Matthews International (NASDAQ:MATW) Shares Gap Up – Here’s What Happened

Matthews International Co. (NASDAQ:MATW)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $26.74, but opened at $30.50. Matthews International shares last traded at $28.36, with a volume of 134,447 shares changing hands.

Matthews International Stock Performance

The company has a quick ratio of 0.91, a current ratio of 1.45 and a debt-to-equity ratio of 1.76. The company has a 50 day moving average of $29.17 and a 200 day moving average of $26.18.

Matthews International (NASDAQ:MATW) last issued its quarterly earnings results on Thursday, February 6th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.12). Matthews International had a positive return on equity of 12.42% and a negative net margin of 3.48%. As a group, equities research analysts predict that Matthews International Co. will post 2 earnings per share for the current year.

Matthews International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, February 24th. Investors of record on Monday, February 10th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a yield of 3.77%. Matthews International’s dividend payout ratio (DPR) is -50.76%.

Institutional Trading of Matthews International

Several institutional investors and hedge funds have recently bought and sold shares of the company. State Street Corp increased its holdings in shares of Matthews International by 6.8% in the 3rd quarter. State Street Corp now owns 1,208,505 shares of the company’s stock valued at $28,037,000 after acquiring an additional 76,911 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in Matthews International by 10.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 781,592 shares of the company’s stock worth $21,126,000 after purchasing an additional 73,240 shares during the period. Geode Capital Management LLC raised its holdings in shares of Matthews International by 0.9% during the third quarter. Geode Capital Management LLC now owns 729,539 shares of the company’s stock worth $16,929,000 after purchasing an additional 6,536 shares during the period. Barington Capital Group L.P. lifted its position in shares of Matthews International by 18.2% in the 3rd quarter. Barington Capital Group L.P. now owns 455,000 shares of the company’s stock worth $10,556,000 after buying an additional 70,000 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Matthews International by 10.0% in the 4th quarter. Bank of New York Mellon Corp now owns 375,855 shares of the company’s stock valued at $10,404,000 after buying an additional 34,064 shares during the period. Institutional investors and hedge funds own 83.08% of the company’s stock.

Matthews International Company Profile

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.