Matthews International (NASDAQ:MATW) Stock Price Up 8.2% – Still a Buy?

Matthews International Corporation (NASDAQ:MATW) rose 8.2% during trading on Tuesday . The company traded as high as $28.14 and last traded at $28.15. Approximately 128,282 shares changed hands during mid-day trading, a decline of 37% from the average daily volume of 203,747 shares. The stock had previously closed at $26.02.

Wall Street Analyst Weigh In

Several research firms recently weighed in on MATW. Zacks Research cut shares of Matthews International from a “hold” rating to a “strong sell” rating in a research report on Monday, January 19th. Weiss Ratings raised shares of Matthews International from a “sell (d)” rating to a “hold (c)” rating in a report on Friday, February 6th. One research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Reduce”.

Matthews International Stock Performance

The stock has a fifty day simple moving average of $26.62 and a two-hundred day simple moving average of $25.31. 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 stock has a market cap of $838.02 million, a price-to-earnings ratio of 37.92 and a beta of 1.16.

Matthews International (NASDAQ:MATW) last posted its quarterly earnings results on Wednesday, February 4th. The company reported ($0.19) 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. Analysts expect that Matthews International Corporation will post 1.73 EPS for the current fiscal year.

Matthews International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, February 23rd. Stockholders of record on Monday, February 9th were issued a $0.255 dividend. The ex-dividend date of this dividend was Monday, February 9th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 3.8%. Matthews International’s dividend payout ratio is 143.66%.

Hedge Funds Weigh In On Matthews International

Institutional investors have recently added to or reduced their stakes in the stock. US Bancorp DE lifted its stake in Matthews International by 45.9% in the 3rd quarter. US Bancorp DE now owns 2,063 shares of the company’s stock valued at $50,000 after purchasing an additional 649 shares during the last quarter. Potomac Capital Management Inc. bought a new stake in shares of Matthews International during the fourth quarter worth $59,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Matthews International during the third quarter worth $59,000. Tripletail Wealth Management LLC increased its holdings in shares of Matthews International by 206.5% during the fourth quarter. Tripletail Wealth Management LLC now owns 2,820 shares of the company’s stock worth $73,000 after buying an additional 1,900 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its stake in shares of 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 last quarter. 83.08% of the stock is currently owned by institutional investors and hedge funds.

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.