Matthews International Corporation (NASDAQ:MATW – Get Free Report)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $26.53 and traded as high as $27.57. Matthews International shares last traded at $26.61, with a volume of 357,136 shares.
Analyst Upgrades and Downgrades
Several equities analysts recently weighed in on MATW shares. Wall Street Zen downgraded shares of Matthews International from a “buy” rating to a “hold” rating in a report on Sunday, May 10th. Weiss Ratings downgraded shares of Matthews International from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, May 6th. Finally, Zacks Research upgraded shares of Matthews International from a “strong sell” rating to a “hold” rating in a research note on Monday, April 6th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Matthews International currently has an average rating of “Reduce”.
Check Out Our Latest Report on MATW
Matthews International Trading Down 1.0%
Matthews International (NASDAQ:MATW – Get Free Report) last posted its earnings results on Thursday, April 30th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.17 by $0.20. The firm had revenue of $258.62 million for the quarter, compared to analyst estimates of $253.65 million. Matthews International had a return on equity of 5.88% and a net margin of 0.80%. As a group, research analysts expect that Matthews International Corporation will post 1.09 EPS for the current year.
Matthews International Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Monday, May 25th. Shareholders of record on Monday, May 11th were given a $0.255 dividend. This represents a $1.02 annualized dividend and a yield of 3.8%. The ex-dividend date was Monday, May 11th. Matthews International’s dividend payout ratio is currently 329.03%.
Hedge Funds Weigh In On Matthews International
Institutional investors have recently made changes to their positions in the company. Steel Partners Holdings L.P. acquired a new position in shares of Matthews International in the 4th quarter valued at $20,084,000. Private Capital Management LLC grew its position in Matthews International by 201.1% during the fourth quarter. Private Capital Management LLC now owns 1,018,587 shares of the company’s stock valued at $26,605,000 after buying an additional 680,256 shares during the period. Simcoe Capital Management LLC purchased a new position in Matthews International in the fourth quarter valued at $8,763,000. Cannell Capital LLC acquired a new position in shares of Matthews International in the second quarter worth about $5,926,000. Finally, Focus Partners Wealth acquired a new position in shares of Matthews International in the fourth quarter worth about $5,242,000. 83.08% of the stock is owned by hedge funds and other institutional investors.
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.
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