Barclays PLC Boosts Stake in Matthews International Co. (NASDAQ:MATW)

Barclays PLC grew its stake in Matthews International Co. (NASDAQ:MATW) by 375.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 52,823 shares of the company’s stock after acquiring an additional 41,711 shares during the quarter. Barclays PLC’s holdings in Matthews International were worth $1,225,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in MATW. KBC Group NV boosted its holdings in Matthews International by 63.7% in the third quarter. KBC Group NV now owns 1,937 shares of the company’s stock worth $45,000 after acquiring an additional 754 shares in the last quarter. Point72 DIFC Ltd purchased a new position in shares of Matthews International in the 2nd quarter valued at approximately $49,000. BNP Paribas Financial Markets boosted its stake in Matthews International by 7.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 6,602 shares of the company’s stock worth $153,000 after purchasing an additional 471 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in Matthews International during the 3rd quarter worth approximately $222,000. Finally, Victory Capital Management Inc. acquired a new position in Matthews International during the 3rd quarter valued at approximately $235,000. Institutional investors own 83.08% of the company’s stock.

Analysts Set New Price Targets

Separately, B. Riley cut their target price on Matthews International from $54.00 to $40.00 and set a “buy” rating on the stock in a research report on Thursday, September 26th.

Matthews International Stock Up 2.8 %

Shares of MATW opened at $30.52 on Tuesday. The company has a market capitalization of $933.97 million, a price-to-earnings ratio of -15.81 and a beta of 1.14. Matthews International Co. has a 52 week low of $21.09 and a 52 week high of $35.19. The stock’s 50-day moving average price is $27.79 and its 200-day moving average price is $25.63. The company has a quick ratio of 0.91, a current ratio of 1.45 and a debt-to-equity ratio of 1.76.

Matthews International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were given a dividend of $0.25 per share. This is a positive change 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 dividend on an annualized basis and a dividend yield of 3.28%. Matthews International’s dividend payout ratio (DPR) is -51.81%.

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.