Squarepoint Ops LLC Cuts Stock Holdings in Matthews International Co. (NASDAQ:MATW)

Squarepoint Ops LLC trimmed its stake in shares of Matthews International Co. (NASDAQ:MATW) by 45.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,867 shares of the company’s stock after selling 13,362 shares during the period. Squarepoint Ops LLC owned 0.05% of Matthews International worth $397,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Point72 DIFC Ltd acquired a new stake in shares of Matthews International in the 2nd quarter worth $49,000. nVerses Capital LLC acquired a new position in Matthews International in the second quarter valued at approximately $110,000. SG Americas Securities LLC acquired a new stake in Matthews International during the second quarter worth $112,000. XTX Topco Ltd purchased a new stake in Matthews International in the second quarter valued at $246,000. Finally, Inspire Investing LLC boosted its stake in Matthews International by 20.0% during the second quarter. Inspire Investing LLC now owns 15,590 shares of the company’s stock worth $391,000 after buying an additional 2,598 shares during the period. Hedge funds and other institutional investors own 83.08% of the company’s stock.

Wall Street Analyst Weigh In

Separately, B. Riley dropped their price objective on shares of Matthews International from $54.00 to $40.00 and set a “buy” rating for the company in a report on Thursday, September 26th.

Matthews International Trading Down 0.1 %

MATW opened at $21.64 on Friday. Matthews International Co. has a 12 month low of $21.09 and a 12 month high of $40.80. The stock has a market capitalization of $664.56 million, a price-to-earnings ratio of 20.42 and a beta of 1.07. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.66 and a quick ratio of 1.02. The business has a fifty day moving average price of $24.10 and a 200 day moving average price of $26.18.

Matthews International (NASDAQ:MATW) last issued its earnings results on Thursday, August 1st. The company reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.02). Matthews International had a return on equity of 15.79% and a net margin of 1.43%. The firm had revenue of $427.83 million for the quarter, compared to analyst estimates of $450.03 million. During the same quarter in the previous year, the firm posted $0.74 EPS. Sell-side analysts expect that Matthews International Co. will post 2.53 earnings per share for the current fiscal year.

Matthews International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Monday, August 5th were paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 4.44%. The ex-dividend date of this dividend was Monday, August 5th. Matthews International’s payout ratio is 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.