Matthews International (NASDAQ:MATW) Shares Gap Up to $26.88

Matthews International Co. (NASDAQ:MATW)’s share price gapped up before the market opened on Friday . The stock had previously closed at $26.88, but opened at $29.08. Matthews International shares last traded at $29.48, with a volume of 29,585 shares.

Analyst Ratings Changes

Several research analysts recently issued reports on MATW shares. StockNews.com cut shares of Matthews International from a “buy” rating to a “hold” rating in a report on Friday, February 9th. B. Riley dropped their price target on shares of Matthews International from $61.00 to $59.00 and set a “buy” rating on the stock in a research report on Monday, February 5th.

Matthews International Trading Up 5.4 %

The company’s 50-day moving average price is $28.34 and its 200-day moving average price is $32.41. The firm has a market cap of $877.14 million, a price-to-earnings ratio of 27.78 and a beta of 1.14. The company has a quick ratio of 1.15, a current ratio of 1.88 and a debt-to-equity ratio of 1.69.

Matthews International (NASDAQ:MATW) last posted its quarterly earnings results on Thursday, February 1st. The company reported $0.37 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.37. The firm had revenue of $449.99 million for the quarter, compared to analyst estimates of $437.77 million. Matthews International had a net margin of 1.77% and a return on equity of 16.44%. Equities analysts expect that Matthews International Co. will post 2.6 EPS for the current fiscal year.

Matthews International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Investors of record on Monday, May 6th will be given a dividend of $0.24 per share. The ex-dividend date is Friday, May 3rd. This represents a $0.96 dividend on an annualized basis and a yield of 3.36%. Matthews International’s payout ratio is presently 90.57%.

Hedge Funds Weigh In On Matthews International

Institutional investors have recently bought and sold shares of the company. Campbell Capital Management Inc. purchased a new position in Matthews International during the fourth quarter worth about $4,236,000. Great Lakes Advisors LLC purchased a new position in Matthews International during the third quarter worth about $2,530,000. Skylands Capital LLC raised its stake in Matthews International by 620.0% during the fourth quarter. Skylands Capital LLC now owns 16,200 shares of the company’s stock worth $594,000 after purchasing an additional 13,950 shares during the period. Deutsche Bank AG raised its stake in Matthews International by 12.5% during the third quarter. Deutsche Bank AG now owns 17,270 shares of the company’s stock worth $672,000 after purchasing an additional 1,914 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Matthews International by 53.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 470,016 shares of the company’s stock valued at $17,226,000 after acquiring an additional 163,984 shares during the period. 83.08% of the stock is owned by hedge funds and other institutional investors.

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.