Matthews International (NASDAQ:MATW) Hits New 12-Month Low at $27.62

Shares of Matthews International Co. (NASDAQ:MATW – Get Rating) hit a new 52-week low on Tuesday . The company traded as low as $27.62 and last traded at $28.20, with a volume of 121078 shares trading hands. The stock had previously closed at $27.94.

Separately, StockNews.com assumed coverage on Matthews International in a report on Thursday, March 31st. They issued a “buy” rating on the stock.

The stock has a market cap of $882.83 million, a PE ratio of -39.91 and a beta of 1.08. The business has a 50 day moving average price of $30.67 and a 200 day moving average price of $33.13. The company has a quick ratio of 1.21, a current ratio of 1.81 and a debt-to-equity ratio of 1.19.

Matthews International (NASDAQ:MATW – Get Rating) last announced its earnings results on Thursday, April 28th. The company reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.70 by $0.04. Matthews International had a positive return on equity of 16.01% and a negative net margin of 1.26%. The business had revenue of $444.98 million during the quarter, compared to analysts’ expectations of $430.82 million. During the same quarter in the prior year, the firm earned $0.89 earnings per share. On average, research analysts predict that Matthews International Co. will post 2.99 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, May 23rd. Shareholders of record on Monday, May 9th were paid a dividend of $0.22 per share. This is a boost from Matthews International’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Friday, May 6th. This represents a $0.88 annualized dividend and a yield of 3.12%. Matthews International’s dividend payout ratio (DPR) is -125.71%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC purchased a new position in Matthews International in the fourth quarter valued at $15,934,000. Norges Bank purchased a new position in Matthews International in the fourth quarter valued at $11,488,000. Phoenix Holdings Ltd. boosted its holdings in Matthews International by 15.0% in the first quarter. Phoenix Holdings Ltd. now owns 1,840,204 shares of the company’s stock valued at $59,558,000 after purchasing an additional 239,744 shares during the period. BlackRock Inc. boosted its holdings in Matthews International by 3.0% in the fourth quarter. BlackRock Inc. now owns 5,392,078 shares of the company’s stock valued at $197,728,000 after purchasing an additional 158,222 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in Matthews International by 2.2% in the first quarter. Vanguard Group Inc. now owns 3,491,378 shares of the company’s stock valued at $112,981,000 after purchasing an additional 74,954 shares during the period. Institutional investors and hedge funds own 80.83% of the company’s stock.

About Matthews International (NASDAQ:MATW)

Matthews International Corporation provides brand solutions, memorialization products, and industrial technologies worldwide. It operates through three segments: SGK Brand Solutions, Memorialization, and Industrial Technologies. The SGK Brand solutions segment provides brand management, pre-media services, printing plates and cylinders, engineered products, imaging services, digital asset management, merchandising display systems, and marketing and design services for the consumer goods and retail industries.

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