Matthews International (NASDAQ:MATW) Hits New 12-Month Low at $17.01

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Matthews International Corp (NASDAQ:MATW)’s stock price reached a new 52-week low during trading on Monday . The company traded as low as $17.01 and last traded at $18.15, with a volume of 555800 shares trading hands. The stock had previously closed at $18.15.

MATW has been the topic of a number of analyst reports. Zacks Investment Research upgraded Matthews International from a “strong sell” rating to a “buy” rating and set a $21.00 target price on the stock in a research report on Wednesday. B. Riley decreased their price target on shares of Matthews International from $65.00 to $50.00 and set a “buy” rating on the stock in a research note on Wednesday, April 29th. Finally, ValuEngine lowered shares of Matthews International from a “hold” rating to a “sell” rating in a research note on Tuesday, March 3rd.

The stock has a market capitalization of $593.80 million, a PE ratio of 6.31 and a beta of 1.12. The stock’s 50 day moving average is $20.24 and its two-hundred day moving average is $27.95. The company has a debt-to-equity ratio of 1.59, a quick ratio of 1.36 and a current ratio of 1.94.

Matthews International (NASDAQ:MATW) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.63 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.25. The firm had revenue of $374.80 million for the quarter, compared to analyst estimates of $367.59 million. Matthews International had a negative net margin of 10.15% and a positive return on equity of 13.12%. Equities research analysts expect that Matthews International Corp will post 2.56 EPS for the current fiscal year.

In other Matthews International news, insider Edward M. Brady, Jr. bought 2,000 shares of the firm’s stock in a transaction on Thursday, June 11th. The shares were acquired at an average cost of $19.00 per share, with a total value of $38,000.00. Following the purchase, the insider now directly owns 8,920 shares of the company’s stock, valued at approximately $169,480. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 3.40% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Paradigm Asset Management Co. LLC purchased a new position in Matthews International in the 4th quarter worth approximately $97,000. Bank of Montreal Can lifted its stake in Matthews International by 28.7% in the 4th quarter. Bank of Montreal Can now owns 4,823 shares of the company’s stock worth $184,000 after purchasing an additional 1,076 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Matthews International by 17.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 5,211 shares of the company’s stock worth $199,000 after purchasing an additional 768 shares in the last quarter. Amalgamated Bank purchased a new position in Matthews International in the 4th quarter worth approximately $200,000. Finally, Private Advisor Group LLC purchased a new position in Matthews International in the 4th quarter worth approximately $209,000. 83.46% of the stock is currently owned by institutional investors and hedge funds.

About Matthews International (NASDAQ:MATW)

Matthews International Corporation provides brand solutions, memorialization products, and industrial products worldwide. The company's SGK Brand Solutions segment provides brand development and graphic design services, such as visual intellectual properties, packaging, and content creation; brand deployment and activation services, including design and production of merchandising exhibits and shopper experiences in digital and printed media channels; and consulting services to brand owners on workflow best practices, management and technologies, printing quality, measurement, and consistency.

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