Matthews International (NASDAQ:MATW) Share Price Crosses Above 200 Day Moving Average – Here’s What Happened

Shares of Matthews International Corporation (NASDAQ:MATW) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $26.53 and traded as high as $27.25. Matthews International shares last traded at $26.72, with a volume of 156,528 shares changing hands.

Wall Street Analysts Forecast Growth

MATW has been the topic of a number of research analyst reports. Zacks Research raised shares of Matthews International from a “strong sell” rating to a “hold” rating in a research report on Monday, April 6th. Weiss Ratings downgraded Matthews International from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, May 6th. Finally, Wall Street Zen downgraded Matthews International from a “buy” rating to a “hold” rating in a research note on Sunday, May 10th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Reduce”.

Matthews International Stock Down 1.7%

The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.97 and a current ratio of 1.64. The firm’s 50 day moving average price is $26.60 and its two-hundred day moving average price is $26.53. The company has a market cap of $857.53 million, a P/E ratio of 88.48 and a beta of 1.08.

Matthews International (NASDAQ:MATW) last issued its earnings results 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. Matthews International had a net margin of 0.80% and a return on equity of 5.88%. The business had revenue of $258.62 million for the quarter, compared to analyst estimates of $253.65 million. Equities research analysts anticipate that Matthews International Corporation will post 1.09 EPS for the current fiscal year.

Matthews International Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 25th. Stockholders of record on Monday, May 11th were given a dividend of $0.255 per share. This represents a $1.02 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend was Monday, May 11th. Matthews International’s dividend payout ratio is 329.03%.

Institutional Trading of Matthews International

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. UBS Group AG grew its stake in Matthews International by 45.2% in the fourth quarter. UBS Group AG now owns 151,700 shares of the company’s stock valued at $3,962,000 after acquiring an additional 47,246 shares during the period. Peapack Gladstone Financial Corp bought a new stake in shares of Matthews International during the fourth quarter valued at approximately $679,000. Allspring Global Investments Holdings LLC raised its position in shares of Matthews International by 2.1% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,075,479 shares of the company’s stock worth $27,887,000 after purchasing an additional 22,046 shares during the period. Equitable Trust Co. raised its position in shares of Matthews International by 223.6% during the fourth quarter. Equitable Trust Co. now owns 29,045 shares of the company’s stock worth $759,000 after purchasing an additional 20,070 shares during the period. Finally, Forty three Eighteen Advisors LLC bought a new position in shares of Matthews International in the 4th quarter worth $1,583,000. 83.08% of the stock is owned by institutional investors.

Matthews International Company Profile

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.