Matthews International Corporation (NASDAQ:MATW) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC increased its position in shares of Matthews International Corporation (NASDAQ:MATW) by 3,527.7% in the 1st quarter, HoldingsChannel reports. The firm owned 24,197 shares of the company’s stock after purchasing an additional 23,530 shares during the period. GAMMA Investing LLC’s holdings in Matthews International were worth $538,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in MATW. Ameriprise Financial Inc. increased its position in Matthews International by 10.0% during the 4th quarter. Ameriprise Financial Inc. now owns 1,854,343 shares of the company’s stock worth $51,328,000 after purchasing an additional 168,970 shares during the period. Barington Capital Group L.P. grew its holdings in Matthews International by 23.9% during the fourth quarter. Barington Capital Group L.P. now owns 563,962 shares of the company’s stock worth $15,610,000 after acquiring an additional 108,962 shares during the period. Quinn Opportunity Partners LLC grew its holdings in Matthews International by 100.7% during the fourth quarter. Quinn Opportunity Partners LLC now owns 192,620 shares of the company’s stock worth $5,332,000 after acquiring an additional 96,646 shares during the period. Russell Investments Group Ltd. raised its position in Matthews International by 1,718.7% in the fourth quarter. Russell Investments Group Ltd. now owns 85,662 shares of the company’s stock worth $2,371,000 after acquiring an additional 80,952 shares in the last quarter. Finally, Formula Growth Ltd. purchased a new position in Matthews International in the fourth quarter worth $1,329,000. Institutional investors and hedge funds own 83.08% of the company’s stock.

Matthews International Price Performance

Matthews International stock opened at $21.29 on Thursday. The company has a market cap of $660.20 million, a P/E ratio of -8.35 and a beta of 1.24. Matthews International Corporation has a one year low of $18.50 and a one year high of $32.24. The business has a fifty day moving average of $20.88 and a two-hundred day moving average of $24.45. The company has a debt-to-equity ratio of 2.00, a quick ratio of 1.09 and a current ratio of 1.59.

Matthews International (NASDAQ:MATW) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.02). The company had revenue of $427.63 million during the quarter, compared to analyst estimates of $435.62 million. Matthews International had a negative net margin of 4.62% and a positive return on equity of 11.04%. As a group, analysts predict that Matthews International Corporation will post 1.73 earnings per share for the current fiscal year.

Matthews International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, May 26th. Stockholders of record on Monday, May 12th were given a dividend of $0.25 per share. The ex-dividend date was Monday, May 12th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.70%. Matthews International’s payout ratio is -39.22%.

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.