Victory Capital Management Inc. Makes New $235,000 Investment in Matthews International Co. (NASDAQ:MATW)

Victory Capital Management Inc. purchased a new position in shares of Matthews International Co. (NASDAQ:MATW) during the third quarter, Holdings Channel.com reports. The institutional investor purchased 10,140 shares of the company’s stock, valued at approximately $235,000.

Other institutional investors have also recently bought and sold shares of the company. Point72 DIFC Ltd acquired a new stake in Matthews International during the second quarter worth $49,000. nVerses Capital LLC acquired a new stake in shares of Matthews International in the 2nd quarter valued at $110,000. SG Americas Securities LLC acquired a new stake in shares of Matthews International in the 2nd quarter valued at $112,000. GSA Capital Partners LLP acquired a new stake in shares of Matthews International in the 3rd quarter valued at $222,000. Finally, XTX Topco Ltd acquired a new stake in shares of Matthews International in the 2nd quarter valued at $246,000. Institutional investors and hedge funds own 83.08% of the company’s stock.

Matthews International Stock Down 0.6 %

Shares of NASDAQ:MATW opened at $30.16 on Friday. Matthews International Co. has a 52 week low of $21.09 and a 52 week high of $39.12. 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 company’s fifty day moving average is $23.93 and its 200-day moving average is $25.31. The company has a market capitalization of $922.96 million, a PE ratio of -15.63 and a beta of 1.06.

Matthews International Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.32%. This is a boost from Matthews International’s previous quarterly dividend of $0.24. The ex-dividend date of this dividend is Monday, December 2nd. Matthews International’s payout ratio is currently -51.81%.

Analyst Upgrades and Downgrades

Separately, B. Riley reduced their target price 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, 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.