Matthews International Corp (NASDAQ:MATW) reached a new 52-week low on Thursday . The stock traded as low as $39.05 and last traded at $40.33, with a volume of 6071 shares traded. The stock had previously closed at $40.00.
Several research firms have weighed in on MATW. BidaskClub lowered shares of Matthews International from a “sell” rating to a “strong sell” rating in a report on Thursday, September 13th. ValuEngine upgraded shares of Matthews International from a “strong sell” rating to a “sell” rating in a report on Friday, September 7th. Zacks Investment Research lowered shares of Matthews International from a “hold” rating to a “sell” rating in a report on Wednesday, November 21st. TheStreet lowered shares of Matthews International from a “b” rating to a “c+” rating in a report on Monday, August 20th. Finally, Buckingham Research began coverage on shares of Matthews International in a report on Tuesday, October 2nd. They issued a “buy” rating and a $61.00 target price on the stock. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $66.00.
The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.43 and a current ratio of 2.03. The stock has a market capitalization of $1.31 billion, a PE ratio of 10.37 and a beta of 1.18.
Matthews International (NASDAQ:MATW) last issued its quarterly earnings data on Thursday, November 15th. The company reported $1.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.21 by $0.02. Matthews International had a net margin of 6.70% and a return on equity of 14.94%. The company had revenue of $407.44 million during the quarter, compared to the consensus estimate of $398.03 million. On average, equities analysts anticipate that Matthews International Corp will post 4.13 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Monday, November 26th will be given a dividend of $0.20 per share. This is an increase from Matthews International’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend is Friday, November 23rd. This represents a $0.80 annualized dividend and a dividend yield of 1.95%. Matthews International’s dividend payout ratio is currently 20.20%.
In related news, insider David A. Schawk acquired 1,000 shares of the stock in a transaction dated Tuesday, November 20th. The stock was bought at an average price of $40.93 per share, with a total value of $40,930.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 3.80% of the stock is owned by corporate insiders.
Several hedge funds have recently modified their holdings of MATW. BlackRock Inc. increased its position in shares of Matthews International by 6.7% during the second quarter. BlackRock Inc. now owns 4,414,034 shares of the company’s stock worth $259,544,000 after acquiring an additional 279,068 shares in the last quarter. Rutabaga Capital Management LLC MA increased its position in shares of Matthews International by 124.0% during the third quarter. Rutabaga Capital Management LLC MA now owns 308,921 shares of the company’s stock worth $15,492,000 after acquiring an additional 170,992 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Matthews International by 9.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,471,178 shares of the company’s stock worth $86,506,000 after acquiring an additional 130,974 shares in the last quarter. Nordea Investment Management AB increased its position in shares of Matthews International by 58.5% during the third quarter. Nordea Investment Management AB now owns 318,175 shares of the company’s stock worth $15,957,000 after acquiring an additional 117,453 shares in the last quarter. Finally, Morgan Stanley increased its position in shares of Matthews International by 52.8% during the third quarter. Morgan Stanley now owns 190,210 shares of the company’s stock worth $9,539,000 after acquiring an additional 65,744 shares in the last quarter. 82.46% of the stock is owned by institutional investors.
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Matthews International Company Profile (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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