Matthews International (NASDAQ:MATW) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

Matthews International Corporation (NASDAQ:MATW)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $25.45 and traded as high as $27.01. Matthews International shares last traded at $26.69, with a volume of 140,401 shares traded.

Analyst Ratings Changes

MATW has been the topic of several analyst reports. Weiss Ratings raised shares of Matthews International from a “sell (d)” rating to a “hold (c)” rating in a research report on Friday, February 6th. Zacks Research raised shares of Matthews International from a “strong sell” rating to a “hold” rating in a research report on Monday, April 6th. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, Matthews International currently has a consensus rating of “Hold”.

Matthews International Price Performance

The stock’s 50-day moving average is $25.90 and its 200 day moving average is $25.49. The stock has a market capitalization of $857.32 million, a PE ratio of 38.79 and a beta of 1.12. 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 (NASDAQ:MATW) last announced its quarterly earnings data on Wednesday, February 4th. The company reported ($0.19) EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.24). Matthews International had a net margin of 1.64% and a return on equity of 5.95%. The company had revenue of $284.76 million for the quarter, compared to analysts’ expectations of $282.50 million. As a group, equities analysts predict that Matthews International Corporation will post 1.73 earnings per share for the current year.

Matthews International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, February 23rd. Shareholders of record on Monday, February 9th were paid a $0.255 dividend. The ex-dividend date was Monday, February 9th. This represents a $1.02 dividend on an annualized basis and a yield of 3.7%. Matthews International’s payout ratio is 143.66%.

Institutional Trading of Matthews International

A number of institutional investors have recently added to or reduced their stakes in MATW. US Bancorp DE lifted its stake in Matthews International by 45.9% in the third quarter. US Bancorp DE now owns 2,063 shares of the company’s stock valued at $50,000 after acquiring an additional 649 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in Matthews International in the third quarter valued at approximately $59,000. Potomac Capital Management Inc. acquired a new stake in Matthews International in the fourth quarter valued at approximately $59,000. Tower Research Capital LLC TRC lifted its stake in Matthews International by 187.1% in the second quarter. Tower Research Capital LLC TRC now owns 2,885 shares of the company’s stock valued at $69,000 after acquiring an additional 1,880 shares during the last quarter. Finally, Tripletail Wealth Management LLC lifted its stake in Matthews International by 206.5% in the fourth quarter. Tripletail Wealth Management LLC now owns 2,820 shares of the company’s stock valued at $73,000 after acquiring an additional 1,900 shares during the last quarter. 83.08% of the stock is currently owned by institutional investors and hedge funds.

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.