Matthews International (NASDAQ:MATW) Sets New 12-Month Low – Time to Sell?

Matthews International Corporation (NASDAQ:MATW) hit a new 52-week low on Wednesday . The company traded as low as $20.13 and last traded at $20.3510, with a volume of 37721 shares changing hands. The stock had previously closed at $20.39.

Wall Street Analysts Forecast Growth

MATW has been the subject of several research reports. Wall Street Zen lowered Matthews International from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Truist Financial initiated coverage on shares of Matthews International in a report on Friday, August 21st. They issued a “hold” rating and a $24.00 price objective for the company. Weiss Ratings lowered shares of Matthews International from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, August 17th. Finally, Zacks Research cut Matthews International from a “hold” rating to a “strong sell” rating in a report on Monday, August 10th. One investment analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Sell” and a consensus target price of $24.00.

Matthews International Price Performance

The stock has a market cap of $636.75 million, a P/E ratio of -21.95 and a beta of 1.04. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.02 and a current ratio of 1.76. The firm has a 50-day moving average price of $24.80 and a 200-day moving average price of $25.85.

Matthews International (NASDAQ:MATW) last issued its quarterly earnings results on Friday, August 7th. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.35). Matthews International had a positive return on equity of 4.51% and a negative net margin of 2.65%.The firm had revenue of $246.02 million during the quarter, compared to analysts’ expectations of $264.54 million. On average, analysts forecast that Matthews International Corporation will post 0.53 earnings per share for the current fiscal year.

Matthews International Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 24th. Investors of record on Monday, August 10th were given a $0.255 dividend. The ex-dividend date of this dividend was Monday, August 10th. This represents a $1.02 annualized dividend and a yield of 5.0%. Matthews International’s dividend payout ratio is -109.68%.

Insider Buying and Selling at Matthews International

In other Matthews International news, Director Aleta Richards purchased 3,000 shares of the stock in a transaction dated Friday, August 14th. The shares were purchased at an average cost of $23.06 per share, with a total value of $69,180.00. Following the completion of the acquisition, the director directly owned 12,535 shares in the company, valued at $289,057.10. This trade represents a 31.46% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director J Nauman acquired 2,000 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The shares were acquired at an average cost of $22.97 per share, for a total transaction of $45,940.00. Following the completion of the transaction, the director directly owned 7,081 shares of the company’s stock, valued at $162,650.57. The trade was a 39.36% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders bought 7,900 shares of company stock valued at $177,924 in the last 90 days. Company insiders own 4.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Steel Partners Holdings L.P. bought a new stake in shares of Matthews International during the 4th quarter valued at $20,084,000. California State Teachers Retirement System grew its holdings in Matthews International by 2,813.7% during the second quarter. California State Teachers Retirement System now owns 777,100 shares of the company’s stock valued at $20,920,000 after purchasing an additional 750,429 shares during the period. Private Capital Management LLC increased its position in 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 buying an additional 680,256 shares in the last quarter. Simcoe Capital Management LLC purchased a new position in shares of Matthews International during the 4th quarter valued at about $8,763,000. Finally, Cannell Capital LLC bought a new position in shares of Matthews International during the 2nd quarter valued at approximately $5,926,000. 83.08% of the stock is currently owned by institutional investors.

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.