Matthews International Co. (NASDAQ:MATW) Stake Raised by Jane Street Group LLC

Jane Street Group LLC increased its holdings in Matthews International Co. (NASDAQ:MATW) by 120.5% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 79,861 shares of the company’s stock after purchasing an additional 43,650 shares during the quarter. Jane Street Group LLC’s holdings in Matthews International were worth $1,853,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets boosted its position 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 during the period. KBC Group NV raised its stake in shares of Matthews International by 63.7% during the third quarter. KBC Group NV now owns 1,937 shares of the company’s stock valued at $45,000 after purchasing an additional 754 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Matthews International by 6.9% in the second quarter. The Manufacturers Life Insurance Company now owns 15,707 shares of the company’s stock worth $393,000 after purchasing an additional 1,013 shares during the period. Point72 DIFC Ltd bought a new position in Matthews International in the 2nd quarter valued at about $49,000. Finally, Inspire Investing LLC increased its stake in Matthews International by 20.0% during the 2nd quarter. Inspire Investing LLC now owns 15,590 shares of the company’s stock valued at $391,000 after buying an additional 2,598 shares during the period. 83.08% of the stock is currently owned by institutional investors and hedge funds.

Matthews International Stock Up 1.6 %

MATW opened at $27.82 on Thursday. 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 has a market capitalization of $851.35 million, a PE ratio of -14.41 and a beta of 1.13. The stock’s fifty day moving average is $26.36 and its 200-day moving average is $25.39. Matthews International Co. has a one year low of $21.09 and a one year high of $39.12.

Matthews International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This is a boost from Matthews International’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 3.59%. Matthews International’s payout ratio is -51.81%.

Analysts Set New Price Targets

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