Matthews International (NASDAQ:MATW) Stock Price Passes Above Two Hundred Day Moving Average – Here’s Why

Matthews International Corporation (NASDAQ:MATW) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $25.00 and traded as high as $26.67. Matthews International shares last traded at $26.25, with a volume of 173,047 shares.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on MATW shares. Weiss Ratings upgraded Matthews International from a “sell (d)” rating to a “hold (c)” rating in a research note on Friday, February 6th. Zacks Research downgraded shares of Matthews International from a “hold” rating to a “strong sell” rating in a report on Monday, January 19th. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Matthews International presently has an average rating of “Reduce”.

Matthews International Price Performance

The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.91 and a current ratio of 1.51. The firm has a market capitalization of $817.16 million, a P/E ratio of 36.97 and a beta of 1.19. The business has a fifty day moving average of $26.68 and a 200-day moving average of $25.00.

Matthews International (NASDAQ:MATW) last announced its quarterly earnings results on Tuesday, February 3rd. The company reported ($0.19) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.24). Matthews International had a return on equity of 5.95% and a net margin of 1.64%.The business had revenue of $284.76 million for the quarter, compared to analyst estimates of $282.50 million. On average, sell-side analysts forecast that Matthews International Corporation will post 1.73 EPS for the current fiscal year.

Matthews International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 23rd. Investors of record on Monday, February 9th will be 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 is Monday, February 9th. Matthews International’s dividend payout ratio is currently 143.66%.

Institutional Trading of Matthews International

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. US Bancorp DE lifted its stake in shares of Matthews International by 45.9% in 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. bought a new stake in Matthews International during the fourth quarter worth approximately $59,000. Wealth Enhancement Advisory Services LLC bought a new stake in Matthews International during the third quarter worth approximately $59,000. Tower Research Capital LLC TRC lifted its position in Matthews International by 187.1% in the second quarter. Tower Research Capital LLC TRC now owns 2,885 shares of the company’s stock worth $69,000 after purchasing an additional 1,880 shares during the period. Finally, BNP Paribas Financial Markets lifted its position in Matthews International by 51.6% in the second quarter. BNP Paribas Financial Markets now owns 3,080 shares of the company’s stock worth $74,000 after purchasing an additional 1,048 shares during the period. 83.08% of the stock is currently owned by institutional investors.

Matthews International Company 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.