Charles Schwab Investment Management Inc. Cuts Position in Matthews International Co. (NASDAQ:MATW)

Charles Schwab Investment Management Inc. lessened its holdings in Matthews International Co. (NASDAQ:MATW) by 9.3% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 331,717 shares of the company’s stock after selling 34,175 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Matthews International were worth $9,182,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. State Street Corp raised its holdings in shares of Matthews International by 6.8% in the 3rd quarter. State Street Corp now owns 1,208,505 shares of the company’s stock worth $28,037,000 after purchasing an additional 76,911 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in shares of Matthews International by 10.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 781,592 shares of the company’s stock worth $21,126,000 after purchasing an additional 73,240 shares during the period. Geode Capital Management LLC raised its holdings in Matthews International by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 729,539 shares of the company’s stock valued at $16,929,000 after acquiring an additional 6,536 shares during the period. Barington Capital Group L.P. raised its holdings in Matthews International by 18.2% during the 3rd quarter. Barington Capital Group L.P. now owns 455,000 shares of the company’s stock valued at $10,556,000 after acquiring an additional 70,000 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in Matthews International by 10.0% during the 4th quarter. Bank of New York Mellon Corp now owns 375,855 shares of the company’s stock valued at $10,404,000 after acquiring an additional 34,064 shares during the period. Hedge funds and other institutional investors own 83.08% of the company’s stock.

Matthews International Stock Performance

Shares of MATW stock opened at $23.15 on Friday. The stock has a market capitalization of $716.93 million, a price-to-earnings ratio of -11.75 and a beta of 1.09. Matthews International Co. has a 1 year low of $21.09 and a 1 year high of $32.24. The company’s fifty day simple moving average is $26.20 and its two-hundred day simple moving average is $25.75. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.58 and a quick ratio of 0.96.

Matthews International (NASDAQ:MATW) last released its quarterly earnings results on Thursday, February 6th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.12). Matthews International had a positive return on equity of 12.88% and a negative net margin of 3.48%. As a group, analysts anticipate that Matthews International Co. will post 1.73 earnings per share for the current year.

Matthews International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, February 24th. Investors of record on Monday, February 10th were given a $0.25 dividend. The ex-dividend date was Monday, February 10th. This represents a $1.00 annualized dividend and a yield of 4.32%. Matthews International’s dividend payout ratio (DPR) is presently -50.76%.

Matthews International 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.