Matthews International (NASDAQ:MATW) Announces Quarterly Earnings Results, Misses Estimates By $0.24 EPS

Matthews International (NASDAQ:MATW) released its quarterly earnings results on Tuesday. The company reported ($0.19) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.24), Zacks reports. Matthews International had a negative net margin of 1.63% and a positive return on equity of 8.65%.

Matthews International Stock Performance

Shares of Matthews International stock traded down $0.22 on Tuesday, reaching $26.43. 148,565 shares of the stock were exchanged, compared to its average volume of 237,539. The business has a 50 day moving average price of $26.43 and a two-hundred day moving average price of $24.92. The firm has a market capitalization of $822.77 million, a price-to-earnings ratio of -33.46 and a beta of 1.19. The company has a quick ratio of 0.91, a current ratio of 1.48 and a debt-to-equity ratio of 1.46. Matthews International has a twelve month low of $18.50 and a twelve month high of $30.96.

Matthews International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 23rd. Shareholders of record on Monday, February 9th will be given a dividend of $0.255 per share. The ex-dividend date of this dividend is Monday, February 9th. This represents a $1.02 dividend on an annualized basis and a yield of 3.9%. Matthews International’s payout ratio is currently -129.11%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. US Bancorp DE lifted its holdings in Matthews International by 45.9% during the third quarter. US Bancorp DE now owns 2,063 shares of the company’s stock valued at $50,000 after purchasing an additional 649 shares in the last quarter. Tower Research Capital LLC TRC raised its holdings 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 worth $69,000 after acquiring an additional 1,880 shares during the period. BNP Paribas Financial Markets boosted its holdings in Matthews International by 51.6% in the 2nd quarter. BNP Paribas Financial Markets now owns 3,080 shares of the company’s stock valued at $74,000 after purchasing an additional 1,048 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in Matthews International by 25.0% in the second quarter. Smartleaf Asset Management LLC now owns 3,445 shares of the company’s stock valued at $84,000 after acquiring an additional 689 shares during the last quarter. Finally, iSAM Funds UK Ltd purchased a new position in shares of Matthews International during the 3rd quarter worth $116,000. Hedge funds and other institutional investors own 83.08% of the company’s stock.

Analyst Upgrades and Downgrades

MATW has been the topic of a number of recent analyst reports. Zacks Research cut Matthews International from a “hold” rating to a “strong sell” rating in a report on Monday, January 19th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Matthews International in a research note on Thursday, January 22nd. Two analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

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.