New York State Teachers Retirement System Lowers Stock Position in Matthews International Co. (NASDAQ:MATW)

New York State Teachers Retirement System lessened its position in shares of Matthews International Co. (NASDAQ:MATW) by 3.8% in the 4th quarter, HoldingsChannel reports. The fund owned 50,586 shares of the company’s stock after selling 2,001 shares during the period. New York State Teachers Retirement System’s holdings in Matthews International were worth $1,400,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of MATW. Polar Asset Management Partners Inc. acquired a new stake in shares of Matthews International in the third quarter worth $2,793,000. State Street Corp boosted its holdings in Matthews International by 6.8% during the third quarter. State Street Corp now owns 1,208,505 shares of the company’s stock worth $28,037,000 after buying an additional 76,911 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Matthews International by 10.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 781,592 shares of the company’s stock valued at $21,126,000 after purchasing an additional 73,240 shares in the last quarter. Barington Capital Group L.P. lifted its holdings in Matthews International by 18.2% during the third quarter. Barington Capital Group L.P. now owns 455,000 shares of the company’s stock valued at $10,556,000 after purchasing an additional 70,000 shares in the last quarter. Finally, Jane Street Group LLC lifted its holdings in Matthews International by 120.5% during the third quarter. Jane Street Group LLC now owns 79,861 shares of the company’s stock valued at $1,853,000 after purchasing an additional 43,650 shares in the last quarter. Institutional investors own 83.08% of the company’s stock.

Matthews International Price Performance

Shares of NASDAQ MATW opened at $24.25 on Monday. The firm has a 50-day simple moving average of $28.04 and a 200-day simple moving average of $25.99. The stock has a market capitalization of $751.00 million, a price-to-earnings ratio of -12.31 and a beta of 1.14. The company has a quick ratio of 0.96, a current ratio of 1.58 and a debt-to-equity ratio of 1.94. Matthews International Co. has a 52 week low of $21.09 and a 52 week high of $32.24.

Matthews International (NASDAQ:MATW) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.14 earnings per share (EPS) 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%. On average, equities analysts predict that Matthews International Co. will post 1.73 earnings per share for the current fiscal year.

Matthews International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Stockholders of record on Monday, February 10th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.12%. The ex-dividend date of this dividend is Monday, February 10th. Matthews International’s payout ratio is -50.76%.

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.