Matthews International (NASDAQ:MATW) Sets New 12-Month Low – Time to Sell?

Matthews International Corporation (NASDAQ:MATWGet Free Report) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $20.13 and last traded at $20.3510, with a volume of 37721 shares traded. The stock had previously closed at $20.39.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Truist Financial began coverage on shares of Matthews International in a research note on Friday, August 21st. They set a “hold” rating and a $24.00 target price on the stock. Weiss Ratings cut Matthews International from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, August 17th. Wall Street Zen downgraded Matthews International from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Finally, Zacks Research cut shares of Matthews International from a “hold” rating to a “strong sell” rating in a research report on Monday, August 10th. One investment analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Matthews International presently has a consensus rating of “Sell” and an average price target of $24.00.

View Our Latest Stock Analysis on Matthews International

Matthews International Trading Up 0.0%

The company has a quick ratio of 1.02, a current ratio of 1.76 and a debt-to-equity ratio of 1.15. The stock’s 50 day moving average is $24.80 and its 200-day moving average is $25.85. The company has a market cap of $636.75 million, a PE ratio of -21.95 and a beta of 1.04.

Matthews International (NASDAQ:MATWGet Free Report) last issued its quarterly earnings data on Friday, August 7th. The company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.35). The business had revenue of $246.02 million during the quarter, compared to analysts’ expectations of $264.54 million. Matthews International had a positive return on equity of 4.51% and a negative net margin of 2.65%. As a group, sell-side analysts anticipate that Matthews International Corporation will post 0.53 EPS for the current year.

Matthews International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 24th. Shareholders of record on Monday, August 10th were given a dividend of $0.255 per share. The ex-dividend date was Monday, August 10th. This represents a $1.02 dividend on an annualized basis and a yield of 5.0%. Matthews International’s dividend payout ratio is -109.68%.

Insider Buying and Selling

In other news, Director Aleta W. Richards acquired 3,000 shares of the company’s stock in a transaction on Friday, August 14th. The stock was bought 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 of the company’s stock, valued at $289,057.10. This represents a 31.46% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director J Nauman bought 2,000 shares of Matthews International stock in a transaction dated Monday, August 10th. The stock was purchased at an average cost of $22.97 per share, for a total transaction of $45,940.00. Following the purchase, the director owned 7,081 shares of the company’s stock, valued at approximately $162,650.57. This trade represents a 39.36% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last quarter, insiders bought 7,900 shares of company stock valued at $177,924. Company insiders own 4.70% of the company’s stock.

Institutional Investors Weigh In On Matthews International

A number of institutional investors and hedge funds have recently modified their holdings of the business. Public Employees Retirement System of Ohio purchased a new stake in shares of Matthews International during the second quarter valued at $38,000. US Bancorp DE lifted its holdings in Matthews International by 45.9% during the 3rd quarter. US Bancorp DE now owns 2,063 shares of the company’s stock valued at $50,000 after buying an additional 649 shares in the last quarter. Potomac Capital Management Inc. purchased a new stake in Matthews International in the 4th quarter valued at about $59,000. Tower Research Capital LLC TRC grew 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 worth $69,000 after acquiring an additional 1,880 shares in the last quarter. Finally, Tripletail Wealth Management LLC increased its position in shares of Matthews International by 206.5% during the fourth quarter. Tripletail Wealth Management LLC now owns 2,820 shares of the company’s stock worth $73,000 after acquiring an additional 1,900 shares during the period. 83.08% of the stock is owned by institutional investors.

Matthews International Company Profile

(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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