Matthews International (NASDAQ:MATW) Sees Strong Trading Volume – Still a Buy?

Matthews International Corporation (NASDAQ:MATW) saw strong trading volume on Friday . 331,063 shares traded hands during mid-day trading, an increase of 11% from the previous session’s volume of 296,920 shares.The stock last traded at $21.52 and had previously closed at $21.66.

Analysts Set New Price Targets

MATW has been the subject of several research analyst reports. Wall Street Zen lowered Matthews International from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Zacks Research downgraded Matthews International from a “hold” rating to a “strong sell” rating in a report on Monday, August 10th. Truist Financial initiated coverage on Matthews International in a research note on Friday. They set a “hold” rating and a $24.00 target price on the stock. Finally, Weiss Ratings cut Matthews International from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, August 17th. One analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Sell” and a consensus target price of $24.00.

Matthews International Stock Down 1.8%

The business’s 50 day moving average is $26.09 and its 200-day moving average is $26.30. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.76 and a quick ratio of 1.02. The company has a market cap of $663.84 million, a PE ratio of -22.87 and a beta of 1.09.

Matthews International (NASDAQ:MATW) last announced its quarterly earnings data on Friday, August 7th. The company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.35). The firm had revenue of $246.02 million during the quarter, compared to analysts’ expectations of $264.54 million. Matthews International had a negative net margin of 2.65% and a positive return on equity of 4.51%. As a group, analysts predict that Matthews International Corporation will post 0.53 EPS for the current year.

Matthews International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, August 10th will be issued a $0.255 dividend. This represents a $1.02 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend is Monday, August 10th. Matthews International’s dividend payout ratio is -109.68%.

Insiders Place Their Bets

In other Matthews International news, Director J Michael Nauman acquired 2,000 shares of the stock in a transaction dated Monday, August 10th. The stock was acquired at an average cost of $22.97 per share, with a total value of $45,940.00. Following the transaction, the director owned 7,081 shares in the company, valued at $162,650.57. The trade was a 39.36% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Aleta W. Richards acquired 3,000 shares of the company’s stock in a transaction dated Friday, August 14th. The stock was acquired at an average price of $23.06 per share, for a total transaction of $69,180.00. Following the acquisition, the director owned 12,535 shares in the company, valued at approximately $289,057.10. The trade was a 31.46% increase in their position. The SEC filing for this purchase provides additional information. 4.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Matthews International

Several institutional investors have recently added to or reduced their stakes in MATW. Dimensional Fund Advisors LP lifted its position in shares of Matthews International by 5.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,614,201 shares of the company’s stock worth $41,677,000 after buying an additional 83,860 shares during the last quarter. UBS Group AG grew its position in shares of Matthews International by 45.2% in the 4th quarter. UBS Group AG now owns 151,700 shares of the company’s stock valued at $3,962,000 after buying an additional 47,246 shares during the last quarter. Equitable Trust Co. grew its position in shares of 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 buying an additional 20,070 shares during the last quarter. Peapack Gladstone Financial Corp acquired a new stake in Matthews International during the 4th quarter worth $679,000. Finally, Forty three Eighteen Advisors LLC acquired a new stake in Matthews International during the 4th quarter worth $1,583,000. Hedge funds and other institutional investors own 83.08% of the company’s stock.

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.