Matthews International (NASDAQ:MATW) Downgraded by Zacks Research to “Strong Sell”

Matthews International (NASDAQ:MATW) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Monday,Zacks.com reports.

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Matthews International in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Sell rating, According to data from MarketBeat, the company currently has a consensus rating of “Sell”.

Matthews International Stock Down 4.2%

Shares of MATW stock opened at $26.21 on Monday. The stock has a market cap of $807.27 million, a P/E ratio of -33.18 and a beta of 1.18. Matthews International has a one year low of $18.50 and a one year high of $31.55. The stock has a fifty day moving average price of $26.08 and a 200 day moving average price of $24.82. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.48 and a quick ratio of 0.91.

Matthews International (NASDAQ:MATW) last announced its quarterly earnings results on Friday, November 21st. The company reported $0.50 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $318.84 million for the quarter, compared to analyst estimates of $290.79 million. Analysts predict that Matthews International will post 1.73 earnings per share for the current year.

Institutional Trading of Matthews International

Several large investors have recently added to or reduced their stakes in MATW. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Matthews International by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,686 shares of the company’s stock valued at $393,000 after acquiring an additional 780 shares during the last quarter. Jane Street Group LLC acquired a new position in Matthews International in the first quarter worth $1,227,000. Intech Investment Management LLC grew its holdings in shares of Matthews International by 316.4% during the first quarter. Intech Investment Management LLC now owns 59,502 shares of the company’s stock worth $1,323,000 after purchasing an additional 45,212 shares during the last quarter. GAMMA Investing LLC grew its holdings 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 acquiring an additional 599 shares during the last quarter. Finally, State of Alaska Department of Revenue grew its stake in shares of Matthews International by 7.2% during the second quarter. State of Alaska Department of Revenue now owns 18,403 shares of the company’s stock valued at $439,000 after purchasing an additional 1,243 shares during the last quarter. 83.08% of the stock is owned by institutional investors.

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.