Skylands Capital LLC Purchases 13,950 Shares of Matthews International Co. (NASDAQ:MATW)

Skylands Capital LLC boosted its position in Matthews International Co. (NASDAQ:MATW) by 620.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 16,200 shares of the company’s stock after buying an additional 13,950 shares during the quarter. Skylands Capital LLC owned approximately 0.05% of Matthews International worth $594,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of MATW. Allspring Global Investments Holdings LLC raised its holdings in shares of Matthews International by 53.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 470,016 shares of the company’s stock valued at $17,226,000 after purchasing an additional 163,984 shares during the last quarter. Campbell Capital Management Inc. acquired a new stake in Matthews International in the 4th quarter valued at $4,236,000. Jupiter Asset Management Ltd. bought a new stake in Matthews International during the 3rd quarter worth about $3,882,000. Great Lakes Advisors LLC acquired a new position in shares of Matthews International during the 3rd quarter worth about $2,530,000. Finally, Illinois Municipal Retirement Fund bought a new position in shares of Matthews International in the 3rd quarter valued at about $703,000. Institutional investors own 83.08% of the company’s stock.

Matthews International Trading Down 1.2 %

Shares of NASDAQ:MATW opened at $27.23 on Tuesday. Matthews International Co. has a 12-month low of $25.42 and a 12-month high of $48.86. The business has a 50 day moving average of $28.42 and a 200-day moving average of $32.57. The company has a quick ratio of 1.15, a current ratio of 1.88 and a debt-to-equity ratio of 1.69. The stock has a market cap of $835.42 million, a PE ratio of 26.00 and a beta of 1.12.

Matthews International (NASDAQ:MATW) last released its quarterly earnings results on Thursday, February 1st. The company reported $0.37 EPS for the quarter, meeting the consensus estimate of $0.37. Matthews International had a net margin of 1.77% and a return on equity of 16.44%. The business had revenue of $449.99 million for the quarter, compared to the consensus estimate of $437.77 million. As a group, equities research analysts forecast that Matthews International Co. will post 2.6 earnings per share for the current year.

Matthews International Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Monday, May 6th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 3.53%. The ex-dividend date is Friday, May 3rd. Matthews International’s dividend payout ratio is currently 90.57%.

Wall Street Analysts Forecast Growth

MATW has been the topic of several analyst reports. B. Riley dropped their target price on Matthews International from $61.00 to $59.00 and set a “buy” rating on the stock in a report on Monday, February 5th. StockNews.com cut Matthews International from a “buy” rating to a “hold” rating in a research note on Friday, February 9th.

About Matthews International

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.