Short Interest in Matthews International Corporation (NASDAQ:MATW) Increases By 32.8%

Matthews International Corporation (NASDAQ:MATW) saw a large growth in short interest during the month of December. As of December 15th, there was short interest totaling 2,792,325 shares, a growth of 32.8% from the November 30th total of 2,102,633 shares. Based on an average daily volume of 286,238 shares, the short-interest ratio is presently 9.8 days. Currently, 9.5% of the company’s shares are sold short. Currently, 9.5% of the company’s shares are sold short. Based on an average daily volume of 286,238 shares, the short-interest ratio is presently 9.8 days.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Matthews International in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has an average rating of “Sell”.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MATW. Private Capital Management LLC purchased a new stake in Matthews International during the third quarter worth approximately $8,215,000. Prelude Capital Management LLC lifted its holdings in shares of Matthews International by 86.6% during the 3rd quarter. Prelude Capital Management LLC now owns 93,643 shares of the company’s stock valued at $2,274,000 after acquiring an additional 43,461 shares in the last quarter. Millennium Management LLC acquired a new position in shares of Matthews International during the 3rd quarter valued at $871,000. Cannell Capital LLC boosted its position in Matthews International by 7.9% during the 3rd quarter. Cannell Capital LLC now owns 267,369 shares of the company’s stock worth $6,492,000 after purchasing an additional 19,542 shares during the period. Finally, Boothbay Fund Management LLC increased its holdings in Matthews International by 39.8% in the 3rd quarter. Boothbay Fund Management LLC now owns 56,361 shares of the company’s stock valued at $1,368,000 after purchasing an additional 16,059 shares in the last quarter. 83.08% of the stock is owned by institutional investors and hedge funds.

Matthews International Trading Down 1.3%

Shares of MATW stock traded down $0.35 during trading hours on Thursday, hitting $26.12. 126,999 shares of the company were exchanged, compared to its average volume of 281,448. The firm has a fifty day moving average of $24.99 and a 200 day moving average of $24.39. The company has a quick ratio of 0.91, a current ratio of 1.48 and a debt-to-equity ratio of 1.46. Matthews International has a 1 year low of $18.50 and a 1 year high of $32.00. The firm has a market cap of $804.50 million, a PE ratio of -33.06 and a beta of 1.20.

Matthews International (NASDAQ:MATW) last released its earnings results on Friday, November 21st. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.22 by $0.28. Matthews International had a negative net margin of 1.63% and a positive return on equity of 8.65%. The firm had revenue of $318.84 million during the quarter, compared to the consensus estimate of $290.79 million. Analysts expect that Matthews International will post 1.73 earnings per share for the current year.

Matthews International Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were given a dividend of $0.255 per share. This is a boost from Matthews International’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Monday, December 1st. This represents a $1.02 dividend on an annualized basis and a yield of 3.9%. Matthews International’s dividend payout ratio is currently -129.11%.

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.