Matthews International (NASDAQ:MATW) Cut to Sell at Wall Street Zen

Wall Street Zen downgraded shares of Matthews International (NASDAQ:MATW) from a hold rating to a sell rating in a research report report published on Saturday morning.

Separately, Weiss Ratings restated a “sell (d+)” rating on shares of Matthews International in a research note on Monday, August 3rd. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Matthews International presently has a consensus rating of “Reduce”.

Matthews International Stock Down 3.0%

MATW opened at $22.98 on Friday. The company has a market capitalization of $716.98 million, a PE ratio of -24.71 and a beta of 1.09. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.76 and a quick ratio of 1.02. Matthews International has a fifty-two week low of $21.95 and a fifty-two week high of $30.93. The business has a 50-day moving average of $26.66 and a 200-day moving average of $26.55.

Matthews International (NASDAQ:MATW) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.35). The firm had revenue of $246.02 million during the quarter, compared to analyst estimates of $264.54 million. Matthews International had a positive return on equity of 4.51% and a negative net margin of 2.65%. Equities research analysts forecast that Matthews International will post 1.09 EPS for the current fiscal year.

Matthews International Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, August 10th will be issued a dividend of $0.255 per share. This represents a $1.02 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date is Monday, August 10th. Matthews International’s dividend payout ratio is -109.68%.

Hedge Funds Weigh In On Matthews International

Several large investors have recently made changes to their positions in the business. Steel Partners Holdings L.P. bought a new position in Matthews International in the 4th quarter worth approximately $20,084,000. Private Capital Management LLC grew its stake in shares of 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 acquiring an additional 680,256 shares during the last quarter. Simcoe Capital Management LLC bought a new position in Matthews International during the fourth quarter worth $8,763,000. Cannell Capital LLC acquired a new position in Matthews International during the 2nd quarter valued at $5,926,000. Finally, Focus Partners Wealth acquired a new position in Matthews International during the 4th quarter valued at $5,242,000. Institutional investors and hedge funds own 83.08% of the company’s stock.

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.