Quest Partners LLC Reduces Stock Position in Matthews International Co. (NASDAQ:MATW)

Quest Partners LLC trimmed its holdings in shares of Matthews International Co. (NASDAQ:MATW) by 14.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,180 shares of the company’s stock after selling 1,912 shares during the quarter. Quest Partners LLC’s holdings in Matthews International were worth $280,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. nVerses Capital LLC purchased a new stake in Matthews International during the second quarter valued at approximately $110,000. SG Americas Securities LLC purchased a new stake in Matthews International during the 2nd quarter valued at $112,000. Victory Capital Management Inc. lifted its position in Matthews International by 15.7% in the fourth quarter. Victory Capital Management Inc. now owns 6,027 shares of the company’s stock worth $221,000 after buying an additional 816 shares during the last quarter. Inspire Investing LLC boosted its stake in Matthews International by 12.3% during the first quarter. Inspire Investing LLC now owns 12,992 shares of the company’s stock worth $404,000 after buying an additional 1,428 shares during the period. Finally, SummerHaven Investment Management LLC boosted its stake in Matthews International by 3.5% during the second quarter. SummerHaven Investment Management LLC now owns 16,118 shares of the company’s stock worth $404,000 after buying an additional 538 shares during the period. Institutional investors own 83.08% of the company’s stock.

Matthews International Trading Up 2.9 %

Shares of MATW opened at $24.07 on Friday. The company’s fifty day simple moving average is $25.66 and its 200-day simple moving average is $27.01. The company has a market cap of $736.54 million, a P/E ratio of 22.71 and a beta of 1.08. The company has a current ratio of 1.66, a quick ratio of 1.02 and a debt-to-equity ratio of 1.64. Matthews International Co. has a twelve month low of $22.47 and a twelve month high of $41.24.

Matthews International (NASDAQ:MATW) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.58 by ($0.02). The firm had revenue of $427.83 million during the quarter, compared to the consensus estimate of $450.03 million. Matthews International had a return on equity of 15.79% and a net margin of 1.43%. During the same period in the previous year, the business earned $0.74 EPS. As a group, analysts expect that Matthews International Co. will post 2.53 EPS for the current year.

Matthews International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Monday, August 5th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 3.99%. The ex-dividend date of this dividend was Monday, August 5th. Matthews International’s dividend payout ratio (DPR) is presently 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.