Matthews International (NASDAQ:MATW) Sees Unusually-High Trading Volume – Should You Buy?

Matthews International Corporation (NASDAQ:MATW) saw unusually-high trading volume on Monday . Approximately 492,958 shares were traded during mid-day trading, an increase of 89% from the previous session’s volume of 260,550 shares.The stock last traded at $22.6580 and had previously closed at $23.70.

Analysts Set New Price Targets

A number of analysts recently commented on MATW shares. Wall Street Zen downgraded shares of Matthews International from a “hold” rating to a “sell” rating in a report on Saturday. Weiss Ratings reiterated a “sell (d+)” rating on shares of Matthews International in a research report on Monday, August 3rd. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Reduce”.

Matthews International Trading Down 3.8%

The firm has a market capitalization of $711.03 million, a PE ratio of -24.50 and a beta of 1.09. The company has a quick ratio of 1.02, a current ratio of 1.76 and a debt-to-equity ratio of 1.15. The business’s fifty day moving average price is $26.73 and its 200 day moving average price is $26.58.

Matthews International (NASDAQ:MATW) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.35). Matthews International had a negative net margin of 2.65% and a positive return on equity of 4.51%. The firm had revenue of $246.02 million for the quarter, compared to analysts’ expectations of $264.54 million. As a group, analysts expect that Matthews International Corporation will post 1.09 EPS for the current fiscal year.

Matthews International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, August 10th will be paid a dividend of $0.255 per share. This represents a $1.02 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend is Monday, August 10th. Matthews International’s dividend payout ratio is currently -109.68%.

Hedge Funds Weigh In On Matthews International

Several institutional investors have recently added to or reduced their stakes in MATW. Ameriprise Financial Inc. lifted its position in Matthews International by 9.0% during the second quarter. Ameriprise Financial Inc. now owns 1,664,426 shares of the company’s stock worth $39,796,000 after buying an additional 137,015 shares during the period. Dimensional Fund Advisors LP grew its holdings in Matthews International by 5.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,614,201 shares of the company’s stock valued at $41,677,000 after buying an additional 83,860 shares during the period. Gamco Investors INC. ET AL increased its stake in shares of Matthews International by 9.7% during the 4th quarter. Gamco Investors INC. ET AL now owns 1,554,105 shares of the company’s stock valued at $40,593,000 after acquiring an additional 136,794 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Matthews International by 2.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,100,957 shares of the company’s stock valued at $27,832,000 after acquiring an additional 25,478 shares during the last quarter. Finally, Private Capital Management LLC lifted its holdings in shares of Matthews International by 201.1% during the 4th quarter. Private Capital Management LLC now owns 1,018,587 shares of the company’s stock worth $26,605,000 after acquiring an additional 680,256 shares during the period. 83.08% of the stock is currently owned by institutional investors and hedge funds.

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.