Skylands Capital LLC Has $1.99 Million Position in Matthews International Co. (NASDAQ:MATW)

Skylands Capital LLC reduced its position in shares of Matthews International Co. (NASDAQ:MATW) by 3.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 72,000 shares of the company’s stock after selling 2,850 shares during the period. Skylands Capital LLC’s holdings in Matthews International were worth $1,993,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. New York State Common Retirement Fund lifted its holdings in Matthews International by 3.1% during the 4th quarter. New York State Common Retirement Fund now owns 195,159 shares of the company’s stock worth $5,402,000 after purchasing an additional 5,892 shares during the last quarter. Principal Financial Group Inc. increased its stake in Matthews International by 2.9% during the 4th quarter. Principal Financial Group Inc. now owns 148,323 shares of the company’s stock worth $4,106,000 after acquiring an additional 4,137 shares during the period. Rhumbline Advisers increased its stake in Matthews International by 3.3% during the 4th quarter. Rhumbline Advisers now owns 92,695 shares of the company’s stock worth $2,566,000 after acquiring an additional 2,921 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Matthews International by 10.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 781,592 shares of the company’s stock worth $21,126,000 after acquiring an additional 73,240 shares during the period. Finally, Waldron Private Wealth LLC bought a new position in Matthews International during the 4th quarter worth $213,000. 83.08% of the stock is owned by institutional investors and hedge funds.

Matthews International Price Performance

Matthews International stock opened at $24.25 on Monday. The stock’s fifty day moving average price is $28.04 and its two-hundred day moving average price is $25.99. Matthews International Co. has a one year low of $21.09 and a one year high of $32.24. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.58 and a quick ratio of 0.96. The firm has a market cap of $751.00 million, a PE ratio of -12.31 and a beta of 1.14.

Matthews International (NASDAQ:MATW) last posted its quarterly earnings data on Thursday, February 6th. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates 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, research analysts expect that Matthews International Co. will post 1.73 EPS for the current fiscal year.

Matthews International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 24th. Stockholders of record on Monday, February 10th will be paid a $0.25 dividend. The ex-dividend date is Monday, February 10th. This represents a $1.00 annualized dividend and a dividend yield of 4.12%. 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.