Wedge Capital Management L L P NC Acquires 5,748 Shares of Matthews International Co. (NASDAQ:MATW)

Wedge Capital Management L L P NC increased its holdings in shares of Matthews International Co. (NASDAQ:MATW) by 24.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 29,578 shares of the company’s stock after purchasing an additional 5,748 shares during the quarter. Wedge Capital Management L L P NC owned 0.10% of Matthews International worth $1,084,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of MATW. Covestor Ltd increased its stake in Matthews International by 15,914.3% during the 3rd quarter. Covestor Ltd now owns 1,121 shares of the company’s stock worth $43,000 after purchasing an additional 1,114 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Matthews International by 39.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,962 shares of the company’s stock valued at $193,000 after purchasing an additional 1,401 shares during the last quarter. D.A. Davidson & CO. acquired a new position in Matthews International during the third quarter worth $211,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Matthews International by 17.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,841 shares of the company’s stock worth $214,000 after purchasing an additional 879 shares during the period. Finally, Dark Forest Capital Management LP bought a new position in Matthews International during the third quarter worth $420,000. 83.08% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on MATW. B. Riley reduced their price objective on shares of Matthews International from $61.00 to $59.00 and set a “buy” rating for the company in a research report on Monday, February 5th. StockNews.com cut shares of Matthews International from a “buy” rating to a “hold” rating in a research report on Friday, February 9th.

Matthews International Trading Up 2.3 %

Shares of Matthews International stock opened at $27.55 on Friday. The firm has a 50-day moving average of $28.48 and a 200-day moving average of $32.89. The stock has a market cap of $845.23 million, a PE ratio of 25.99 and a beta of 1.12. Matthews International Co. has a 52-week low of $25.42 and a 52-week high of $48.86. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.15 and a current ratio of 1.88.

Matthews International (NASDAQ:MATW) last announced its earnings results on Thursday, February 1st. The company reported $0.37 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.37. The company had revenue of $449.99 million during the quarter, compared to analysts’ expectations of $437.77 million. Matthews International had a net margin of 1.77% and a return on equity of 16.44%. As a group, sell-side analysts forecast that Matthews International Co. will post 2.6 EPS for the current year.

Matthews International Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Monday, May 6th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 3.48%. The ex-dividend date is Friday, May 3rd. Matthews International’s dividend payout ratio (DPR) is presently 90.57%.

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.