Matthews International (NASDAQ:MATW) Shares Gap Down – Time to Sell?

by · The Markets Daily

Matthews International Corporation (NASDAQ:MATWGet Free Report)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $28.69, but opened at $26.84. Matthews International shares last traded at $26.1650, with a volume of 9,887 shares traded.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d)” rating on shares of Matthews International in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of “Sell”.

View Our Latest Research Report on Matthews International

Matthews International Stock Down 4.7%

The company has a debt-to-equity ratio of 1.46, a current ratio of 1.48 and a quick ratio of 0.91. The firm has a market cap of $802.70 million, a P/E ratio of -33.00 and a beta of 1.18. The stock’s 50 day simple moving average is $26.03 and its two-hundred day simple moving average is $24.82.

Matthews International (NASDAQ:MATWGet Free Report) last released its earnings results on Friday, November 21st. The company reported $0.50 EPS for the quarter, topping the consensus estimate of $0.22 by $0.28. The business had revenue of $318.84 million for the quarter, compared to the consensus estimate of $290.79 million. Matthews International had a positive return on equity of 8.65% and a negative net margin of 1.63%. As a group, research analysts forecast that Matthews International Corporation will post 1.73 earnings per share for the current year.

Matthews International Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were given a dividend of $0.255 per share. This represents a $1.02 dividend on an annualized basis and a yield of 3.9%. This is a boost from Matthews International’s previous quarterly dividend of $0.25. The ex-dividend date was Monday, December 1st. Matthews International’s dividend payout ratio (DPR) is currently -129.11%.

Institutional Investors Weigh In On Matthews International

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Quinn Opportunity Partners LLC grew its holdings in Matthews International by 4.4% during the 2nd quarter. Quinn Opportunity Partners LLC now owns 402,319 shares of the company’s stock valued at $9,619,000 after buying an additional 16,979 shares in the last quarter. Barington Capital Group L.P. grew its position in Matthews International by 14.3% in the second quarter. Barington Capital Group L.P. now owns 912,804 shares of the company’s stock worth $21,825,000 after acquiring an additional 114,187 shares in the last quarter. Gamco Investors INC. ET AL increased its position in shares of Matthews International by 11.0% during the 2nd quarter. Gamco Investors INC. ET AL now owns 1,386,045 shares of the company’s stock valued at $33,140,000 after purchasing an additional 137,189 shares during the last quarter. Grizzlyrock Capital LLC purchased a new stake in shares of Matthews International in the second quarter valued at $2,518,000. Finally, Kennedy Capital Management LLC purchased a new stake in Matthews International in the 2nd quarter worth about $2,384,000. 83.08% of the stock is currently owned by hedge funds and other institutional investors.

About Matthews International

(Get Free Report)

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.

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