Matthews International Co. (NASDAQ:MATW) Increases Dividend to $0.22 Per Share

Matthews International Co. (NASDAQ:MATW) declared a quarterly dividend on Wednesday, November 17th, Zacks reports. Investors of record on Monday, November 29th will be paid a dividend of 0.22 per share on Monday, December 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date is Friday, November 26th. This is a positive change from Matthews International’s previous quarterly dividend of $0.22.

Matthews International has raised its dividend payment by 20.7% over the last three years and has increased its dividend annually for the last 26 consecutive years. Matthews International has a payout ratio of 28.6% meaning its dividend is sufficiently covered by earnings.

Shares of NASDAQ MATW opened at $37.93 on Thursday. Matthews International has a one year low of $26.52 and a one year high of $43.75. The company has a 50-day moving average price of $35.79. The stock has a market capitalization of $1.20 billion, a P/E ratio of 474.18 and a beta of 1.17. The company has a quick ratio of 1.23, a current ratio of 1.76 and a debt-to-equity ratio of 1.19.

Matthews International (NASDAQ:MATW) last announced its quarterly earnings results on Thursday, November 18th. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.05. Matthews International had a return on equity of 16.76% and a net margin of 0.17%. During the same period in the previous year, the company earned $1.11 earnings per share. On average, equities research analysts forecast that Matthews International will post 3.26 EPS for the current fiscal year.

MATW has been the subject of several research analyst reports. Zacks Investment Research cut Matthews International from a “hold” rating to a “sell” rating in a research report on Thursday. Sidoti initiated coverage on Matthews International in a research report on Tuesday, August 31st. They set a “buy” rating and a $60.00 price objective for the company.

A number of institutional investors have recently bought and sold shares of MATW. Morgan Stanley raised its holdings in Matthews International by 8.5% in the 2nd quarter. Morgan Stanley now owns 232,125 shares of the company’s stock valued at $8,347,000 after acquiring an additional 18,143 shares in the last quarter. Royal Bank of Canada raised its holdings in Matthews International by 258.3% in the 3rd quarter. Royal Bank of Canada now owns 15,634 shares of the company’s stock valued at $542,000 after acquiring an additional 11,271 shares in the last quarter. Millennium Management LLC raised its holdings in Matthews International by 49.0% in the 3rd quarter. Millennium Management LLC now owns 28,386 shares of the company’s stock valued at $985,000 after acquiring an additional 9,339 shares in the last quarter. Citadel Advisors LLC raised its holdings in Matthews International by 21.2% in the 2nd quarter. Citadel Advisors LLC now owns 17,353 shares of the company’s stock valued at $624,000 after acquiring an additional 3,041 shares in the last quarter. Finally, UBS Group AG raised its holdings in Matthews International by 66.6% in the 3rd quarter. UBS Group AG now owns 5,807 shares of the company’s stock valued at $201,000 after acquiring an additional 2,321 shares in the last quarter. 80.23% of the stock is owned by hedge funds and other institutional investors.

Matthews International Company Profile

Matthews International Corp. engages in the provision of brand solutions, memorialization products, and industrial technologies. It operates through the following segments: SGK Brand Solutions, Memorialization, and Industrial Technologies. The SGK Brand Solutions segment consists of brand management, pre-media services, printing plates and cylinders, engineered products, imaging services, digital asset management, merchandising display systems, and marketing and design services for consumer goods and retail industries.

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Dividend History for Matthews International (NASDAQ:MATW)

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