Matthews International (NASDAQ:MATW) Sees Strong Trading Volume – Should You Buy?

Shares of Matthews International Corporation (NASDAQ:MATWGet Free Report) saw an uptick in trading volume on Friday . 331,063 shares were traded during trading, an increase of 11% from the previous session’s volume of 296,920 shares.The stock last traded at $21.52 and had previously closed at $21.66.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on MATW shares. Zacks Research lowered Matthews International from a “hold” rating to a “strong sell” rating in a research report on Monday, August 10th. Weiss Ratings downgraded Matthews International from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday. Truist Financial initiated coverage on Matthews International in a research report on Friday. They issued a “hold” rating and a $24.00 target price on the stock. Finally, Wall Street Zen lowered Matthews International from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. One investment analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Sell” and a consensus price target of $24.00.

Get Our Latest Stock Analysis on Matthews International

Matthews International Price Performance

The firm has a market cap of $661.96 million, a P/E ratio of -22.81 and a beta of 1.09. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.76 and a quick ratio of 1.02. The stock’s 50-day simple moving average is $26.21 and its two-hundred day simple moving average is $26.34.

Matthews International (NASDAQ:MATWGet Free Report) last released its earnings results on Friday, August 7th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.35). The firm had revenue of $246.02 million during the quarter, compared to the consensus estimate of $264.54 million. Matthews International had a positive return on equity of 4.51% and a negative net margin of 2.65%. Equities research analysts forecast that Matthews International Corporation will post 0.53 earnings per share 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. Shareholders of record on Monday, August 10th will be paid a $0.255 dividend. The ex-dividend date of this dividend is Monday, August 10th. This represents a $1.02 annualized dividend and a yield of 4.8%. Matthews International’s dividend payout ratio (DPR) is presently -109.68%.

Insider Activity at Matthews International

In other Matthews International news, Director J Michael Nauman purchased 2,000 shares of Matthews International stock in a transaction dated Monday, August 10th. The shares were purchased at an average cost of $22.97 per share, for a total transaction of $45,940.00. Following the completion of the acquisition, the director owned 7,081 shares in the company, valued at $162,650.57. This represents a 39.36% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Aleta W. Richards purchased 3,000 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The shares were acquired at an average cost of $23.06 per share, with a total value of $69,180.00. Following the completion of the purchase, the director directly owned 12,535 shares in the company, valued at $289,057.10. The trade was a 31.46% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 4.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Matthews International

Several institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its position in Matthews International by 5.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,614,201 shares of the company’s stock worth $41,677,000 after purchasing an additional 83,860 shares during the last quarter. UBS Group AG raised its holdings in shares of Matthews International by 45.2% in the fourth quarter. UBS Group AG now owns 151,700 shares of the company’s stock worth $3,962,000 after buying an additional 47,246 shares during the last quarter. Equitable Trust Co. lifted its stake in shares of Matthews International by 223.6% during the fourth quarter. Equitable Trust Co. now owns 29,045 shares of the company’s stock worth $759,000 after buying an additional 20,070 shares during the period. Peapack Gladstone Financial Corp acquired a new stake in shares of Matthews International during the fourth quarter worth $679,000. Finally, Forty three Eighteen Advisors LLC purchased a new stake in shares of Matthews International during the fourth quarter valued at $1,583,000. 83.08% of the stock is currently owned by institutional investors and hedge funds.

About Matthews International

(Get Free Report)

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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