StockNews.com Lowers Matthews International (NASDAQ:MATW) to Hold

StockNews.com downgraded shares of Matthews International (NASDAQ:MATWFree Report) from a buy rating to a hold rating in a research report released on Friday.

Separately, B. Riley dropped their target price on shares of Matthews International from $61.00 to $59.00 and set a buy rating for the company in a report on Monday, February 5th.

View Our Latest Report on MATW

Matthews International Trading Up 1.8 %

MATW stock opened at $29.29 on Friday. The company has a current ratio of 1.88, a quick ratio of 1.15 and a debt-to-equity ratio of 1.69. Matthews International has a 12-month low of $27.95 and a 12-month high of $48.86. The stock has a market cap of $898.62 million, a price-to-earnings ratio of 27.63 and a beta of 1.14. The business’s 50-day moving average is $34.54 and its 200 day moving average is $37.76.

Matthews International (NASDAQ:MATWGet Free Report) last released its earnings results on Thursday, November 16th. The company reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.06. Matthews International had a net margin of 1.77% and a return on equity of 16.44%. The business had revenue of $480.17 million for the quarter, compared to analyst estimates of $483.00 million. On average, sell-side analysts anticipate that Matthews International will post 2.66 EPS for the current fiscal year.

Matthews International Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 19th. Investors of record on Monday, February 5th will be issued a dividend of $0.24 per share. This is a boost from Matthews International’s previous quarterly dividend of $0.13. This represents a $0.96 annualized dividend and a yield of 3.28%. The ex-dividend date of this dividend is Friday, February 2nd. Matthews International’s dividend payout ratio is currently 90.57%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. US Bancorp DE lifted its stake in shares of Matthews International by 92.3% during the first quarter. US Bancorp DE now owns 854 shares of the company’s stock valued at $28,000 after buying an additional 410 shares during the period. Tower Research Capital LLC TRC lifted its stake in shares of Matthews International by 97.7% during the first quarter. Tower Research Capital LLC TRC now owns 858 shares of the company’s stock valued at $31,000 after buying an additional 424 shares during the period. Cruiser Capital Advisors LLC purchased a new position in shares of Matthews International during the first quarter valued at approximately $32,000. Covestor Ltd lifted its stake in shares of Matthews International by 15,914.3% during the third quarter. Covestor Ltd now owns 1,121 shares of the company’s stock valued at $43,000 after buying an additional 1,114 shares during the period. Finally, Lazard Asset Management LLC purchased a new position in shares of Matthews International during the second quarter valued at approximately $55,000. 76.40% of the stock is currently owned by institutional investors and hedge funds.

Matthews International Company Profile

(Get Free Report)

Matthews International Corporation provides brand solutions, memorialization products, and industrial technologies worldwide. It operates through three segments: Memorialization, Industrial Technologies, and SGK Brand Solutions. The Memorialization segment provides bronze and granite memorials, upright granite memorials and monuments, concrete burial vaults, cremation memorialization products, granite benches, flower vases, crypt plates and letters, cremation urns, niche units, cemetery features, and statues, as well as bronze plaques, letters, emblems, vases, lights and photo ceramics, granite monuments, mausoleums, crypts, and flush memorials.

Further Reading

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