Matthews International (NASDAQ:MATW) Hits New 1-Year Low – What’s Next?

Matthews International Corporation (NASDAQ:MATW)’s share price reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $21.75 and last traded at $21.6550, with a volume of 18035 shares traded. The stock had previously closed at $22.32.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Wall Street Zen lowered shares of Matthews International from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Weiss Ratings downgraded shares of Matthews International from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday. Finally, Zacks Research lowered shares of Matthews International from a “hold” rating to a “strong sell” rating in a report on Monday, August 10th. Two investment analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Sell”.

Matthews International Stock Performance

The firm has a market capitalization of $676.60 million, a P/E ratio of -23.31 and a beta of 1.09. The stock has a fifty day simple moving average of $26.29 and a two-hundred day simple moving average of $26.37. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.76 and a quick ratio of 1.02.

Matthews International (NASDAQ:MATW) last posted its quarterly earnings results on Friday, August 7th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.35). The business had revenue of $246.02 million for the quarter, compared to the consensus estimate of $264.54 million. Matthews International had a positive return on equity of 4.51% and a negative net margin of 2.65%. On average, research analysts predict that Matthews International Corporation will post 0.53 EPS for the current year.

Matthews International Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, August 10th will be given a dividend of $0.255 per share. This represents a $1.02 dividend on an annualized basis and a dividend yield of 4.7%. The ex-dividend date is Monday, August 10th. Matthews International’s payout ratio is presently -109.68%.

Insider Buying and Selling at Matthews International

In related news, Director Aleta W. Richards purchased 3,000 shares of Matthews International stock in a transaction on Friday, August 14th. The stock was acquired at an average cost of $23.06 per share, for a total transaction of $69,180.00. Following the completion of the acquisition, the director owned 12,535 shares of the company’s stock, valued at $289,057.10. This trade represents a 31.46% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director J Michael Nauman purchased 2,000 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was bought at an average cost of $22.97 per share, with a total value of $45,940.00. Following the completion of the purchase, the director owned 7,081 shares of the company’s stock, valued at approximately $162,650.57. This represents a 39.36% increase in their position. The disclosure for this purchase is available in the SEC filing. 4.70% of the stock is owned by corporate insiders.

Institutional Trading of Matthews International

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its stake in Matthews International by 5.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,614,201 shares of the company’s stock valued at $41,677,000 after acquiring an additional 83,860 shares during the period. UBS Group AG raised its position in shares of Matthews International by 45.2% during the fourth quarter. UBS Group AG now owns 151,700 shares of the company’s stock worth $3,962,000 after purchasing an additional 47,246 shares during the period. Peapack Gladstone Financial Corp bought a new position in shares of Matthews International in the 4th quarter worth $679,000. Forty three Eighteen Advisors LLC bought a new position in shares of Matthews International in the 4th quarter worth $1,583,000. Finally, Equitable Trust Co. grew its position in Matthews International by 223.6% in the 4th quarter. Equitable Trust Co. now owns 29,045 shares of the company’s stock valued at $759,000 after purchasing an additional 20,070 shares during the period. 83.08% of the stock is 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.