Matthews International (NASDAQ:MATW) Hits New 12-Month Low – What’s Next?

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

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Zacks Research lowered Matthews International from a “hold” rating to a “strong sell” rating in a research note on Monday, August 10th. Weiss Ratings lowered Matthews International from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, August 17th. Truist Financial assumed coverage on shares of Matthews International in a research report on Friday, August 21st. They issued a “hold” rating and a $24.00 target price for the company. Finally, Wall Street Zen downgraded shares of Matthews International from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. One equities research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Sell” and a consensus price target of $24.00.

Matthews International Trading Down 1.9%

The business’s 50-day simple moving average is $24.54 and its two-hundred day simple moving average is $25.76. 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 firm has a market capitalization of $625.45 million, a price-to-earnings ratio of -21.55 and a beta of 1.04.

Matthews International (NASDAQ:MATW) last posted its earnings results on Friday, August 7th. The company reported $0.06 earnings per share 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. Equities analysts forecast that Matthews International Corporation will post 0.53 earnings per share for the current year.

Matthews International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 24th. Investors of record on Monday, August 10th were issued a $0.255 dividend. The ex-dividend date was Monday, August 10th. This represents a $1.02 dividend on an annualized basis and a yield of 5.1%. Matthews International’s dividend payout ratio (DPR) is -109.68%.

Insider Transactions at Matthews International

In other Matthews International news, Director J Nauman bought 2,000 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The shares were purchased at an average price of $22.97 per share, with a total value of $45,940.00. Following the completion of the acquisition, the director directly owned 7,081 shares of the company’s stock, valued at $162,650.57. This represents a 39.36% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Aleta W. Richards bought 3,000 shares of the business’s stock in a transaction dated Friday, August 14th. The shares were acquired at an average cost of $23.06 per share, for a total transaction of $69,180.00. Following the transaction, the director directly owned 12,535 shares in the company, valued at approximately $289,057.10. This represents a 31.46% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders have bought 7,900 shares of company stock valued at $177,924. Corporate insiders own 4.70% of the company’s stock.

Hedge Funds Weigh In On Matthews International

Several institutional investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio acquired a new stake in shares of Matthews International in the second quarter valued at about $38,000. US Bancorp DE grew its position in Matthews International by 45.9% during the third quarter. US Bancorp DE now owns 2,063 shares of the company’s stock worth $50,000 after buying an additional 649 shares during the period. Potomac Capital Management Inc. acquired a new position in Matthews International during the fourth quarter worth about $59,000. Tripletail Wealth Management LLC increased its holdings in Matthews International by 206.5% in the fourth quarter. Tripletail Wealth Management LLC now owns 2,820 shares of the company’s stock valued at $73,000 after buying an additional 1,900 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in shares of Matthews International by 187.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,885 shares of the company’s stock valued at $69,000 after acquiring an additional 1,880 shares during the period. 83.08% of the stock is owned by institutional investors and hedge funds.

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.