Matthews International (NASDAQ:MATW) Issues Earnings Results

Matthews International (NASDAQ:MATW) announced its quarterly earnings results on Thursday. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.35), Zacks reports. Matthews International had a negative net margin of 2.65% and a positive return on equity of 4.46%. The company had revenue of $246.02 million for the quarter, compared to analyst estimates of $264.54 million.

Matthews International Stock Performance

MATW opened at $23.70 on Friday. 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’s 50 day moving average price is $26.73 and its two-hundred day moving average price is $26.58. The firm has a market capitalization of $739.44 million, a P/E ratio of -25.48 and a beta of 1.09. Matthews International has a 12-month low of $21.95 and a 12-month high of $30.93.

Matthews International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, August 10th will be issued a $0.255 dividend. The ex-dividend date of this dividend is Monday, August 10th. This represents a $1.02 dividend on an annualized basis and a yield of 4.3%. Matthews International’s dividend payout ratio (DPR) is 329.03%.

Institutional Investors Weigh In On Matthews International

Hedge funds have recently modified their holdings of the business. US Bancorp DE increased its position in Matthews International by 45.9% during the third quarter. US Bancorp DE now owns 2,063 shares of the company’s stock worth $50,000 after acquiring an additional 649 shares during the period. Tripletail Wealth Management LLC boosted its holdings in Matthews International by 206.5% in the 4th quarter. Tripletail Wealth Management LLC now owns 2,820 shares of the company’s stock valued at $73,000 after purchasing an additional 1,900 shares during the period. Tower Research Capital LLC TRC grew its position in Matthews International by 187.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,885 shares of the company’s stock worth $69,000 after purchasing an additional 1,880 shares during the last quarter. BNP Paribas Financial Markets increased its holdings 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 period. Finally, Smartleaf Asset Management LLC increased its holdings 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 period. 83.08% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Matthews International in a report on Monday. Wall Street Zen downgraded shares of Matthews International from a “hold” rating to a “sell” rating in a report on Saturday. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Reduce”.

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.