Skylands Capital LLC Sells 10,000 Shares of Matthews International Co. (NASDAQ:MATW)

Skylands Capital LLC trimmed its stake in Matthews International Co. (NASDAQ:MATW) by 89.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,200 shares of the company’s stock after selling 10,000 shares during the period. Skylands Capital LLC’s holdings in Matthews International were worth $30,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Panagora Asset Management Inc. purchased a new position in shares of Matthews International during the 4th quarter worth approximately $1,048,000. Allspring Global Investments Holdings LLC increased its stake in shares of Matthews International by 25.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 587,477 shares of the company’s stock worth $18,259,000 after acquiring an additional 117,461 shares in the last quarter. ProShare Advisors LLC increased its stake in shares of Matthews International by 20.2% during the first quarter. ProShare Advisors LLC now owns 266,146 shares of the company’s stock valued at $8,272,000 after purchasing an additional 44,798 shares in the last quarter. Norges Bank purchased a new stake in shares of Matthews International in the 4th quarter worth approximately $7,200,000. Finally, Price T Rowe Associates Inc. MD increased its position in Matthews International by 1.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 68,771 shares of the company’s stock valued at $2,138,000 after buying an additional 1,063 shares in the last quarter. Hedge funds and other institutional investors own 83.08% of the company’s stock.

Matthews International Stock Down 0.5 %

Matthews International stock traded down $0.13 during mid-day trading on Tuesday, hitting $25.57. The company had a trading volume of 36,056 shares, compared to its average volume of 155,542. Matthews International Co. has a 12 month low of $23.30 and a 12 month high of $44.14. The company has a market capitalization of $785.25 million, a PE ratio of 24.25 and a beta of 1.11. The stock’s 50 day moving average price is $25.79 and its two-hundred day moving average price is $27.40. The company has a current ratio of 1.82, a quick ratio of 1.12 and a debt-to-equity ratio of 1.64.

Matthews International (NASDAQ:MATW) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $0.58 by ($0.02). The firm had revenue of $427.83 million for the quarter, compared to the consensus estimate of $450.03 million. Matthews International had a net margin of 1.43% and a return on equity of 15.70%. During the same quarter in the prior year, the business posted $0.74 earnings per share. As a group, sell-side analysts anticipate that Matthews International Co. will post 2.53 earnings per share for the current fiscal year.

Matthews International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Monday, August 5th were paid a $0.24 dividend. The ex-dividend date of this dividend was Monday, August 5th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.75%. Matthews International’s dividend payout ratio is presently 90.57%.

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.