PNC Financial Services Group Inc. Grows Holdings in Matthews International Co. (NASDAQ:MATW)

PNC Financial Services Group Inc. raised its position in Matthews International Co. (NASDAQ:MATW) by 267.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,269 shares of the company’s stock after purchasing an additional 14,030 shares during the period. PNC Financial Services Group Inc. owned about 0.06% of Matthews International worth $706,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MATW. Deutsche Bank AG lifted its holdings in Matthews International by 12.5% in the 3rd quarter. Deutsche Bank AG now owns 17,270 shares of the company’s stock valued at $672,000 after purchasing an additional 1,914 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Matthews International by 1.1% during the 3rd quarter. Rhumbline Advisers now owns 97,763 shares of the company’s stock worth $3,804,000 after acquiring an additional 1,038 shares during the period. Dark Forest Capital Management LP purchased a new position in shares of Matthews International during the 3rd quarter worth about $420,000. Covestor Ltd lifted its holdings in shares of Matthews International by 15,914.3% during the 3rd quarter. Covestor Ltd now owns 1,121 shares of the company’s stock worth $43,000 after acquiring an additional 1,114 shares during the period. Finally, Trexquant Investment LP purchased a new position in shares of Matthews International during the 3rd quarter worth about $456,000. 83.08% of the stock is currently owned by hedge funds and other institutional investors.

Matthews International Trading Down 0.6 %

Shares of MATW stock opened at $25.32 on Wednesday. The firm has a market cap of $777.58 million, a P/E ratio of 23.89 and a beta of 1.11. Matthews International Co. has a 1-year low of $23.42 and a 1-year high of $48.86. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.82 and a quick ratio of 1.12. The firm’s 50-day simple moving average is $27.42 and its 200-day simple moving average is $30.11.

Matthews International (NASDAQ:MATW) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.24. The business had revenue of $471.22 million for the quarter, compared to analyst estimates of $469.38 million. Matthews International had a net margin of 1.77% and a return on equity of 16.75%. As a group, equities analysts forecast that Matthews International Co. will post 2.53 EPS for the current year.

Matthews International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Monday, May 6th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date of this dividend was Friday, May 3rd. Matthews International’s dividend payout ratio (DPR) is presently 90.57%.

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.