Matthews International (NASDAQ:MATW) Stock Price Crosses Above 200 Day Moving Average – Time to Sell?

Matthews International Corporation (NASDAQ:MATW)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $26.61 and traded as high as $29.14. Matthews International shares last traded at $28.85, with a volume of 226,986 shares trading hands.

Analyst Upgrades and Downgrades

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

Matthews International Stock Down 2.4%

The company has a fifty day moving average of $26.68 and a two-hundred day moving average of $26.61. The company has a market cap of $865.80 million, a PE ratio of 89.52 and a beta of 1.08. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.97 and a current ratio of 1.64.

Matthews International (NASDAQ:MATW) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.37 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 company had revenue of $258.62 million during the quarter, compared to analyst estimates of $253.65 million. As a group, analysts anticipate that Matthews International Corporation will post 1.09 earnings per share for the current fiscal year.

Matthews International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, August 10th will be paid a $0.255 dividend. The ex-dividend date of this dividend is Monday, August 10th. This represents a $1.02 annualized dividend and a yield of 3.7%. Matthews International’s dividend payout ratio (DPR) is presently 329.03%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Matthews International by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,686 shares of the company’s stock worth $393,000 after acquiring an additional 780 shares during the last quarter. Jane Street Group LLC purchased a new position in Matthews International during the 1st quarter valued at $1,227,000. Intech Investment Management LLC grew its position in Matthews International by 316.4% in the 1st quarter. Intech Investment Management LLC now owns 59,502 shares of the company’s stock valued at $1,323,000 after acquiring an additional 45,212 shares during the last quarter. American Century Companies Inc. grew its position in Matthews International by 7.9% in the 2nd quarter. American Century Companies Inc. now owns 64,988 shares of the company’s stock valued at $1,554,000 after acquiring an additional 4,742 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new stake in Matthews International in the second quarter worth $1,406,000. Institutional investors own 83.08% of the company’s stock.

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.