Matthews International (NASDAQ:MATW) Sets New 1-Year Low – Here’s What Happened

Matthews International Co. (NASDAQ:MATW)’s stock price reached a new 52-week low on Thursday . The stock traded as low as $20.33 and last traded at $20.56, with a volume of 30664 shares. The stock had previously closed at $22.43.

Matthews International Price Performance

The company has a current ratio of 1.58, a quick ratio of 0.96 and a debt-to-equity ratio of 1.94. The company has a 50 day moving average of $24.54 and a 200-day moving average of $25.65. The firm has a market capitalization of $618.76 million, a P/E ratio of -10.14 and a beta of 1.09.

Matthews International (NASDAQ:MATW) last posted its earnings results on Thursday, February 6th. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.12). Matthews International had a positive return on equity of 12.88% and a negative net margin of 3.48%. On average, sell-side analysts predict that Matthews International Co. will post 1.73 EPS for the current year.

Matthews International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, February 24th. Shareholders of record on Monday, February 10th were given a dividend of $0.25 per share. The ex-dividend date was Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.01%. Matthews International’s payout ratio is presently -50.76%.

Institutional Investors Weigh In On Matthews International

A number of hedge funds and other institutional investors have recently made changes to their positions in MATW. Quadrant Capital Group LLC grew its position in Matthews International by 551.8% during the fourth quarter. Quadrant Capital Group LLC now owns 906 shares of the company’s stock worth $25,000 after buying an additional 767 shares in the last quarter. Sterling Capital Management LLC lifted its position in shares of Matthews International by 797.2% during the 4th quarter. Sterling Capital Management LLC now owns 951 shares of the company’s stock valued at $26,000 after acquiring an additional 845 shares during the period. Smartleaf Asset Management LLC grew its holdings in shares of Matthews International by 1,865.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 4,500 shares of the company’s stock worth $125,000 after purchasing an additional 4,271 shares in the last quarter. AlphaQuest LLC acquired a new stake in shares of Matthews International during the 4th quarter worth $154,000. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Matthews International in the fourth quarter worth $155,000. 83.08% of the stock is currently owned by institutional investors and hedge funds.

About Matthews International

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.