Charles Schwab Investment Management Inc. Sells 50,284 Shares of Matthews International Co. (NASDAQ:MATW)

Charles Schwab Investment Management Inc. cut its holdings in shares of Matthews International Co. (NASDAQ:MATW) by 12.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 365,892 shares of the company’s stock after selling 50,284 shares during the period. Charles Schwab Investment Management Inc. owned approximately 1.20% of Matthews International worth $8,489,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. KBC Group NV increased its position in shares of Matthews International by 63.7% during the third quarter. KBC Group NV now owns 1,937 shares of the company’s stock worth $45,000 after acquiring an additional 754 shares in the last quarter. Point72 DIFC Ltd bought a new stake in Matthews International in the 2nd quarter worth about $49,000. nVerses Capital LLC bought a new stake in Matthews International in the 2nd quarter worth about $110,000. SG Americas Securities LLC bought a new stake in Matthews International in the 2nd quarter worth about $112,000. Finally, GSA Capital Partners LLP bought a new stake in Matthews International in the 3rd quarter worth about $222,000. 83.08% of the stock is owned by institutional investors.

Matthews International Trading Up 3.7 %

Shares of MATW stock opened at $30.98 on Wednesday. The company has a debt-to-equity ratio of 1.76, a quick ratio of 0.91 and a current ratio of 1.45. The company has a market capitalization of $948.05 million, a price-to-earnings ratio of -16.05 and a beta of 1.13. Matthews International Co. has a 52-week low of $21.09 and a 52-week high of $39.12. The company has a 50-day simple moving average of $24.95 and a two-hundred day simple moving average of $25.33.

Matthews International Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 3.23%. This is a boost from Matthews International’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Monday, December 2nd. Matthews International’s payout ratio is presently -51.81%.

Analysts Set New Price Targets

Separately, B. Riley reduced their price objective on shares of 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.