Matthews International (NASDAQ:MATW) Sees Unusually-High Trading Volume – What’s Next?

Matthews International Corporation (NASDAQ:MATW) saw unusually-high trading volume on Monday . Approximately 657,224 shares traded hands during mid-day trading, an increase of 218% from the previous session’s volume of 206,990 shares.The stock last traded at $26.5850 and had previously closed at $26.54.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on MATW shares. Weiss Ratings lowered Matthews International from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, May 6th. Wall Street Zen lowered shares of Matthews International from a “buy” rating to a “hold” rating in a report on Sunday, May 10th. Finally, Zacks Research raised shares of Matthews International from a “strong sell” rating to a “hold” rating in a research note on Monday, April 6th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Reduce”.

Matthews International Trading Up 0.3%

The company has a current ratio of 1.64, a quick ratio of 0.97 and a debt-to-equity ratio of 1.12. The company has a market cap of $830.33 million, a PE ratio of 85.87 and a beta of 1.08. The company has a fifty day simple moving average of $26.78 and a two-hundred day simple moving average of $26.33.

Matthews International (NASDAQ:MATW) last released its quarterly earnings data on Thursday, April 30th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.20. The business had revenue of $258.62 million during the quarter, compared to analysts’ expectations of $253.65 million. Matthews International had a net margin of 0.80% and a return on equity of 5.88%. Analysts anticipate that Matthews International Corporation will post 1.09 EPS for the current year.

Matthews International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 25th. Shareholders of record on Monday, May 11th were paid a $0.255 dividend. This represents a $1.02 annualized dividend and a yield of 3.8%. The ex-dividend date was Monday, May 11th. Matthews International’s dividend payout ratio is currently 329.03%.

Institutional Trading of Matthews International

A number of hedge funds and other institutional investors have recently made changes to their positions in MATW. US Bancorp DE increased its position in Matthews International by 45.9% during the third quarter. US Bancorp DE now owns 2,063 shares of the company’s stock worth $50,000 after buying an additional 649 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Matthews International during the third quarter worth approximately $59,000. Potomac Capital Management Inc. acquired a new position in shares of Matthews International in the 4th quarter valued at $59,000. Tower Research Capital LLC TRC raised its position in Matthews International by 187.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,885 shares of the company’s stock valued at $69,000 after purchasing an additional 1,880 shares during the last quarter. Finally, Tripletail Wealth Management LLC raised its position in Matthews International by 206.5% in the 4th quarter. Tripletail Wealth Management LLC now owns 2,820 shares of the company’s stock valued at $73,000 after purchasing an additional 1,900 shares during the last quarter. Institutional investors and hedge funds own 83.08% of the company’s stock.

About Matthews International

Matthews International Corporation (NASDAQ:MATW) is a diversified industrial company headquartered in Pittsburgh, Pennsylvania. The company operates through two primary business segments—Brand Solutions and Memorialization—offering a broad range of products and services designed to meet the needs of industrial manufacturers, brand marketers and the funeral industry worldwide.

In its Brand Solutions segment, Matthews International provides engraving and digital printing systems, automated finishing equipment, thermal management products and electronics assembly solutions.