Forty three Eighteen Advisors LLC Makes New Investment in Matthews International Corporation $MATW

Forty three Eighteen Advisors LLC bought a new position in shares of Matthews International Corporation (NASDAQ:MATW) during the fourth quarter, HoldingsChannel.com reports. The firm bought 60,604 shares of the company’s stock, valued at approximately $1,583,000. Matthews International accounts for approximately 1.2% of Forty three Eighteen Advisors LLC’s portfolio, making the stock its 27th biggest position.

Several other hedge funds also recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Matthews International by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,686 shares of the company’s stock valued at $393,000 after buying an additional 780 shares during the period. Jane Street Group LLC bought a new position in Matthews International during the 1st quarter worth $1,227,000. Intech Investment Management LLC increased its stake in Matthews International by 316.4% during the 1st quarter. Intech Investment Management LLC now owns 59,502 shares of the company’s stock worth $1,323,000 after acquiring an additional 45,212 shares during the period. American Century Companies Inc. raised its holdings in Matthews International by 7.9% in the 2nd quarter. American Century Companies Inc. now owns 64,988 shares of the company’s stock valued at $1,554,000 after acquiring an additional 4,742 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of Matthews International during the 2nd quarter valued at $1,406,000. 83.08% of the stock is owned by institutional investors.

Matthews International Stock Performance

Shares of MATW opened at $26.36 on Friday. Matthews International Corporation has a 52-week low of $20.74 and a 52-week high of $30.93. The business’s fifty day moving average is $26.98 and its 200-day moving average is $26.46. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.97 and a current ratio of 1.64. The firm has a market cap of $822.43 million, a price-to-earnings ratio of 85.03 and a beta of 1.08.

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

Matthews International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, May 25th. Shareholders of record on Monday, May 11th were given a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date was Monday, May 11th. Matthews International’s payout ratio is currently 329.03%.

Wall Street Analysts Forecast Growth

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

Matthews International Profile

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.