Matthews International (NASDAQ:MATW) Reaches New 52-Week Low at $27.62

Matthews International Co. (NASDAQ:MATWGet Rating)’s stock price hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $27.62 and last traded at $28.20, with a volume of 121078 shares. The stock had previously closed at $27.94.

Separately, StockNews.com assumed coverage on Matthews International in a report on Thursday, March 31st. They set a “buy” rating for the company.

The firm’s fifty day moving average price is $30.57 and its 200 day moving average price is $33.06. The company has a quick ratio of 1.21, a current ratio of 1.81 and a debt-to-equity ratio of 1.19.

Matthews International (NASDAQ:MATWGet Rating) last posted its quarterly earnings results on Thursday, April 28th. The company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.70 by $0.04. The company had revenue of $444.98 million for the quarter, compared to analyst estimates of $430.82 million. Matthews International had a negative net margin of 1.26% and a positive return on equity of 16.01%. During the same period in the prior year, the company earned $0.89 earnings per share. As a group, sell-side analysts predict that Matthews International Co. will post 2.99 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, May 23rd. Investors of record on Monday, May 9th were given a dividend of $0.22 per share. This is a boost from Matthews International’s previous quarterly dividend of $0.13. This represents a $0.88 annualized dividend and a yield of 3.09%. The ex-dividend date of this dividend was Friday, May 6th. Matthews International’s dividend payout ratio (DPR) is currently -125.71%.

Several large investors have recently bought and sold shares of the company. US Bancorp DE lifted its stake in shares of Matthews International by 92.3% in the 1st quarter. US Bancorp DE now owns 854 shares of the company’s stock valued at $28,000 after purchasing an additional 410 shares during the period. Cruiser Capital Advisors LLC acquired a new position in shares of Matthews International in the first quarter worth about $32,000. US Asset Management LLC purchased a new stake in shares of Matthews International during the 1st quarter worth about $45,000. Federated Hermes Inc. grew its position in shares of Matthews International by 728.5% during the 1st quarter. Federated Hermes Inc. now owns 1,715 shares of the company’s stock valued at $55,000 after acquiring an additional 1,508 shares during the period. Finally, Captrust Financial Advisors increased its stake in shares of Matthews International by 196.8% in the 1st quarter. Captrust Financial Advisors now owns 1,739 shares of the company’s stock valued at $56,000 after purchasing an additional 1,153 shares in the last quarter. 80.83% of the stock is owned by hedge funds and other institutional investors.

Matthews International Company Profile (NASDAQ:MATW)

Matthews International Corporation provides brand solutions, memorialization products, and industrial technologies worldwide. It operates through three segments: SGK Brand Solutions, Memorialization, and Industrial Technologies. The SGK Brand solutions segment provides brand management, pre-media services, printing plates and cylinders, engineered products, imaging services, digital asset management, merchandising display systems, and marketing and design services for the consumer goods and retail industries.

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