Hsbc Holdings PLC Acquires Shares of 23,068 Matthews International Corporation $MATW

Hsbc Holdings PLC bought a new position in Matthews International Corporation (NASDAQ:MATW) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 23,068 shares of the company’s stock, valued at approximately $603,000. Hsbc Holdings PLC owned about 0.07% of Matthews International at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. US Bancorp DE grew its stake 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 worth $50,000 after acquiring an additional 649 shares during the period. Potomac Capital Management Inc. purchased a new stake in Matthews International in the 4th quarter worth about $59,000. Tripletail Wealth Management LLC raised its stake in Matthews International by 206.5% in the 4th quarter. Tripletail Wealth Management LLC now owns 2,820 shares of the company’s stock valued at $73,000 after acquiring an additional 1,900 shares during the period. Tower Research Capital LLC TRC raised its stake in Matthews International by 187.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,885 shares of the company’s stock valued at $69,000 after acquiring an additional 1,880 shares during the period. Finally, BNP Paribas Financial Markets lifted its holdings in Matthews International by 51.6% during the second 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. 83.08% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Matthews International Stock Up 1.0%

Shares of NASDAQ MATW opened at $26.72 on Thursday. Matthews International Corporation has a 12 month low of $21.95 and a 12 month high of $30.93. The company has a current ratio of 1.64, a quick ratio of 0.97 and a debt-to-equity ratio of 1.12. The firm has a market capitalization of $833.66 million, a price-to-earnings ratio of 86.19 and a beta of 1.08. The business has a 50-day moving average of $26.60 and a 200-day moving average of $26.53.

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

Matthews International Announces Dividend

The business also recently disclosed 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. The ex-dividend date was Monday, May 11th. This represents a $1.02 annualized dividend and a dividend yield of 3.8%. 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.