Matthews International (NASDAQ:MATW) Shares Down 2.8%

Matthews International Co. (NASDAQ:MATW)’s stock price was down 2.8% during mid-day trading on Tuesday . The stock traded as low as $23.83 and last traded at $23.87. Approximately 13,842 shares changed hands during trading, a decline of 91% from the average daily volume of 147,136 shares. The stock had previously closed at $24.57.

Matthews International Stock Down 0.7 %

The firm has a market cap of $749.32 million, a price-to-earnings ratio of 23.03 and a beta of 1.11. The company has a current ratio of 1.82, a quick ratio of 1.12 and a debt-to-equity ratio of 1.64. The firm has a 50 day moving average price of $27.70 and a 200-day moving average price of $30.52.

Matthews International (NASDAQ:MATW) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.24. The business had revenue of $471.22 million during the quarter, compared to the consensus estimate of $469.38 million. Matthews International had a return on equity of 16.75% and a net margin of 1.77%. On average, equities analysts forecast that Matthews International Co. will post 2.53 EPS for the current year.

Matthews International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Monday, May 6th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date was Friday, May 3rd. Matthews International’s dividend payout ratio is presently 90.57%.

Institutional Trading of Matthews International

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Texas Permanent School Fund Corp increased its position in Matthews International by 2.0% during the 1st quarter. Texas Permanent School Fund Corp now owns 26,853 shares of the company’s stock worth $835,000 after purchasing an additional 533 shares in the last quarter. Swiss National Bank grew its holdings in Matthews International by 1.0% in the 3rd quarter. Swiss National Bank now owns 63,596 shares of the company’s stock valued at $2,475,000 after buying an additional 600 shares during the period. New York State Teachers Retirement System grew its holdings in Matthews International by 1.2% in the 4th quarter. New York State Teachers Retirement System now owns 63,068 shares of the company’s stock valued at $2,311,000 after buying an additional 735 shares during the period. Victory Capital Management Inc. grew its holdings in Matthews International by 15.7% in the 4th quarter. Victory Capital Management Inc. now owns 6,027 shares of the company’s stock valued at $221,000 after buying an additional 816 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Matthews International by 17.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,841 shares of the company’s stock valued at $214,000 after buying an additional 879 shares during the period. Hedge funds and other institutional investors own 83.08% of the company’s stock.

Matthews International Company Profile

Matthews International Corporation provides brand solutions, memorialization products, and industrial technologies worldwide. It operates through three segments: Memorialization, Industrial Technologies, and SGK Brand Solutions. The Memorialization segment provides bronze and granite memorials, upright granite memorials and monuments, concrete burial vaults, cremation memorialization products, granite benches, flower vases, crypt plates and letters, cremation urns, niche units, cemetery features, and statues, as well as bronze plaques, letters, emblems, vases, lights and photo ceramics, granite monuments, mausoleums, crypts, and flush memorials.