Matthews International (NASDAQ:MATW) Stock Price Up 8.2% – Time to Buy?

Matthews International Corporation (NASDAQ:MATW) rose 8.2% during trading on Tuesday . The stock traded as high as $28.14 and last traded at $28.15. Approximately 128,282 shares were traded during trading, a decline of 37% from the average daily volume of 203,747 shares. The stock had previously closed at $26.02.

Analyst Ratings Changes

A number of equities analysts recently issued reports on MATW shares. Weiss Ratings upgraded Matthews International from a “sell (d)” rating to a “hold (c)” rating in a report on Friday, February 6th. Zacks Research lowered shares of Matthews International from a “hold” rating to a “strong sell” rating in a research note on Monday, January 19th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce”.

Matthews International Price Performance

The stock has a market capitalization of $805.33 million, a P/E ratio of 36.44 and a beta of 1.16. The business has a fifty day simple moving average of $26.61 and a 200 day simple moving average of $25.32. The company has a current ratio of 1.51, a quick ratio of 0.91 and a debt-to-equity ratio of 0.98.

Matthews International (NASDAQ:MATW) last announced its earnings results on Wednesday, February 4th. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.24). Matthews International had a net margin of 1.64% and a return on equity of 5.95%. The company had revenue of $284.76 million for the quarter, compared to analysts’ expectations of $282.50 million. On average, analysts expect that Matthews International Corporation will post 1.73 earnings per share for the current year.

Matthews International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 23rd. Shareholders of record on Monday, February 9th were issued a dividend of $0.255 per share. This represents a $1.02 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend was Monday, February 9th. Matthews International’s payout ratio is currently 143.66%.

Institutional Trading of Matthews International

Institutional investors have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position 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 purchasing an additional 780 shares in the last quarter. Jane Street Group LLC bought a new stake in Matthews International in the 1st quarter worth about $1,227,000. Intech Investment Management LLC increased its stake in Matthews International by 316.4% in the 1st quarter. Intech Investment Management LLC now owns 59,502 shares of the company’s stock valued at $1,323,000 after buying an additional 45,212 shares during the last quarter. Simplex Trading LLC increased its stake in Matthews International by 613.7% in the 2nd quarter. Simplex Trading LLC now owns 9,236 shares of the company’s stock valued at $220,000 after buying an additional 11,034 shares during the last quarter. Finally, Allworth Financial LP lifted its position in shares of Matthews International by 4,173.1% during the 2nd quarter. Allworth Financial LP now owns 4,615 shares of the company’s stock worth $110,000 after buying an additional 4,507 shares in the last quarter. 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.