28,953 Shares in Matthews International Co. (NASDAQ:MATW) Bought by Renaissance Technologies LLC

Renaissance Technologies LLC acquired a new stake in Matthews International Co. (NASDAQ:MATW) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 28,953 shares of the company’s stock, valued at approximately $725,000. Renaissance Technologies LLC owned 0.09% of Matthews International as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also made changes to their positions in MATW. American Century Companies Inc. grew its holdings in shares of Matthews International by 15.2% during the second quarter. American Century Companies Inc. now owns 42,213 shares of the company’s stock worth $1,057,000 after buying an additional 5,573 shares during the last quarter. nVerses Capital LLC acquired a new stake in shares of Matthews International in the 2nd quarter worth $110,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of Matthews International by 11.1% in the second quarter. Allspring Global Investments Holdings LLC now owns 652,665 shares of the company’s stock valued at $16,349,000 after acquiring an additional 65,188 shares in the last quarter. 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, SummerHaven Investment Management LLC increased its position in Matthews International by 3.5% during the 2nd quarter. SummerHaven Investment Management LLC now owns 16,118 shares of the company’s stock worth $404,000 after purchasing an additional 538 shares during the period. 83.08% of the stock is owned by hedge funds and other institutional investors.

Matthews International Trading Up 0.9 %

Shares of MATW opened at $21.56 on Wednesday. Matthews International Co. has a twelve month low of $21.09 and a twelve month high of $40.80. The company has a current ratio of 1.66, a quick ratio of 1.02 and a debt-to-equity ratio of 1.64. The firm has a market capitalization of $662.11 million, a P/E ratio of 20.34 and a beta of 1.07. The firm’s 50-day moving average is $24.37 and its two-hundred day moving average is $26.24.

Matthews International (NASDAQ:MATW) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.02). The firm had revenue of $427.83 million during the quarter, compared to analyst estimates of $450.03 million. Matthews International had a return on equity of 15.79% and a net margin of 1.43%. During the same quarter in the prior year, the company earned $0.74 EPS. On average, research analysts predict that Matthews International Co. will post 2.53 earnings per share for the current fiscal year.

Matthews International Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Monday, August 5th were given a $0.24 dividend. The ex-dividend date was Monday, August 5th. This represents a $0.96 annualized dividend and a dividend yield of 4.45%. Matthews International’s dividend payout ratio is presently 90.57%.

Wall Street Analysts Forecast Growth

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

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.