Matthews International (NASDAQ:MATW) Sets New 1-Year Low – Should You Sell?

Matthews International Corporation (NASDAQ:MATW) shares hit a new 52-week low on Monday . The stock traded as low as $20.69 and last traded at $20.6910, with a volume of 27264 shares trading hands. The stock had previously closed at $20.93.

Wall Street Analyst Weigh In

MATW has been the subject of a number of research analyst reports. Weiss Ratings cut Matthews International from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, August 17th. Zacks Research lowered Matthews International from a “hold” rating to a “strong sell” rating in a research note on Monday, August 10th. Wall Street Zen lowered Matthews International from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Finally, Truist Financial assumed coverage on Matthews International in a report on Friday, August 21st. They set a “hold” rating and a $24.00 price target for the company. One investment analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Sell” and an average target price of $24.00.

Matthews International Stock Performance

The company has a quick ratio of 1.02, a current ratio of 1.76 and a debt-to-equity ratio of 1.15. The stock has a market cap of $635.75 million, a price-to-earnings ratio of -21.90 and a beta of 1.05. The company has a 50 day simple moving average of $25.38 and a 200 day simple moving average of $26.03.

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

Matthews International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 24th. Shareholders of record on Monday, August 10th were given a $0.255 dividend. This represents a $1.02 annualized dividend and a yield of 5.0%. The ex-dividend date was Monday, August 10th. Matthews International’s dividend payout ratio is -109.68%.

Insiders Place Their Bets

In related news, Director J Michael Nauman purchased 1,900 shares of the firm’s stock in a transaction dated Thursday, August 20th. The stock was bought at an average price of $21.96 per share, with a total value of $41,724.00. Following the completion of the purchase, the director owned 9,081 shares in the company, valued at approximately $199,418.76. This represents a 26.46% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Aleta W. Richards bought 3,000 shares of the firm’s stock in a transaction on Friday, August 14th. The shares were purchased at an average cost of $23.06 per share, with a total value of $69,180.00. Following the transaction, the director directly owned 12,535 shares in the company, valued at approximately $289,057.10. This trade represents a 31.46% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders purchased 7,900 shares of company stock valued at $177,924 over the last 90 days. 4.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Matthews International

A number of institutional investors and hedge funds have recently made changes to their positions in MATW. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Matthews International by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,686 shares of the company’s stock valued at $393,000 after buying an additional 780 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Matthews International during the first quarter worth about $1,227,000. Intech Investment Management LLC raised its holdings in shares of Matthews International by 316.4% in the 1st quarter. Intech Investment Management LLC now owns 59,502 shares of the company’s stock worth $1,323,000 after acquiring an additional 45,212 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of 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 bought a new position in Matthews International in the 2nd quarter valued at about $1,406,000. 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.