GSA Capital Partners LLP Makes New $222,000 Investment in Matthews International Co. (NASDAQ:MATW)

GSA Capital Partners LLP purchased a new stake in Matthews International Co. (NASDAQ:MATW) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 9,559 shares of the company’s stock, valued at approximately $222,000.

A number of other institutional investors and hedge funds have also made changes to their positions in MATW. Vanguard Group Inc. raised its position in Matthews International by 2.2% in the first quarter. Vanguard Group Inc. now owns 3,619,317 shares of the company’s stock valued at $112,488,000 after purchasing an additional 76,752 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Matthews International by 8.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 708,352 shares of the company’s stock valued at $16,434,000 after buying an additional 55,687 shares during the period. Barington Capital Group L.P. increased its stake in shares of Matthews International by 18.1% during the second quarter. Barington Capital Group L.P. now owns 385,000 shares of the company’s stock worth $9,644,000 after acquiring an additional 59,000 shares during the period. Bank of New York Mellon Corp raised its holdings in Matthews International by 4.3% during the second quarter. Bank of New York Mellon Corp now owns 360,165 shares of the company’s stock worth $9,022,000 after purchasing an additional 14,737 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in Matthews International by 1.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 68,771 shares of the company’s stock worth $2,138,000 after purchasing an additional 1,063 shares in the last quarter. 83.08% of the stock is owned by hedge funds and other institutional investors.

Matthews International Price Performance

Matthews International stock opened at $30.84 on Monday. The company has a market cap of $943.70 million, a P/E ratio of -15.98 and a beta of 1.06. Matthews International Co. has a one year low of $21.09 and a one year high of $39.12. The business has a fifty day moving average of $23.26 and a two-hundred day moving average of $25.20. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.02 and a current ratio of 1.66.

Matthews International Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from Matthews International’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a yield of 3.24%. Matthews International’s dividend payout ratio (DPR) is -49.74%.

Analysts Set New Price Targets

Separately, B. Riley dropped their target price on Matthews International from $54.00 to $40.00 and set a “buy” rating on the stock in a research report on Thursday, September 26th.

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.