Janney Montgomery Scott LLC Lowers Position in Matthews International Co. (NASDAQ:MATW)

Janney Montgomery Scott LLC cut its stake in Matthews International Co. (NASDAQ:MATW) by 25.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,830 shares of the company’s stock after selling 3,000 shares during the period. Janney Montgomery Scott LLC’s holdings in Matthews International were worth $244,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of MATW. The Manufacturers Life Insurance Company lifted its holdings in shares of Matthews International by 6.9% during the second quarter. The Manufacturers Life Insurance Company now owns 15,707 shares of the company’s stock valued at $393,000 after purchasing an additional 1,013 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of Matthews International by 226.0% during the third quarter. SG Americas Securities LLC now owns 14,577 shares of the company’s stock valued at $338,000 after purchasing an additional 10,105 shares during the last quarter. Inspire Investing LLC lifted its holdings in shares of Matthews International by 25.8% during the third quarter. Inspire Investing LLC now owns 19,608 shares of the company’s stock valued at $455,000 after purchasing an additional 4,018 shares during the last quarter. Wedge Capital Management L L P NC lifted its holdings in shares of Matthews International by 12.7% during the third quarter. Wedge Capital Management L L P NC now owns 55,936 shares of the company’s stock valued at $1,298,000 after purchasing an additional 6,323 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Matthews International by 8.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 708,352 shares of the company’s stock valued at $16,434,000 after purchasing an additional 55,687 shares during the last quarter. 83.08% of the stock is currently owned by hedge funds and other institutional investors.

Matthews International Price Performance

MATW stock opened at $24.59 on Thursday. The firm has a 50 day moving average price of $28.76 and a 200-day moving average price of $26.09. Matthews International Co. has a 52-week low of $21.09 and a 52-week high of $32.24. The firm has a market capitalization of $761.55 million, a price-to-earnings ratio of -12.48 and a beta of 1.14. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.91 and a current ratio of 1.45.

Matthews International (NASDAQ:MATW) last released its earnings results on Thursday, February 6th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.12). Matthews International had a negative net margin of 3.48% and a positive return on equity of 12.42%. Equities research analysts forecast that Matthews International Co. will post 2 EPS for the current fiscal year.

Matthews International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 24th. Investors of record on Monday, February 10th will be issued a $0.25 dividend. The ex-dividend date is Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a yield of 4.07%. Matthews International’s payout ratio is currently -50.76%.

Matthews International Company 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.