Matthews International Corporation (NASDAQ:MATW) Sees Significant Growth in Short Interest

Matthews International Corporation (NASDAQ:MATW) saw a significant increase in short interest during the month of December. As of December 15th, there was short interest totaling 2,792,325 shares, an increase of 32.8% from the November 30th total of 2,102,633 shares. Based on an average trading volume of 286,238 shares, the short-interest ratio is currently 9.8 days. Currently, 9.5% of the shares of the stock are sold short. Currently, 9.5% of the shares of the stock are sold short. Based on an average trading volume of 286,238 shares, the short-interest ratio is currently 9.8 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Matthews International in a research note on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has a consensus rating of “Sell”.

Matthews International Stock Down 1.1%

MATW stock traded down $0.29 during mid-day trading on Tuesday, hitting $26.47. 108,939 shares of the company were exchanged, compared to its average volume of 283,328. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.91 and a current ratio of 1.48. Matthews International has a 1-year low of $18.50 and a 1-year high of $32.00. The firm’s 50 day simple moving average is $24.93 and its 200 day simple moving average is $24.38. The firm has a market cap of $815.28 million, a P/E ratio of -33.51 and a beta of 1.20.

Matthews International (NASDAQ:MATW) last issued its quarterly earnings results on Friday, November 21st. The company reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.28. The company had revenue of $318.84 million for the quarter, compared to analyst estimates of $290.79 million. Matthews International had a positive return on equity of 8.65% and a negative net margin of 1.63%. On average, sell-side analysts predict that Matthews International will post 1.73 EPS for the current fiscal year.

Matthews International Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were paid a $0.255 dividend. This is an increase from Matthews International’s previous quarterly dividend of $0.25. The ex-dividend date was Monday, December 1st. This represents a $1.02 annualized dividend and a yield of 3.9%. Matthews International’s dividend payout ratio (DPR) is -129.11%.

Institutional Trading of Matthews International

Several hedge funds and other institutional investors have recently modified their holdings of MATW. GAMMA Investing LLC increased its position in Matthews International by 55.1% during the 2nd quarter. GAMMA Investing LLC now owns 1,687 shares of the company’s stock worth $40,000 after buying an additional 599 shares during the period. US Bancorp DE lifted its holdings in shares of Matthews International by 45.9% in 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 last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in Matthews International in the third quarter valued at approximately $59,000. Tower Research Capital LLC TRC boosted its holdings in shares of Matthews International by 187.1% during the 2nd 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 in the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in shares of Matthews International by 51.6% during the second quarter. BNP Paribas Financial Markets now owns 3,080 shares of the company’s stock valued at $74,000 after purchasing an additional 1,048 shares in the last quarter. Institutional investors own 83.08% of the company’s stock.

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.