Matthews International (NASDAQ:MATW) Shares Gap Down – Here’s Why

Matthews International Corporation (NASDAQ:MATW)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $28.69, but opened at $26.84. Matthews International shares last traded at $26.1650, with a volume of 9,887 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Matthews International in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average rating of “Sell”.

Matthews International Stock Down 4.7%

The firm has a market cap of $802.70 million, a price-to-earnings ratio of -33.00 and a beta of 1.18. The company has a debt-to-equity ratio of 1.46, a quick ratio of 0.91 and a current ratio of 1.48. The business’s 50 day moving average price is $26.03 and its 200 day moving average price is $24.82.

Matthews International (NASDAQ:MATW) last issued its quarterly earnings data on Friday, November 21st. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.28. Matthews International had a negative net margin of 1.63% and a positive return on equity of 8.65%. The business had revenue of $318.84 million during the quarter, compared to the consensus estimate of $290.79 million. On average, equities analysts forecast that Matthews International Corporation will post 1.73 EPS for the current year.

Matthews International Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were given a dividend of $0.255 per share. This is a boost from Matthews International’s previous quarterly dividend of $0.25. This represents a $1.02 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date was Monday, December 1st. Matthews International’s dividend payout ratio (DPR) is currently -129.11%.

Institutional Trading of Matthews International

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC lifted its stake in Matthews International by 2.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,075,479 shares of the company’s stock valued at $27,887,000 after buying an additional 22,046 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of Matthews International by 54.9% during the fourth quarter. SG Americas Securities LLC now owns 15,367 shares of the company’s stock valued at $401,000 after acquiring an additional 5,447 shares during the last quarter. Private Capital Management LLC purchased a new position in shares of Matthews International in the third quarter valued at approximately $8,215,000. Prelude Capital Management LLC lifted its position in shares of Matthews International by 86.6% in the third quarter. Prelude Capital Management LLC now owns 93,643 shares of the company’s stock valued at $2,274,000 after acquiring an additional 43,461 shares in the last quarter. Finally, Millennium Management LLC acquired a new stake in shares of Matthews International in the third quarter worth approximately $871,000. Hedge funds and other institutional investors 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.