Matthews International (NASDAQ:MATW) Issues Quarterly Earnings Results

Matthews International (NASDAQ:MATW) announced its quarterly earnings results on Tuesday. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.24), Zacks reports. The business had revenue of $284.76 million for the quarter, compared to analyst estimates of $282.50 million. Matthews International had a return on equity of 6.19% and a net margin of 1.64%.

Matthews International Price Performance

NASDAQ:MATW opened at $26.46 on Thursday. The company has a market cap of $823.54 million, a P/E ratio of 37.26 and a beta of 1.19. Matthews International has a one year low of $18.50 and a one year high of $30.96. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.48 and a quick ratio of 0.91. The firm’s fifty day moving average price is $26.48 and its two-hundred day moving average price is $24.94.

Matthews International Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 23rd. Shareholders of record on Monday, February 9th will be issued a dividend of $0.255 per share. The ex-dividend date of this dividend is Monday, February 9th. This represents a $1.02 annualized dividend and a yield of 3.9%. Matthews International’s dividend payout ratio (DPR) is currently 143.66%.

Wall Street Analyst Weigh In

MATW has been the subject of several research reports. Zacks Research cut Matthews International from a “hold” rating to a “strong sell” rating in a research note on Monday, January 19th. Weiss Ratings reiterated a “sell (d)” rating on shares of Matthews International in a research report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average rating of “Sell”.

Institutional Investors Weigh In On Matthews International

A number of hedge funds have recently modified their holdings of MATW. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Matthews International by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,686 shares of the company’s stock worth $393,000 after purchasing an additional 780 shares during the period. Jane Street Group LLC purchased a new position in shares of Matthews International during the 1st quarter valued at $1,227,000. Intech Investment Management LLC raised its position in shares of Matthews International by 316.4% in the first quarter. Intech Investment Management LLC now owns 59,502 shares of the company’s stock worth $1,323,000 after buying an additional 45,212 shares in the last quarter. American Century Companies Inc. increased its stake in Matthews International by 7.9% in the 2nd quarter. American Century Companies Inc. now owns 64,988 shares of the company’s stock worth $1,554,000 after acquiring an additional 4,742 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new position in shares of Matthews International during the second quarter worth about $1,406,000. Institutional investors own 83.08% of the company’s stock.

About Matthews International

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.