Shares of Matthews International Corporation (NASDAQ:MATW – Get Free Report) saw strong trading volume on Monday . Approximately 492,958 shares traded hands during mid-day trading, an increase of 89% from the previous session’s volume of 260,550 shares.The stock last traded at $22.6580 and had previously closed at $23.70.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently commented on MATW shares. Wall Street Zen lowered Matthews International from a “hold” rating to a “sell” rating in a research report on Saturday. Zacks Research lowered Matthews International from a “hold” rating to a “strong sell” rating in a research report on Monday. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Matthews International in a research note on Monday, August 3rd. Two equities research analysts have rated the stock with a Sell rating, According to MarketBeat, the stock currently has an average rating of “Sell”.
View Our Latest Stock Report on Matthews International
Matthews International Stock Up 2.3%
Matthews International (NASDAQ:MATW – Get Free Report) last released its earnings results on Friday, August 7th. The company reported $0.06 earnings per share (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 firm had revenue of $246.02 million for the quarter, compared to the consensus estimate of $264.54 million. As a group, equities research analysts predict that Matthews International Corporation will post 0.53 EPS for the current fiscal year.
Matthews International Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, August 10th will be given a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a dividend yield of 4.3%. The ex-dividend date of this dividend is Monday, August 10th. Matthews International’s dividend payout ratio is currently -109.68%.
Institutional Investors Weigh In On Matthews International
A number of hedge funds and other institutional investors have recently bought and sold shares of MATW. US Bancorp DE boosted its position in Matthews International by 45.9% during the 3rd quarter. US Bancorp DE now owns 2,063 shares of the company’s stock worth $50,000 after acquiring an additional 649 shares during the last quarter. Potomac Capital Management Inc. acquired a new position in Matthews International during the fourth quarter worth $59,000. Tower Research Capital LLC TRC increased its stake in Matthews International by 187.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,885 shares of the company’s stock valued at $69,000 after buying an additional 1,880 shares during the last quarter. Tripletail Wealth Management LLC lifted its position in Matthews International by 206.5% during the 4th quarter. Tripletail Wealth Management LLC now owns 2,820 shares of the company’s stock worth $73,000 after buying an additional 1,900 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in shares of Matthews International by 51.6% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,080 shares of the company’s stock worth $74,000 after buying an additional 1,048 shares during the last quarter. Institutional investors and hedge funds 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.
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