Y Intercept Hong Kong Ltd Acquires 9,082 Shares of Matthews International Co. (NASDAQ:MATW)

Y Intercept Hong Kong Ltd lifted its holdings in shares of Matthews International Co. (NASDAQ:MATW) by 56.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 25,147 shares of the company’s stock after purchasing an additional 9,082 shares during the period. Y Intercept Hong Kong Ltd owned 0.08% of Matthews International worth $583,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in MATW. KBC Group NV grew its holdings in shares of Matthews International by 63.7% during the third quarter. KBC Group NV now owns 1,937 shares of the company’s stock worth $45,000 after purchasing an additional 754 shares during the last quarter. Point72 DIFC Ltd bought a new stake in shares of Matthews International during the second quarter worth $49,000. nVerses Capital LLC bought a new stake in shares of Matthews International during the second quarter worth $110,000. SG Americas Securities LLC acquired a new position in shares of Matthews International during the second quarter valued at $112,000. Finally, BNP Paribas Financial Markets lifted its stake in shares of Matthews International by 7.7% during the third quarter. BNP Paribas Financial Markets now owns 6,602 shares of the company’s stock valued at $153,000 after acquiring an additional 471 shares during the period. Institutional investors own 83.08% of the company’s stock.

Matthews International Trading Down 0.4 %

Shares of MATW opened at $30.26 on Friday. 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 Co. has a 12-month low of $21.09 and a 12-month high of $39.12. The firm has a market capitalization of $926.02 million, a PE ratio of -15.68 and a beta of 1.13. The stock’s fifty day simple moving average is $25.45 and its 200-day simple moving average is $25.40.

Matthews International Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.30%. The ex-dividend date is Monday, December 2nd. This is a positive change from Matthews International’s previous quarterly dividend of $0.24. Matthews International’s dividend payout ratio is -51.81%.

Analysts Set New Price Targets

Separately, B. Riley cut their price target 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.