteen Advisors LLC purchased a new position in shares of Matthews International Corporation (NASDAQ:MATW) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 60,604 shares of the company’s stock, valued at approximately $1,583,000. Matthews International comprises about 1.2% of Forty three Eighteen Advisors LLC’s investment portfolio, making the stock its 27th biggest position. Forty three Eighteen Advisors LLC owned about 0.19% of Matthews International at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its stake in shares of Matthews International by 2.1% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,075,479 shares of the company’s stock valued at $27,887,000 after buying an additional 22,046 shares in the last quarter. UBS Group AG lifted its stake in Matthews International by 45.2% in the fourth quarter. UBS Group AG now owns 151,700 shares of the company’s stock valued at $3,962,000 after acquiring an additional 47,246 shares during the last quarter. Barington Companies Management LLC grew its position in shares of Matthews International by 9.6% in the 4th quarter. Barington Companies Management LLC now owns 1,000,000 shares of the company’s stock valued at $26,120,000 after acquiring an additional 87,196 shares during the period. Gamco Investors INC. ET AL raised its holdings in shares of Matthews International by 9.7% in the 4th quarter. Gamco Investors INC. ET AL now owns 1,554,105 shares of the company’s stock valued at $40,593,000 after purchasing an additional 136,794 shares during the period. Finally, Equitable Trust Co. lifted its stake in Matthews International by 223.6% in the 4th quarter. Equitable Trust Co. now owns 29,045 shares of the company’s stock valued at $759,000 after purchasing an additional 20,070 shares during the last quarter. Institutional investors and hedge funds own 83.08% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Matthews International Price Performance

Shares of NASDAQ MATW opened at $26.36 on Friday. The firm has a market cap of $822.43 million, a P/E ratio of 85.03 and a beta of 1.08. The company has a current ratio of 1.64, a quick ratio of 0.97 and a debt-to-equity ratio of 1.12. Matthews International Corporation has a 1-year low of $20.74 and a 1-year high of $30.93. The business’s 50 day moving average is $26.98 and its 200-day moving average is $26.46.

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

Matthews International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 25th. Stockholders of record on Monday, May 11th were given a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend was Monday, May 11th. Matthews International’s payout ratio is presently 329.03%.

Matthews International Profile

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.