Inspire Investing LLC Has $391,000 Holdings in Matthews International Co. (NASDAQ:MATW)

Inspire Investing LLC grew its position in shares of Matthews International Co. (NASDAQ:MATW) by 20.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,590 shares of the company’s stock after buying an additional 2,598 shares during the quarter. Inspire Investing LLC owned approximately 0.05% of Matthews International worth $391,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC lifted its stake in Matthews International by 25.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 587,477 shares of the company’s stock valued at $18,259,000 after acquiring an additional 117,461 shares during the last quarter. ProShare Advisors LLC raised its holdings in shares of Matthews International by 20.2% during the 1st quarter. ProShare Advisors LLC now owns 266,146 shares of the company’s stock valued at $8,272,000 after purchasing an additional 44,798 shares in the last quarter. Norges Bank acquired a new stake in shares of Matthews International in the 4th quarter valued at $7,200,000. Price T Rowe Associates Inc. MD boosted its holdings in Matthews International by 1.6% in 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. Finally, PNC Financial Services Group Inc. increased its position in Matthews International by 267.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 19,269 shares of the company’s stock worth $706,000 after buying an additional 14,030 shares during the last quarter. Institutional investors own 83.08% of the company’s stock.

Matthews International Price Performance

Shares of NASDAQ:MATW opened at $23.36 on Friday. The stock has a market capitalization of $717.39 million, a P/E ratio of 22.04 and a beta of 1.08. The business has a 50-day moving average of $25.60 and a two-hundred day moving average of $26.83. Matthews International Co. has a fifty-two week low of $22.47 and a fifty-two week high of $41.14. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.66 and a quick ratio of 1.02.

Matthews International (NASDAQ:MATW) last announced its earnings results on Thursday, August 1st. The company reported $0.56 earnings per share (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 company had revenue of $427.83 million for the quarter, compared to the consensus estimate of $450.03 million. During the same period in the previous year, the company earned $0.74 EPS. On average, equities research analysts predict that Matthews International Co. will post 2.53 EPS for the current fiscal year.

Matthews International Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Monday, August 5th were issued a $0.24 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $0.96 annualized dividend and a yield of 4.11%. Matthews International’s dividend payout ratio (DPR) is presently 90.57%.

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.