Matthews International (NASDAQ:MATW) Reaches New 1-Year Low – Should You Sell?

Matthews International Corporation (NASDAQ:MATW) shares hit a new 52-week low during trading on Monday . The company traded as low as $19.51 and last traded at $20.5880, with a volume of 6350829 shares changing hands. The stock had previously closed at $20.48.

Analysts Set New Price Targets

MATW has been the topic of a number of recent analyst reports. Wall Street Zen lowered Matthews International from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Weiss Ratings lowered Matthews International from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, August 17th. Zacks Research downgraded shares of Matthews International from a “hold” rating to a “strong sell” rating in a report on Monday, August 10th. Finally, Truist Financial began coverage on shares of Matthews International in a report on Friday, August 21st. They issued a “hold” rating and a $24.00 price target on the stock. One analyst has rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Sell” and an average price target of $24.00.

Matthews International Price Performance

The company has a current ratio of 1.76, a quick ratio of 1.02 and a debt-to-equity ratio of 1.15. The business has a 50-day moving average price of $23.75 and a 200 day moving average price of $25.49. The stock has a market cap of $628.73 million, a PE ratio of -21.73 and a beta of 1.04.

Matthews International (NASDAQ:MATW) last announced its quarterly earnings data 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. As a group, research 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 declared a quarterly dividend, which was paid on Monday, August 24th. Investors of record on Monday, August 10th were paid a dividend of $0.255 per share. This represents a $1.02 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date was Monday, August 10th. Matthews International’s dividend payout ratio is presently -109.68%.

Insider Buying and Selling

In other Matthews International news, Director Aleta Richards bought 3,000 shares of the stock in a transaction on Friday, August 14th. The shares were acquired at an average price of $23.06 per share, with a total value of $69,180.00. Following the acquisition, the director directly owned 12,535 shares of the company’s stock, valued at $289,057.10. The trade was a 31.46% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director J Nauman bought 2,000 shares of the stock in a transaction 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 acquisition, the director directly owned 7,081 shares in the company, valued at approximately $162,650.57. This trade represents a 39.36% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders purchased a total of 8,900 shares of company stock valued at $197,914 over the last quarter. 4.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Matthews International

A number of large investors have recently modified their holdings of MATW. Tidal Investments LLC purchased a new position in Matthews International during the second quarter worth about $786,000. Squarepoint Ops LLC bought a new stake in shares of Matthews International during the 2nd quarter valued at about $616,000. Public Employees Retirement System of Ohio bought a new stake in Matthews International during the second quarter valued at approximately $38,000. Amundi bought a new position in shares of Matthews International in the 1st quarter worth $287,000. Finally, Quantinno Capital Management LP raised its position in shares of Matthews International by 37.9% during the 1st quarter. Quantinno Capital Management LP now owns 12,612 shares of the company’s stock valued at $326,000 after buying an additional 3,468 shares in the last quarter. 83.08% of the stock is currently owned by institutional investors.

About Matthews International

Matthews International Corporation (NASDAQ:MATW) is a global provider of products and services for memorialization, industrial automation and identification, and brand development. Founded in Pittsburgh in 1850, the company has built a diverse portfolio serving funeral homes, cemeteries, manufacturers, consumer brands, and other commercial customers.

Through its Memorialization businesses, Matthews supplies products and services used in burial and cremation, including mausoleums, cremation systems, caskets, urns, bronze memorials, cemetery products, and related software and operational services.