KBC Group NV Boosts Stock Position in Matthews International Co. (NASDAQ:MATW)

KBC Group NV grew its holdings in Matthews International Co. (NASDAQ:MATW) by 63.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,937 shares of the company’s stock after acquiring an additional 754 shares during the period. KBC Group NV’s holdings in Matthews International were worth $45,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MATW. SummerHaven Investment Management LLC lifted its holdings in shares of Matthews International by 3.5% in the 2nd quarter. SummerHaven Investment Management LLC now owns 16,118 shares of the company’s stock valued at $404,000 after acquiring an additional 538 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Matthews International by 6.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,707 shares of the company’s stock worth $393,000 after buying an additional 1,013 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Matthews International by 1.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 68,771 shares of the company’s stock valued at $2,138,000 after buying an additional 1,063 shares during the period. Point72 DIFC Ltd purchased a new position in shares of Matthews International during the 2nd quarter valued at approximately $49,000. Finally, Gabelli Funds LLC grew its position in shares of Matthews International by 1.8% during the 1st quarter. Gabelli Funds LLC now owns 144,746 shares of the company’s stock valued at $4,499,000 after acquiring an additional 2,500 shares during the period. 83.08% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, B. Riley dropped their target price on shares of Matthews International from $54.00 to $40.00 and set a “buy” rating on the stock in a research report on Thursday, September 26th.

Matthews International Stock Performance

Shares of Matthews International stock opened at $30.84 on Friday. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.02 and a current ratio of 1.66. Matthews International Co. has a one year low of $21.09 and a one year high of $39.12. The business’s 50 day moving average price is $23.26 and its 200 day moving average price is $25.25. The company has a market cap of $943.70 million, a price-to-earnings ratio of -15.98 and a beta of 1.06.

Matthews International Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.25 dividend. The ex-dividend date is Monday, December 2nd. This is a boost from Matthews International’s previous quarterly dividend of $0.24. This represents a $1.00 dividend on an annualized basis and a yield of 3.24%. Matthews International’s dividend payout ratio is currently -49.74%.

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.