Point72 DIFC Ltd Purchases Shares of 1,961 Matthews International Co. (NASDAQ:MATW)

Point72 DIFC Ltd acquired a new position in shares of Matthews International Co. (NASDAQ:MATW) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 1,961 shares of the company’s stock, valued at approximately $49,000.

Several other institutional investors have also recently modified their holdings of MATW. Vanguard Group Inc. grew its holdings in Matthews International by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 3,619,317 shares of the company’s stock valued at $112,488,000 after buying an additional 76,752 shares during the last quarter. Gamco Investors INC. ET AL lifted its position in shares of Matthews International by 1.1% in the first quarter. Gamco Investors INC. ET AL now owns 1,072,951 shares of the company’s stock valued at $33,347,000 after acquiring an additional 11,650 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Matthews International by 11.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 652,665 shares of the company’s stock valued at $16,349,000 after acquiring an additional 65,188 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Matthews International by 4.3% during the second quarter. Bank of New York Mellon Corp now owns 360,165 shares of the company’s stock valued at $9,022,000 after acquiring an additional 14,737 shares during the last quarter. Finally, ProShare Advisors LLC raised its stake in Matthews International by 20.2% in the 1st quarter. ProShare Advisors LLC now owns 266,146 shares of the company’s stock valued at $8,272,000 after purchasing an additional 44,798 shares during the last quarter. 83.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, B. Riley decreased their price target on shares of Matthews International from $54.00 to $40.00 and set a “buy” rating on the stock in a research note on Thursday.

Matthews International Trading Up 0.8 %

Shares of Matthews International stock opened at $22.97 on Friday. Matthews International Co. has a fifty-two week low of $22.47 and a fifty-two week high of $40.80. The business’s fifty day moving average is $25.20 and its two-hundred day moving average is $26.61. The company has a quick ratio of 1.02, a current ratio of 1.66 and a debt-to-equity ratio of 1.64. The firm has a market cap of $705.41 million, a PE ratio of 21.67 and a beta of 1.08.

Matthews International (NASDAQ:MATW) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.02). Matthews International had a return on equity of 15.79% and a net margin of 1.43%. The business had revenue of $427.83 million during the quarter, compared to analyst estimates of $450.03 million. During the same period in the previous year, the business posted $0.74 earnings per share. Analysts anticipate that Matthews International Co. will post 2.53 earnings per share for the current year.

Matthews International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Monday, August 5th were given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 4.18%. The ex-dividend date was Monday, August 5th. Matthews International’s dividend payout ratio (DPR) is 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.