Peapack Gladstone Financial Corp Takes Position in Matthews International Corporation $MATW

Peapack Gladstone Financial Corp bought a new stake in shares of Matthews International Corporation (NASDAQ:MATW) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 25,995 shares of the company’s stock, valued at approximately $679,000. Peapack Gladstone Financial Corp owned about 0.08% of Matthews International at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. US Bancorp DE increased its position in shares of Matthews International by 45.9% during the 3rd quarter. US Bancorp DE now owns 2,063 shares of the company’s stock valued at $50,000 after purchasing an additional 649 shares during the last quarter. Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Matthews International during the 3rd quarter valued at $59,000. Tower Research Capital LLC TRC increased its position in shares of Matthews International by 187.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,885 shares of the company’s stock valued at $69,000 after purchasing an additional 1,880 shares during the last quarter. BNP Paribas Financial Markets increased its position in shares of Matthews International by 51.6% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,080 shares of the company’s stock valued at $74,000 after purchasing an additional 1,048 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its position in shares of Matthews International by 25.0% during the 2nd quarter. Smartleaf Asset Management LLC now owns 3,445 shares of the company’s stock valued at $84,000 after purchasing an additional 689 shares during the last quarter. 83.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Weiss Ratings lowered Matthews International from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, May 6th. Wall Street Zen lowered Matthews International from a “buy” rating to a “hold” rating in a research report on Sunday, May 10th. Finally, Zacks Research upgraded Matthews International from a “strong sell” rating to a “hold” rating in a research note on Monday, April 6th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce”.

Matthews International Stock Down 2.5%

Shares of NASDAQ MATW opened at $25.44 on Thursday. The company has a market cap of $793.73 million, a P/E ratio of 82.06 and a beta of 1.08. The company has a quick ratio of 0.97, a current ratio of 1.64 and a debt-to-equity ratio of 1.12. The business has a 50-day simple moving average of $26.87 and a two-hundred day simple moving average of $26.36. Matthews International Corporation has a 52 week low of $20.74 and a 52 week high of $30.93.

Matthews International (NASDAQ:MATW) last issued its quarterly earnings results on Thursday, April 30th. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.20. The firm had revenue of $258.62 million during the quarter, compared to the consensus estimate of $253.65 million. Matthews International had a return on equity of 5.88% and a net margin of 0.80%. Research analysts anticipate that Matthews International Corporation will post 1.09 earnings per share for the current fiscal year.

Matthews International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, May 25th. Stockholders of record on Monday, May 11th were given a dividend of $0.255 per share. This represents a $1.02 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date was Monday, May 11th. Matthews International’s dividend payout ratio (DPR) is 329.03%.

About Matthews International

Matthews International Corporation (NASDAQ:MATW) is a diversified industrial company headquartered in Pittsburgh, Pennsylvania. The company operates through two primary business segments—Brand Solutions and Memorialization—offering a broad range of products and services designed to meet the needs of industrial manufacturers, brand marketers and the funeral industry worldwide.

In its Brand Solutions segment, Matthews International provides engraving and digital printing systems, automated finishing equipment, thermal management products and electronics assembly solutions.