Matthews International (NASDAQ:MATW) Downgraded by Zacks Investment Research to “Hold”


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Zacks Investment Research lowered shares of Matthews International (NASDAQ:MATW) from a buy rating to a hold rating in a report published on Wednesday morning, Zacks.com reports.

According to Zacks, “Matthews International Corporation is a designer, manufacturer and marketer principally of memorialization products & brand solutions. Memorialization products consist primarily of bronze memorials and other memorialization products, caskets and cremation equipment for the cemetery & funeral home industries. Brand solutions include graphics imaging products & services, marking products, & merchandising solutions. The Company’s products & services include cast bronze memorials & other memorialization products; caskets; cast & etched architectural products; cremation equipment & cremation- related products; mausoleums; brand management, printing plates, pre-press services, & imaging systems for the primary packaging & corrugated industries; marking equipment & consumables, & industrial automation products for identifying, tracking & conveying various consumer & industrial products, components & packaging containers; & merchandising display systems and marketing & design services. “

Shares of Matthews International stock opened at $40.72 on Wednesday. Matthews International has a fifty-two week low of $17.01 and a fifty-two week high of $42.51. The firm has a market cap of $1.29 billion, a PE ratio of -14.54 and a beta of 1.18. The business’s fifty day moving average is $38.64 and its two-hundred day moving average is $30.21. The company has a quick ratio of 1.26, a current ratio of 1.82 and a debt-to-equity ratio of 1.32.

Matthews International (NASDAQ:MATW) last released its quarterly earnings data on Thursday, January 28th. The company reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.25. The business had revenue of $386.70 million during the quarter, compared to the consensus estimate of $358.73 million. Matthews International had a positive return on equity of 14.90% and a negative net margin of 5.82%. The firm’s revenue was up 5.9% on a year-over-year basis. Equities research analysts anticipate that Matthews International will post 2.95 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 22nd. Stockholders of record on Monday, February 8th were issued a dividend of $0.215 per share. The ex-dividend date of this dividend was Friday, February 5th. This represents a $0.86 dividend on an annualized basis and a dividend yield of 2.11%. Matthews International’s payout ratio is 28.57%.

In other Matthews International news, EVP Brian J. Dunn sold 6,000 shares of the company’s stock in a transaction dated Monday, March 15th. The shares were sold at an average price of $41.36, for a total value of $248,160.00. Following the completion of the transaction, the executive vice president now directly owns 44,527 shares of the company’s stock, valued at approximately $1,841,636.72. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Steven F. Nicola sold 10,000 shares of the company’s stock in a transaction dated Friday, March 12th. The shares were sold at an average price of $41.74, for a total transaction of $417,400.00. Following the completion of the transaction, the chief financial officer now directly owns 131,722 shares of the company’s stock, valued at $5,498,076.28. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 21,000 shares of company stock valued at $870,660. Insiders own 3.40% of the company’s stock.

Several hedge funds have recently modified their holdings of MATW. Inspire Advisors LLC bought a new position in shares of Matthews International during the fourth quarter worth about $26,000. US Bancorp DE lifted its position in shares of Matthews International by 28.7% during the fourth quarter. US Bancorp DE now owns 1,382 shares of the company’s stock worth $40,000 after purchasing an additional 308 shares during the last quarter. Grant Street Asset Management Inc. bought a new position in shares of Matthews International during the fourth quarter worth about $51,000. Veriti Management LLC bought a new position in Matthews International in the fourth quarter worth about $68,000. Finally, Trexquant Investment LP bought a new position in Matthews International in the fourth quarter worth about $271,000. 80.00% of the stock is currently owned by institutional investors and hedge funds.

About Matthews International

Matthews International Corporation provides brand solutions, memorialization products, and industrial technologies worldwide. The company's SGK Brand Solutions segment offers brand management and pre-media services, printing plates and cylinders, engineered products, imaging services, digital asset management, merchandising display systems, and marketing and design services primarily for the consumer goods and retail industries.

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