Matthews International Co. (NASDAQ:MATW) Stock Position Decreased by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its holdings in shares of Matthews International Co. (NASDAQ:MATW) by 4.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 144,186 shares of the company’s stock after selling 7,203 shares during the quarter. Principal Financial Group Inc. owned approximately 0.47% of Matthews International worth $3,345,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of MATW. Bank of New York Mellon Corp raised its position in shares of Matthews International by 4.3% during the 2nd 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 during the period. American Century Companies Inc. increased its position in Matthews International by 15.2% in 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 period. Renaissance Technologies LLC bought a new stake in Matthews International in the second quarter valued at $725,000. XTX Topco Ltd acquired a new position in shares of Matthews International during the second quarter valued at $246,000. Finally, Inspire Investing LLC grew its position in shares of Matthews International by 20.0% during the second quarter. Inspire Investing LLC now owns 15,590 shares of the company’s stock worth $391,000 after acquiring an additional 2,598 shares during the last quarter. Institutional investors own 83.08% of the company’s stock.

Matthews International Stock Performance

Shares of MATW stock opened at $27.54 on Friday. Matthews International Co. has a 12-month low of $21.09 and a 12-month high of $35.69. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.45 and a quick ratio of 0.91. The firm has a market capitalization of $842.78 million, a price-to-earnings ratio of -14.27 and a beta of 1.14. The business has a 50 day simple moving average of $27.20 and a 200 day simple moving average of $25.47.

Matthews International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a $0.25 dividend. This is a boost from Matthews International’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $1.00 annualized dividend and a dividend yield of 3.63%. Matthews International’s dividend payout ratio is presently -51.81%.

Wall Street Analysts Forecast Growth

Separately, B. Riley cut their price objective 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.

About Matthews International

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.