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

Matthews International Corporation (NASDAQ:MATW) hit a new 52-week low during mid-day trading on Thursday . The company traded as low as $21.75 and last traded at $21.6550, with a volume of 18035 shares changing hands. The stock had previously closed at $22.32.

Analysts Set New Price Targets

A number of research firms have recently commented on MATW. Weiss Ratings downgraded Matthews International from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday. Truist Financial began coverage on Matthews International in a research note on Friday. They set a “hold” rating and a $24.00 target price for the company. Zacks Research lowered Matthews International from a “hold” rating to a “strong sell” rating in a report on Monday, August 10th. Finally, Wall Street Zen cut shares of Matthews International from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. One analyst has rated the stock with a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Sell” and an average price target of $24.00.

Matthews International Stock Performance

The firm’s fifty day simple moving average is $26.09 and its 200 day simple moving average is $26.30. The company has a market capitalization of $663.90 million, a price-to-earnings ratio of -22.87 and a beta of 1.09. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.76 and a quick ratio of 1.02.

Matthews International (NASDAQ:MATW) last released its quarterly earnings results on Friday, August 7th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.35). The firm had revenue of $246.02 million for the quarter, compared to analyst estimates of $264.54 million. Matthews International had a negative net margin of 2.65% and a positive return on equity of 4.51%. On average, sell-side analysts forecast that Matthews International Corporation will post 0.53 EPS for the current year.

Matthews International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, August 10th will be given a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a yield of 4.8%. The ex-dividend date is Monday, August 10th. Matthews International’s payout ratio is presently -109.68%.

Insider Buying and Selling at Matthews International

In other Matthews International news, Director Aleta W. Richards bought 3,000 shares of the firm’s stock in a transaction dated Friday, August 14th. The stock was acquired at an average price of $23.06 per share, with a total value of $69,180.00. Following the completion of 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. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director J Michael Nauman bought 2,000 shares of the firm’s stock in a transaction dated Monday, August 10th. The stock was acquired at an average cost of $22.97 per share, with a total value of $45,940.00. Following the transaction, the director owned 7,081 shares of the company’s stock, valued at $162,650.57. This trade represents a 39.36% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 4.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Matthews International

Several hedge funds have recently bought and sold shares of MATW. Ameriprise Financial Inc. boosted its position in Matthews International by 9.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,664,426 shares of the company’s stock worth $39,796,000 after acquiring an additional 137,015 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Matthews International by 5.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,614,201 shares of the company’s stock valued at $41,677,000 after purchasing an additional 83,860 shares during the period. Gamco Investors INC. ET AL increased its holdings in shares of Matthews International by 9.7% in the 4th quarter. Gamco Investors INC. ET AL now owns 1,554,105 shares of the company’s stock valued at $40,593,000 after purchasing an additional 136,794 shares during the period. Allspring Global Investments Holdings LLC lifted its position in shares of Matthews International by 2.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 1,100,957 shares of the company’s stock worth $27,832,000 after purchasing an additional 25,478 shares in the last quarter. Finally, Private Capital Management LLC lifted its position in shares of Matthews International by 201.1% in the fourth quarter. Private Capital Management LLC now owns 1,018,587 shares of the company’s stock worth $26,605,000 after purchasing an additional 680,256 shares in the last quarter. 83.08% of the stock is owned by hedge funds and other institutional investors.

Matthews International Company Profile

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.