Matthews International (NASDAQ:MATW) Hits New 12-Month Low – Here’s Why

Matthews International Co. (NASDAQ:MATW) shares reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $20.33 and last traded at $20.56, with a volume of 30664 shares traded. The stock had previously closed at $22.43.

Matthews International Stock Down 8.1 %

The firm’s 50-day moving average price is $24.91 and its 200-day moving average price is $25.71. The company has a debt-to-equity ratio of 1.94, a current ratio of 1.58 and a quick ratio of 0.96. The company has a market cap of $638.05 million, a price-to-earnings ratio of -10.49 and a beta of 1.09.

Matthews International (NASDAQ:MATW) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.12). Matthews International had a negative net margin of 3.48% and a positive return on equity of 12.88%. Sell-side analysts forecast that Matthews International Co. will post 1.73 earnings per share for the current fiscal year.

Matthews International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 24th. Investors of record on Monday, February 10th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.85%. The ex-dividend date of this dividend was Monday, February 10th. Matthews International’s dividend payout ratio (DPR) is presently -50.76%.

Institutional Trading of Matthews International

Several large investors have recently bought and sold shares of the company. Quadrant Capital Group LLC boosted its stake in shares of Matthews International by 551.8% in the fourth quarter. Quadrant Capital Group LLC now owns 906 shares of the company’s stock valued at $25,000 after purchasing an additional 767 shares during the period. Sterling Capital Management LLC boosted its position in Matthews International by 797.2% in the 4th quarter. Sterling Capital Management LLC now owns 951 shares of the company’s stock valued at $26,000 after buying an additional 845 shares during the last quarter. Smartleaf Asset Management LLC grew its stake in shares of Matthews International by 1,865.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 4,500 shares of the company’s stock valued at $125,000 after acquiring an additional 4,271 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of Matthews International by 7.7% during the third quarter. BNP Paribas Financial Markets now owns 6,602 shares of the company’s stock worth $153,000 after acquiring an additional 471 shares during the last quarter. Finally, AlphaQuest LLC acquired a new position in shares of Matthews International in the fourth quarter worth about $154,000. Institutional investors and hedge funds own 83.08% of the company’s stock.

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.