JPMorgan Chase & Co. Grows Stake in Matthews International Co. (NASDAQ:MATW)

JPMorgan Chase & Co. increased its holdings in shares of Matthews International Co. (NASDAQ:MATW) by 14.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 50,279 shares of the company’s stock after purchasing an additional 6,514 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.16% of Matthews International worth $1,166,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. KBC Group NV raised its holdings in 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 purchasing an additional 754 shares in the last quarter. Point72 DIFC Ltd acquired a new stake in Matthews International during the 2nd quarter worth $49,000. BNP Paribas Financial Markets raised its stake in Matthews International by 7.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 6,602 shares of the company’s stock worth $153,000 after acquiring an additional 471 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in Matthews International in the third quarter valued at $222,000. Finally, Victory Capital Management Inc. acquired a new position in Matthews International in the third quarter valued at $235,000. Hedge funds and other institutional investors own 83.08% of the company’s stock.

Matthews International Stock Down 3.9 %

MATW opened at $28.97 on Friday. Matthews International Co. has a one year low of $21.09 and a one year high of $35.19. 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 stock has a market capitalization of $897.20 million, a P/E ratio of -15.01 and a beta of 1.14. The business’s 50-day simple moving average is $29.10 and its 200-day simple moving average is $26.03.

Matthews International (NASDAQ:MATW) last released its quarterly earnings results on Thursday, November 21st. The company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.41 by $0.14. Matthews International had a positive return on equity of 13.69% and a negative net margin of 3.32%. During the same quarter last year, the business earned $0.96 EPS. Analysts anticipate that Matthews International Co. will post 2 EPS for the current year.

Matthews International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a $0.25 dividend. This is an increase 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 yield of 3.45%. Matthews International’s dividend payout ratio is -51.81%.

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.