Matthews International (NASDAQ:MATW) Issues Quarterly Earnings Results, Beats Estimates By $0.20 EPS

Matthews International (NASDAQ:MATW) issued its earnings results on Thursday. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.20, Zacks reports. Matthews International had a net margin of 1.64% and a return on equity of 5.95%.

Matthews International Price Performance

MATW traded up $0.76 during midday trading on Thursday, reaching $28.54. 234,075 shares of the company’s stock were exchanged, compared to its average volume of 140,981. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.51 and a quick ratio of 0.91. The stock has a market capitalization of $888.45 million, a PE ratio of 40.20 and a beta of 1.12. The business’s 50-day moving average price is $26.21 and its 200 day moving average price is $25.75. Matthews International has a 1-year low of $18.61 and a 1-year high of $29.11.

Matthews International Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 25th. Shareholders of record on Monday, May 11th will be given a dividend of $0.255 per share. The ex-dividend date is Monday, May 11th. This represents a $1.02 dividend on an annualized basis and a yield of 3.6%. Matthews International’s payout ratio is presently 143.66%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on MATW shares. Weiss Ratings upgraded shares of Matthews International from a “sell (d)” rating to a “hold (c)” rating in a research report on Friday, February 6th. Zacks Research upgraded shares of Matthews International from a “strong sell” rating to a “hold” rating in a research report on Monday, April 6th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Institutional Trading of Matthews International

Several institutional investors and hedge funds have recently modified their holdings of the business. Ameriprise Financial Inc. lifted its holdings in shares of Matthews International by 9.0% in the second quarter. Ameriprise Financial Inc. now owns 1,664,426 shares of the company’s stock valued at $39,796,000 after purchasing an additional 137,015 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Matthews International by 2.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,530,341 shares of the company’s stock valued at $39,973,000 after purchasing an additional 29,865 shares in the last quarter. Private Capital Management LLC lifted its holdings in shares of Matthews International by 201.1% in the fourth quarter. Private Capital Management LLC now owns 1,018,587 shares of the company’s stock valued at $26,605,000 after purchasing an additional 680,256 shares in the last quarter. Steel Partners Holdings L.P. purchased a new stake in shares of Matthews International in the fourth quarter valued at about $20,084,000. Finally, Geode Capital Management LLC lifted its holdings in shares of Matthews International by 0.3% in the fourth quarter. Geode Capital Management LLC now owns 740,854 shares of the company’s stock valued at $19,354,000 after purchasing an additional 2,561 shares in the last quarter. Hedge funds and other 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.