Shares of Matthews International Corp (NASDAQ:MATW) hit a new 52-week low on Thursday . The stock traded as low as $39.05 and last traded at $40.33, with a volume of 6071 shares. The stock had previously closed at $40.00.
Several brokerages have weighed in on MATW. TheStreet cut shares of Matthews International from a “b” rating to a “c+” rating in a research note on Monday, August 20th. ValuEngine raised shares of Matthews International from a “strong sell” rating to a “sell” rating in a research note on Friday, September 7th. BidaskClub cut shares of Matthews International from a “sell” rating to a “strong sell” rating in a research note on Thursday, September 13th. Zacks Investment Research cut shares of Matthews International from a “buy” rating to a “hold” rating in a research note on Thursday, September 27th. Finally, Buckingham Research began coverage on shares of Matthews International in a research note on Tuesday, October 2nd. They set a “buy” rating and a $61.00 price objective on the stock. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $66.00.
The stock has a market capitalization of $1.31 billion, a PE ratio of 10.37 and a beta of 1.18. The company has a debt-to-equity ratio of 1.07, a quick ratio of 1.43 and a current ratio of 2.03.
Matthews International (NASDAQ:MATW) last announced its earnings results on Thursday, November 15th. The company reported $1.23 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.21 by $0.02. Matthews International had a net margin of 6.70% and a return on equity of 14.94%. The company had revenue of $407.44 million for the quarter, compared to analyst estimates of $398.03 million. On average, equities research analysts expect that Matthews International Corp will post 4.13 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 10th. Stockholders of record on Monday, November 26th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.95%. This is a positive change from Matthews International’s previous quarterly dividend of $0.19. The ex-dividend date is Friday, November 23rd. Matthews International’s dividend payout ratio is presently 20.20%.
In related news, insider David A. Schawk bought 1,000 shares of Matthews International stock in a transaction dated Tuesday, November 20th. The shares were bought at an average cost of $40.93 per share, for a total transaction of $40,930.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 3.80% of the stock is currently owned by corporate insiders.
Hedge funds have recently made changes to their positions in the company. Oppenheimer Asset Management Inc. acquired a new position in shares of Matthews International during the second quarter worth approximately $211,000. Toth Financial Advisory Corp lifted its holdings in Matthews International by 42.4% in the third quarter. Toth Financial Advisory Corp now owns 4,217 shares of the company’s stock valued at $212,000 after buying an additional 1,255 shares during the period. FDx Advisors Inc. acquired a new position in Matthews International in the second quarter valued at approximately $257,000. Private Advisor Group LLC acquired a new position in Matthews International in the second quarter valued at approximately $341,000. Finally, Manning & Napier Group LLC acquired a new position in Matthews International in the third quarter valued at approximately $306,000. Institutional investors own 82.46% of the company’s stock.
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About Matthews International (NASDAQ:MATW)
Matthews International Corporation provides brand solutions, memorialization products, and industrial products in the United States, Central and South America, Canada, Europe, Australia, and Asia. It operates through three segments: SGK Brand Solutions, Memorialization, and Industrial Technologies. The SGK Brand Solutions segment provides brand development, deployment, delivery, brand management, 3-D graphics renderings, pre-media graphics services, printing plates, gravure cylinders, steel bases, embossing tools, special purpose machinery, engineering assistance, print process assistance, print production management, digital asset management, content management, and package design services to brand owners and packaging manufacturers; and creative digital graphics services, as well as designs, engineers, manufactures, and executes merchandising and display systems.
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