Amalgamated Bank Has $226,000 Stock Position in Matthews International Co. (NASDAQ:MATW)

Amalgamated Bank lowered its position in Matthews International Co. (NASDAQ:MATW) by 8.6% in the second quarter, Holdings Channel.com reports. The fund owned 9,034 shares of the company’s stock after selling 850 shares during the period. Amalgamated Bank’s holdings in Matthews International were worth $226,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new stake in Matthews International during the fourth quarter worth $7,200,000. Gabelli Funds LLC lifted its holdings in shares of Matthews International by 1.4% during the 4th quarter. Gabelli Funds LLC now owns 142,246 shares of the company’s stock worth $5,213,000 after acquiring an additional 1,896 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Matthews International by 267.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 19,269 shares of the company’s stock valued at $706,000 after acquiring an additional 14,030 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Matthews International by 25.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 587,477 shares of the company’s stock valued at $18,259,000 after acquiring an additional 117,461 shares during the period. Finally, BNP Paribas Financial Markets raised its position in Matthews International by 18.7% in the first quarter. BNP Paribas Financial Markets now owns 14,873 shares of the company’s stock worth $462,000 after purchasing an additional 2,344 shares in the last quarter. Institutional investors and hedge funds own 83.08% of the company’s stock.

Matthews International Stock Performance

Matthews International stock opened at $23.20 on Tuesday. Matthews International Co. has a 52-week low of $22.47 and a 52-week high of $40.80. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.66 and a quick ratio of 1.02. The stock has a fifty day moving average price of $25.12 and a two-hundred day moving average price of $26.54. The firm has a market capitalization of $712.47 million, a P/E ratio of 21.89 and a beta of 1.08.

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

Matthews International Announces Dividend

The firm 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. The ex-dividend date was Monday, August 5th. This represents a $0.96 dividend on an annualized basis and a yield of 4.14%. Matthews International’s dividend payout ratio (DPR) is presently 90.57%.

Analysts Set New Price Targets

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

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.