Matthews International (NASDAQ:MATW) Sees Large Volume Increase – What’s Next?

Matthews International Corporation (NASDAQ:MATW) shares saw unusually-strong trading volume on Monday . Approximately 657,224 shares changed hands during 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.

Analysts Set New Price Targets

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

Matthews International Stock Performance

The firm has a fifty day moving average of $26.78 and a 200-day moving average of $26.33. The company has a quick ratio of 0.97, a current ratio of 1.64 and a debt-to-equity ratio of 1.12. The stock has a market capitalization of $830.33 million, a price-to-earnings ratio of 85.87 and a beta of 1.08.

Matthews International (NASDAQ:MATW) last posted its earnings results on Thursday, April 30th. The company reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.20. Matthews International had a return on equity of 5.88% and a net margin of 0.80%.The company had revenue of $258.62 million for the quarter, compared to analyst estimates of $253.65 million. As a group, sell-side analysts anticipate that Matthews International Corporation will post 1.09 EPS for the current year.

Matthews International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, May 25th. Shareholders of record on Monday, May 11th were issued a $0.255 dividend. This represents a $1.02 annualized dividend and a dividend yield of 3.8%. 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

Several large investors have recently added to or reduced their stakes in the business. Ameriprise Financial Inc. raised its stake in shares of Matthews International by 9.0% during 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 increased its stake in shares of Matthews International by 5.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,614,201 shares of the company’s stock valued at $41,677,000 after acquiring an additional 83,860 shares during the period. Gamco Investors INC. ET AL increased its stake in shares of Matthews International by 9.7% during the fourth quarter. Gamco Investors INC. ET AL now owns 1,554,105 shares of the company’s stock valued at $40,593,000 after acquiring an additional 136,794 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Matthews International by 2.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,100,957 shares of the company’s stock worth $27,832,000 after purchasing an additional 25,478 shares in the last quarter. Finally, Private Capital Management LLC lifted its position in Matthews International by 201.1% in the fourth quarter. Private Capital Management LLC now owns 1,018,587 shares of the company’s stock worth $26,605,000 after purchasing an additional 680,256 shares during the period. 83.08% of the stock is currently owned by institutional investors and hedge funds.

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.