Matthews International Co. (NASDAQ:MATW) Shares Purchased by Barington Capital Group L.P.

Barington Capital Group L.P. boosted its holdings in shares of Matthews International Co. (NASDAQ:MATW) by 18.2% during the third quarter, Holdings Channel.com reports. The institutional investor owned 455,000 shares of the company’s stock after buying an additional 70,000 shares during the period. Matthews International accounts for 11.2% of Barington Capital Group L.P.’s investment portfolio, making the stock its 5th largest holding. Barington Capital Group L.P.’s holdings in Matthews International were worth $10,556,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets grew its position 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 worth $153,000 after buying an additional 471 shares in the last quarter. SummerHaven Investment Management LLC grew its holdings in Matthews International by 3.5% during the 2nd quarter. SummerHaven Investment Management LLC now owns 16,118 shares of the company’s stock worth $404,000 after acquiring an additional 538 shares in the last quarter. KBC Group NV grew its holdings in Matthews International by 63.7% during the 3rd quarter. KBC Group NV now owns 1,937 shares of the company’s stock worth $45,000 after acquiring an additional 754 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Matthews International by 6.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,707 shares of the company’s stock valued at $393,000 after purchasing an additional 1,013 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Matthews International by 1.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 68,771 shares of the company’s stock worth $2,138,000 after purchasing an additional 1,063 shares during the last quarter. Hedge funds and other institutional investors own 83.08% of the company’s stock.

Matthews International Price Performance

MATW stock opened at $30.16 on Monday. The business has a 50 day moving average price of $23.93 and a 200 day moving average price of $25.26. The company has a quick ratio of 0.91, a current ratio of 1.45 and a debt-to-equity ratio of 1.76. The stock has a market cap of $922.90 million, a price-to-earnings ratio of -15.63 and a beta of 1.06. Matthews International Co. has a fifty-two week low of $21.09 and a fifty-two week high of $39.12.

Matthews International Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.32%. The ex-dividend date of this dividend is Monday, December 2nd. This is an increase from Matthews International’s previous quarterly dividend of $0.24. Matthews International’s payout ratio is currently -49.74%.

Analyst Upgrades and Downgrades

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 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.