Matthews International (NASDAQ:MATW – Get Free Report) was downgraded by Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Monday,Zacks.com reports.
MATW has been the subject of several other research reports. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Matthews International in a research report on Monday, August 3rd. Wall Street Zen downgraded Matthews International from a “hold” rating to a “sell” rating in a report on Saturday. Two research analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has an average rating of “Sell”.
Matthews International Stock Performance
Matthews International (NASDAQ:MATW – Get Free Report) last announced its quarterly 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). Matthews International had a negative net margin of 2.65% and a positive return on equity of 4.51%. The company had revenue of $246.02 million during the quarter, compared to analyst estimates of $264.54 million. As a group, equities research analysts expect that Matthews International will post 0.53 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Matthews International
A number of institutional investors have recently added to or reduced their stakes in MATW. Ameriprise Financial Inc. boosted its position in Matthews International by 9.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,664,426 shares of the company’s stock valued at $39,796,000 after buying an additional 137,015 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Matthews International by 5.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,614,201 shares of the company’s stock valued at $41,677,000 after acquiring an additional 83,860 shares in the last quarter. Gamco Investors INC. ET AL increased its position in shares of Matthews International by 9.7% during the fourth quarter. Gamco Investors INC. ET AL now owns 1,554,105 shares of the company’s stock worth $40,593,000 after acquiring an additional 136,794 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Matthews International by 2.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,100,957 shares of the company’s stock worth $27,832,000 after acquiring an additional 25,478 shares during the last quarter. Finally, Private Capital Management LLC increased its position in shares of Matthews International by 201.1% during the fourth quarter. Private Capital Management LLC now owns 1,018,587 shares of the company’s stock worth $26,605,000 after acquiring an additional 680,256 shares during the last quarter. Institutional investors and hedge funds own 83.08% of the company’s stock.
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.
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