Matthews International (NASDAQ:MATW) Sees Unusually-High Trading Volume – Still a Buy?

Matthews International Co. (NASDAQ:MATW) shares saw unusually-high trading volume on Wednesday . Approximately 235,647 shares were traded during trading, an increase of 34% from the previous session’s volume of 175,304 shares.The stock last traded at $26.61 and had previously closed at $27.11.

Matthews International Trading Down 2.8 %

The company has a market cap of $815.85 million, a P/E ratio of -13.65 and a beta of 1.14. The business has a 50 day moving average price of $29.26 and a 200-day moving average price of $26.15. The company has a current ratio of 1.45, a quick ratio of 0.91 and a debt-to-equity ratio of 1.76.

Matthews International (NASDAQ:MATW) last announced its quarterly earnings data on Thursday, November 21st. The company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.14. Matthews International had a positive return on equity of 13.69% and a negative net margin of 3.32%. During the same period in the previous year, the firm posted $0.96 earnings per share. Analysts forecast that Matthews International Co. will post 2 earnings per share for the current fiscal year.

Matthews International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 24th. Investors of record on Monday, February 10th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.80%. The ex-dividend date of this dividend is Monday, February 10th. Matthews International’s dividend payout ratio (DPR) is presently -51.81%.

Institutional Trading of Matthews International

Hedge funds have recently made changes to their positions in the company. State Street Corp raised its stake in Matthews International by 6.8% during the third quarter. State Street Corp now owns 1,208,505 shares of the company’s stock worth $28,037,000 after buying an additional 76,911 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Matthews International by 10.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 781,592 shares of the company’s stock worth $21,126,000 after purchasing an additional 73,240 shares during the period. Geode Capital Management LLC raised its holdings in shares of Matthews International by 0.9% during the third quarter. Geode Capital Management LLC now owns 729,539 shares of the company’s stock valued at $16,929,000 after purchasing an additional 6,536 shares during the period. Barington Capital Group L.P. grew its stake in Matthews International by 18.2% in the third quarter. Barington Capital Group L.P. now owns 455,000 shares of the company’s stock valued at $10,556,000 after acquiring an additional 70,000 shares during the period. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Matthews International by 10.0% in the 4th quarter. Bank of New York Mellon Corp now owns 375,855 shares of the company’s stock worth $10,404,000 after purchasing an additional 34,064 shares in the last quarter. 83.08% of the stock is owned by institutional investors and hedge funds.

Matthews International Company Profile

Matthews International Corporation provides brand solutions, memorialization products, and industrial technologies worldwide. It operates through three segments: Memorialization, Industrial Technologies, and SGK Brand Solutions. The Memorialization segment provides bronze and granite memorials, upright granite memorials and monuments, concrete burial vaults, cremation memorialization products, granite benches, flower vases, crypt plates and letters, cremation urns, niche units, cemetery features, and statues, as well as bronze plaques, letters, emblems, vases, lights and photo ceramics, granite monuments, mausoleums, crypts, and flush memorials.