Shares of Matthews International Corp (NASDAQ:MATW) hit a new 52-week low during trading on Friday . The company traded as low as $42.54 and last traded at $42.85, with a volume of 118553 shares changing hands. The stock had previously closed at $42.99.
A number of analysts have commented on MATW shares. BidaskClub raised shares of Matthews International from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, June 26th. Zacks Investment Research cut shares of Matthews International from a “buy” rating to a “hold” rating in a research report on Thursday, June 28th. ValuEngine raised shares of Matthews International from a “sell” rating to a “hold” rating in a research report on Monday, July 16th. Finally, TheStreet cut shares of Matthews International from a “b” rating to a “c+” rating in a research report on Monday, August 20th. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $70.00.
The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.45 and a current ratio of 2.05. The stock has a market cap of $1.42 billion, a P/E ratio of 11.96 and a beta of 1.05.
Matthews International (NASDAQ:MATW) last issued its quarterly earnings results on Thursday, July 26th. The company reported $1.16 EPS for the quarter, beating the Zacks’ consensus estimate of $1.14 by $0.02. Matthews International had a net margin of 6.12% and a return on equity of 14.70%. The business had revenue of $411.62 million for the quarter, compared to analysts’ expectations of $421.59 million. During the same quarter in the prior year, the firm posted $1.05 earnings per share. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. Equities analysts predict that Matthews International Corp will post 3.9 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently made changes to their positions in MATW. Wells Fargo & Company MN raised its holdings in shares of Matthews International by 4.8% during the first quarter. Wells Fargo & Company MN now owns 103,472 shares of the company’s stock valued at $5,236,000 after purchasing an additional 4,707 shares during the period. Northern Trust Corp raised its holdings in shares of Matthews International by 1.7% in the 1st quarter. Northern Trust Corp now owns 418,609 shares of the company’s stock worth $21,182,000 after acquiring an additional 7,033 shares during the last quarter. A.R.T. Advisors LLC raised its holdings in shares of Matthews International by 48.7% in the 1st quarter. A.R.T. Advisors LLC now owns 13,381 shares of the company’s stock worth $677,000 after acquiring an additional 4,380 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Matthews International by 6.9% in the 1st quarter. Legal & General Group Plc now owns 67,962 shares of the company’s stock worth $3,436,000 after acquiring an additional 4,387 shares during the last quarter. Finally, Royal Bank of Canada raised its holdings in shares of Matthews International by 29.9% in the 1st quarter. Royal Bank of Canada now owns 330,369 shares of the company’s stock worth $16,716,000 after acquiring an additional 76,021 shares during the last quarter. Hedge funds and other institutional investors own 81.53% of the company’s stock.
About Matthews International (NASDAQ:MATW)
Matthews International Corporation provides brand solutions, memorialization products, and industrial products in the United States, Central and South America, Canada, Europe, Australia, and Asia. It operates through three segments: SGK Brand Solutions, Memorialization, and Industrial Technologies. The SGK Brand Solutions segment provides brand development, deployment, delivery, brand management, 3-D graphics renderings, pre-media graphics services, printing plates, gravure cylinders, steel bases, embossing tools, special purpose machinery, engineering assistance, print process assistance, print production management, digital asset management, content management, and package design services to brand owners and packaging manufacturers; and creative digital graphics services, as well as designs, engineers, manufactures, and executes merchandising and display systems.
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