Matthews International (NASDAQ:MATW) Posts Earnings Results, Misses Expectations By $0.35 EPS

Matthews International (NASDAQ:MATW) announced its quarterly earnings results on Thursday. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.35), Zacks reports. Matthews International had a negative net margin of 2.65% and a positive return on equity of 4.46%. The firm had revenue of $246.02 million for the quarter, compared to the consensus estimate of $264.54 million.

Matthews International Stock Performance

Shares of MATW stock opened at $23.70 on Friday. The company has a quick ratio of 0.97, a current ratio of 1.64 and a debt-to-equity ratio of 1.12. The company has a 50 day moving average price of $26.73 and a 200-day moving average price of $26.58. Matthews International has a 52 week low of $21.95 and a 52 week high of $30.93. The firm has a market capitalization of $739.44 million, a PE ratio of -25.48 and a beta of 1.09.

Matthews International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, August 10th will be paid a $0.255 dividend. The ex-dividend date is Monday, August 10th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 4.3%. Matthews International’s payout ratio is currently 329.03%.

Institutional Investors Weigh In On Matthews International

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. US Bancorp DE raised its stake 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 during the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of 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 buying an additional 1,880 shares during the last quarter. Tripletail Wealth Management LLC boosted its stake in shares of Matthews International by 206.5% in the 4th quarter. Tripletail Wealth Management LLC now owns 2,820 shares of the company’s stock worth $73,000 after buying an additional 1,900 shares during the last quarter. BNP Paribas Financial Markets grew its holdings in shares of Matthews International by 51.6% in the second quarter. BNP Paribas Financial Markets now owns 3,080 shares of the company’s stock worth $74,000 after acquiring an additional 1,048 shares during the period. Finally, Smartleaf Asset Management LLC grew its holdings in shares of Matthews International by 25.0% in the second quarter. Smartleaf Asset Management LLC now owns 3,445 shares of the company’s stock worth $84,000 after acquiring an additional 689 shares during the period. Hedge funds and other institutional investors own 83.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on MATW shares. Wall Street Zen cut Matthews International from a “hold” rating to a “sell” rating in a research report on Saturday. Weiss Ratings reissued a “sell (d+)” rating on shares of Matthews International in a report on Monday. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce”.

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.