Matthews International (NASDAQ:MATW) Upgraded to “Hold” at Zacks Research
by Sarita Garza · The Markets DailyZacks Research upgraded shares of Matthews International (NASDAQ:MATW – Free Report) from a strong sell rating to a hold rating in a report issued on Monday morning,Zacks.com reports.
Separately, Weiss Ratings raised Matthews International from a “sell (d)” rating to a “hold (c)” rating in a research report on Friday, February 6th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Matthews International presently has a consensus rating of “Hold”.
View Our Latest Analysis on Matthews International
Matthews International Stock Up 1.1%
Shares of Matthews International stock opened at $25.88 on Monday. The company has a current ratio of 1.51, a quick ratio of 0.91 and a debt-to-equity ratio of 0.98. The business’s 50 day simple moving average is $25.81 and its 200-day simple moving average is $25.36. The stock has a market capitalization of $805.64 million, a price-to-earnings ratio of 36.45 and a beta of 1.12. Matthews International has a twelve month low of $18.60 and a twelve month high of $29.11.
Matthews International (NASDAQ:MATW – Get Free Report) last announced its quarterly earnings results on Wednesday, February 4th. The company reported ($0.19) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.24). Matthews International had a return on equity of 5.95% and a net margin of 1.64%.The company had revenue of $284.76 million for the quarter, compared to analyst estimates of $282.50 million. Equities research analysts forecast that Matthews International will post 1.73 earnings per share for the current year.
Matthews International Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, February 23rd. Shareholders of record on Monday, February 9th were given a $0.255 dividend. The ex-dividend date of this dividend was Monday, February 9th. This represents a $1.02 annualized dividend and a yield of 3.9%. Matthews International’s dividend payout ratio (DPR) is currently 143.66%.
Institutional Inflows and Outflows
Large investors have recently modified their holdings of the business. US Bancorp DE increased its holdings in shares of Matthews International by 45.9% during the third quarter. US Bancorp DE now owns 2,063 shares of the company’s stock valued at $50,000 after purchasing an additional 649 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Matthews International during the third quarter valued at $59,000. Potomac Capital Management Inc. acquired a new position in shares of Matthews International during the fourth quarter valued at $59,000. Tower Research Capital LLC TRC increased its holdings in shares of Matthews International by 187.1% during the second quarter. Tower Research Capital LLC TRC now owns 2,885 shares of the company’s stock valued at $69,000 after purchasing an additional 1,880 shares during the period. Finally, Tripletail Wealth Management LLC increased its holdings in shares of Matthews International by 206.5% during the fourth quarter. Tripletail Wealth Management LLC now owns 2,820 shares of the company’s stock valued at $73,000 after purchasing an additional 1,900 shares during the period. 83.08% of the stock is 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.