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

Matthews International Corporation (NASDAQ:MATW) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $23.04 and traded as high as $23.49. Matthews International shares last traded at $23.08, with a volume of 272,667 shares traded.

Wall Street Analyst Weigh In

MATW has been the topic of a number of recent analyst reports. Weiss Ratings restated a “sell (d)” rating on shares of Matthews International in a report on Wednesday, October 8th. Wall Street Zen upgraded Matthews International from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, Matthews International presently has an average rating of “Sell”.

Matthews International Stock Performance

The company has a market cap of $710.63 million, a price-to-earnings ratio of -10.89 and a beta of 1.29. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.66 and a quick ratio of 0.98. The stock has a 50-day moving average price of $24.13 and a 200 day moving average price of $23.04.

Matthews International (NASDAQ:MATW) last released its quarterly earnings results on Wednesday, February 16th. The company reported $0.68 EPS for the quarter. The company had revenue of $386.66 million for the quarter. Matthews International had a positive return on equity of 9.15% and a negative net margin of 4.01%. As a group, analysts anticipate that Matthews International Corporation will post 1.73 EPS for the current fiscal year.

Institutional Investors Weigh In On Matthews International

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Ameriprise Financial Inc. raised its position in Matthews International by 9.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,664,426 shares of the company’s stock valued at $39,796,000 after buying an additional 137,015 shares during the last quarter. Gamco Investors INC. ET AL raised its position in Matthews International by 11.0% in the 2nd quarter. Gamco Investors INC. ET AL now owns 1,386,045 shares of the company’s stock valued at $33,140,000 after buying an additional 137,189 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in Matthews International by 5.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,053,433 shares of the company’s stock valued at $25,346,000 after buying an additional 53,035 shares during the last quarter. Boston Partners raised its position in Matthews International by 111.4% in the 2nd quarter. Boston Partners now owns 962,799 shares of the company’s stock valued at $23,021,000 after buying an additional 507,324 shares during the last quarter. Finally, Barington Capital Group L.P. raised its position in Matthews International by 14.3% in the 2nd quarter. Barington Capital Group L.P. now owns 912,804 shares of the company’s stock valued at $21,825,000 after buying an additional 114,187 shares during the last quarter. Institutional investors and hedge funds own 83.08% of the company’s stock.

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.