Matthews International Co. (NASDAQ:MATW – Free Report) – Stock analysts at B. Riley decreased their FY2024 earnings per share (EPS) estimates for shares of Matthews International in a note issued to investors on Wednesday, September 25th. B. Riley analyst L. Burke now forecasts that the company will earn $2.03 per share for the year, down from their previous forecast of $2.53. B. Riley currently has a “Buy” rating and a $40.00 target price on the stock. The consensus estimate for Matthews International’s current full-year earnings is $2.53 per share. B. Riley also issued estimates for Matthews International’s Q4 2024 earnings at $0.41 EPS and FY2025 earnings at $1.93 EPS.
Matthews International Price Performance
Matthews International stock opened at $22.72 on Monday. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.02 and a current ratio of 1.66. The company has a market capitalization of $697.73 million, a price-to-earnings ratio of 21.58 and a beta of 1.08. The company’s 50 day simple moving average is $25.12 and its 200-day simple moving average is $26.54. Matthews International has a 1 year low of $22.47 and a 1 year high of $40.80.
Institutional Investors Weigh In On Matthews International
A number of institutional investors have recently modified their holdings of the company. Point72 DIFC Ltd acquired a new position in Matthews International during the 2nd quarter worth about $49,000. nVerses Capital LLC acquired a new position in Matthews International in the 2nd quarter valued at about $110,000. SG Americas Securities LLC purchased a new stake in Matthews International during the second quarter worth about $112,000. XTX Topco Ltd acquired a new stake in shares of Matthews International during the second quarter worth about $246,000. Finally, Inspire Investing LLC boosted its stake in shares of Matthews International by 12.3% in the first quarter. Inspire Investing LLC now owns 12,992 shares of the company’s stock valued at $404,000 after purchasing an additional 1,428 shares during the period. 83.08% of the stock is owned by institutional investors and hedge funds.
Matthews International Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Monday, August 5th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 4.23%. The ex-dividend date of this dividend was Monday, August 5th. Matthews International’s dividend payout ratio (DPR) is 90.57%.
About Matthews International
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.
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