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

Matthews International (NASDAQ:MATW) announced its earnings results on Thursday. The company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.20, Zacks reports. Matthews International had a return on equity of 5.88% and a net margin of 0.80%.The firm had revenue of $258.62 million for the quarter, compared to analyst estimates of $253.65 million.

Matthews International Trading Up 0.2%

Shares of MATW traded up $0.07 during midday trading on Friday, reaching $28.61. The company had a trading volume of 309,863 shares, compared to its average volume of 145,770. Matthews International has a 1-year low of $18.61 and a 1-year high of $30.93. The stock has a market cap of $890.63 million, a PE ratio of 40.30 and a beta of 1.12. The firm has a 50 day simple moving average of $26.21 and a 200-day simple moving average of $25.75. The company has a quick ratio of 0.91, a current ratio of 1.51 and a debt-to-equity ratio of 0.98.

Matthews International Announces Dividend

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

Institutional Trading of Matthews International

A number of hedge funds and other institutional investors have recently modified their holdings of MATW. Price T Rowe Associates Inc. MD increased its position in shares of Matthews International by 0.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 81,127 shares of the company’s stock worth $2,121,000 after purchasing an additional 606 shares during the last quarter. US Bancorp DE increased its position in shares of Matthews International by 45.9% during the 3rd quarter. US Bancorp DE now owns 2,063 shares of the company’s stock worth $50,000 after purchasing an additional 649 shares during the last quarter. Smartleaf Asset Management LLC increased its position in shares of Matthews International by 25.0% during the 2nd quarter. Smartleaf Asset Management LLC now owns 3,445 shares of the company’s stock worth $84,000 after purchasing an additional 689 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position 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 purchasing an additional 780 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its position in shares of Matthews International by 51.6% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,080 shares of the company’s stock worth $74,000 after purchasing an additional 1,048 shares during the last quarter. 83.08% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on MATW shares. Weiss Ratings upgraded Matthews International from a “sell (d)” rating to a “hold (c)” rating in a report on Friday, February 6th. Wall Street Zen upgraded Matthews International from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Zacks Research upgraded Matthews International from a “strong sell” rating to a “hold” rating in a report on Monday, April 6th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Hold”.

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.