Gabelli Funds LLC grew its holdings in shares of Matthews International Corp (NASDAQ:MATW) by 33.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 71,521 shares of the company’s stock after acquiring an additional 17,800 shares during the quarter. Gabelli Funds LLC’s holdings in Matthews International were worth $2,643,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of MATW. BlackRock Inc. raised its holdings in shares of Matthews International by 2.7% during the 4th quarter. BlackRock Inc. now owns 4,688,448 shares of the company’s stock valued at $190,444,000 after buying an additional 123,890 shares in the last quarter. Vanguard Group Inc. increased its stake in Matthews International by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 3,356,290 shares of the company’s stock worth $168,318,000 after purchasing an additional 52,096 shares during the period. Dimensional Fund Advisors LP increased its stake in Matthews International by 8.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,737,395 shares of the company’s stock worth $70,573,000 after purchasing an additional 141,901 shares during the period. Clarkston Capital Partners LLC increased its stake in Matthews International by 4.0% in the 4th quarter. Clarkston Capital Partners LLC now owns 1,497,956 shares of the company’s stock worth $60,847,000 after purchasing an additional 57,885 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in Matthews International by 2.0% in the 4th quarter. Bank of New York Mellon Corp now owns 505,383 shares of the company’s stock worth $20,528,000 after purchasing an additional 10,096 shares during the period. Hedge funds and other institutional investors own 84.99% of the company’s stock.

NASDAQ MATW opened at $35.92 on Thursday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 1.40 and a current ratio of 2.01. Matthews International Corp has a twelve month low of $34.53 and a twelve month high of $61.25. The company has a market cap of $1.13 billion, a P/E ratio of 9.07 and a beta of 1.11.

Matthews International (NASDAQ:MATW) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.90 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.95 by ($0.05). Matthews International had a net margin of 4.58% and a return on equity of 14.25%. The firm had revenue of $391.40 million for the quarter, compared to the consensus estimate of $408.09 million. During the same quarter in the prior year, the firm earned $0.93 earnings per share. The company’s revenue for the quarter was down 5.5% compared to the same quarter last year. Research analysts predict that Matthews International Corp will post 3.6 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Monday, May 6th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $0.80 annualized dividend and a dividend yield of 2.23%. Matthews International’s dividend payout ratio is presently 20.20%.

A number of equities research analysts have recently weighed in on the company. Zacks Investment Research lowered Matthews International from a “hold” rating to a “sell” rating in a research report on Saturday, April 20th. BidaskClub upgraded Matthews International from a “sell” rating to a “hold” rating in a research report on Tuesday, April 30th. Finally, Wellington Shields lowered Matthews International from a “buy” rating to a “hold” rating in a research report on Friday, February 1st. Three analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $66.00.

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Matthews International Profile

Matthews International Corporation provides brand solutions, memorialization products, and industrial products worldwide. The company's SGK Brand Solutions segment provides brand development and graphic design services, such as visual intellectual properties, packaging, and content creation; brand deployment and activation services, including design and production of merchandising exhibits and shopper experiences in digital and printed media channels; and consulting services to brand owners on workflow best practices, management and technologies, printing quality, measurement, and consistency.

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Institutional Ownership by Quarter for Matthews International (NASDAQ:MATW)

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