Matthews International Co. (NASDAQ:MATW) Stock Holdings Reduced by Gabelli Funds LLC

Gabelli Funds LLC cut its position in shares of Matthews International Co. (NASDAQ:MATW) by 1.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 142,926 shares of the company’s stock after selling 1,820 shares during the period. Gabelli Funds LLC owned 0.47% of Matthews International worth $3,580,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in MATW. Inspire Investing LLC raised its position in Matthews International by 20.0% during the second quarter. Inspire Investing LLC now owns 15,590 shares of the company’s stock valued at $391,000 after acquiring an additional 2,598 shares in the last quarter. XTX Topco Ltd bought a new position in shares of Matthews International during the 2nd quarter valued at $246,000. Renaissance Technologies LLC bought a new position in shares of Matthews International during the 2nd quarter valued at $725,000. American Century Companies Inc. lifted its stake in shares of Matthews International by 15.2% in the 2nd quarter. American Century Companies Inc. now owns 42,213 shares of the company’s stock valued at $1,057,000 after purchasing an additional 5,573 shares during the last quarter. Finally, nVerses Capital LLC bought a new stake in Matthews International in the second quarter worth $110,000. 83.08% of the stock is currently owned by institutional investors and hedge funds.

Matthews International Price Performance

NASDAQ MATW opened at $23.70 on Wednesday. Matthews International Co. has a fifty-two week low of $22.47 and a fifty-two week high of $40.80. The stock’s 50-day moving average is $25.48 and its two-hundred day moving average is $26.72. The firm has a market cap of $727.83 million, a P/E ratio of 22.36 and a beta of 1.08. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.66 and a quick ratio of 1.02.

Matthews International (NASDAQ:MATW) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.02). The company had revenue of $427.83 million during the quarter, compared to the consensus estimate of $450.03 million. Matthews International had a net margin of 1.43% and a return on equity of 15.79%. During the same period in the previous year, the business posted $0.74 earnings per share. On average, analysts anticipate that Matthews International Co. will post 2.53 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, August 19th. Investors of record on Monday, August 5th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 4.05%. The ex-dividend date of this dividend was Monday, August 5th. Matthews International’s dividend payout ratio is currently 90.57%.

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.