Arizona State Retirement System Makes New $233,000 Investment in Matthews International Co. (NASDAQ:MATW)

Arizona State Retirement System purchased a new stake in Matthews International Co. (NASDAQ:MATW) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 8,400 shares of the company’s stock, valued at approximately $233,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC grew its position in Matthews International by 375.4% in the third quarter. Barclays PLC now owns 52,823 shares of the company’s stock worth $1,225,000 after acquiring an additional 41,711 shares in the last quarter. Jane Street Group LLC increased its position in Matthews International by 120.5% during the third quarter. Jane Street Group LLC now owns 79,861 shares of the company’s stock worth $1,853,000 after buying an additional 43,650 shares during the last quarter. Barington Capital Group L.P. raised its holdings in Matthews International by 18.2% during the third quarter. Barington Capital Group L.P. now owns 455,000 shares of the company’s stock valued at $10,556,000 after buying an additional 70,000 shares in the last quarter. Geode Capital Management LLC raised its holdings in Matthews International by 0.9% during the third quarter. Geode Capital Management LLC now owns 729,539 shares of the company’s stock valued at $16,929,000 after buying an additional 6,536 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Matthews International by 10.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 781,592 shares of the company’s stock worth $21,126,000 after buying an additional 73,240 shares during the last quarter. Institutional investors and hedge funds own 83.08% of the company’s stock.

Matthews International Stock Performance

Shares of NASDAQ MATW opened at $22.55 on Friday. The business’s 50-day simple moving average is $26.82 and its 200-day simple moving average is $25.83. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.96 and a current ratio of 1.58. Matthews International Co. has a 52 week low of $21.09 and a 52 week high of $32.24. The firm has a market cap of $698.35 million, a price-to-earnings ratio of -11.45 and a beta of 1.09.

Matthews International (NASDAQ:MATW) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.12). Matthews International had a positive return on equity of 12.88% and a negative net margin of 3.48%. As a group, equities research analysts expect that Matthews International Co. will post 1.73 earnings per share for the current fiscal year.

Matthews International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 24th. Investors of record on Monday, February 10th were given a dividend of $0.25 per share. The ex-dividend date was Monday, February 10th. This represents a $1.00 annualized dividend and a dividend yield of 4.43%. Matthews International’s dividend payout ratio is presently -50.76%.

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.