Barclays PLC Purchases 41,711 Shares of Matthews International Co. (NASDAQ:MATW)

Barclays PLC lifted its position in Matthews International Co. (NASDAQ:MATW) by 375.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 52,823 shares of the company’s stock after purchasing an additional 41,711 shares during the quarter. Barclays PLC owned 0.17% of Matthews International worth $1,225,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. State Street Corp increased its stake in shares of Matthews International by 6.8% in the third quarter. State Street Corp now owns 1,208,505 shares of the company’s stock worth $28,037,000 after buying an additional 76,911 shares during the period. Geode Capital Management LLC increased its position in shares of Matthews International by 0.9% in the third quarter. Geode Capital Management LLC now owns 729,539 shares of the company’s stock valued at $16,929,000 after acquiring an additional 6,536 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Matthews International by 8.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 708,352 shares of the company’s stock valued at $16,434,000 after acquiring an additional 55,687 shares during the last quarter. Barington Capital Group L.P. boosted its holdings in shares of Matthews International by 18.2% during the third quarter. Barington Capital Group L.P. now owns 455,000 shares of the company’s stock worth $10,556,000 after purchasing an additional 70,000 shares during the period. Finally, Polar Asset Management Partners Inc. purchased a new position in Matthews International during the 3rd quarter valued at about $2,793,000. 83.08% of the stock is currently owned by institutional investors.

Matthews International Trading Up 2.8 %

Shares of Matthews International stock opened at $30.52 on Tuesday. The company has a quick ratio of 0.91, a current ratio of 1.45 and a debt-to-equity ratio of 1.76. Matthews International Co. has a twelve month low of $21.09 and a twelve month high of $35.19. The business has a 50-day moving average price of $27.79 and a 200-day moving average price of $25.63. The firm has a market cap of $933.97 million, a price-to-earnings ratio of -15.81 and a beta of 1.14.

Matthews International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a dividend of $0.25 per share. 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 dividend on an annualized basis and a dividend yield of 3.28%. Matthews International’s dividend payout ratio is currently -51.81%.

Analyst Upgrades and Downgrades

Separately, B. Riley decreased their price objective on Matthews International from $54.00 to $40.00 and set a “buy” rating for the company in a 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.