Matthews International (NASDAQ:MATW) Releases Earnings Results, Misses Expectations By $0.05 EPS

Key Points

• Matthews International reported a quarterly earnings per share (EPS) of $0.28, which was $0.05 below analysts' expectations of $0.33.
• The company declared a $0.25 quarterly dividend, reflecting an annual yield of 4.2%, with the ex-dividend date set for August 11.
• Matthews International's stock experienced a 3.9% increase, trading at $24.07 amid higher trading volume than its average.

Matthews International (NASDAQ:MATW - Get Free Report) released its quarterly earnings results on Tuesday. The company reported $0.28 EPS for the quarter, missing analysts' consensus estimates of $0.33 by ($0.05), Zacks reports. The company had revenue of $349.40 million during the quarter, compared to analysts' expectations of $321.95 million. Matthews International had a negative net margin of 4.01% and a positive return on equity of 9.66%.

Matthews International Stock Down 5.5%

NASDAQ MATW traded down $1.39 on Thursday, reaching $23.73. The company had a trading volume of 353,947 shares, compared to its average volume of 243,611. Matthews International has a 52-week low of $18.50 and a 52-week high of $32.24. The stock has a market capitalization of $735.87 million, a P/E ratio of -11.19 and a beta of 1.24. The company's fifty day moving average is $23.53 and its 200 day moving average is $23.22. The company has a quick ratio of 1.09, a current ratio of 1.59 and a debt-to-equity ratio of 2.00.

Matthews International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 25th. Investors of record on Monday, August 11th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend is Monday, August 11th. Matthews International's dividend payout ratio is presently -39.22%.

Institutional Investors Weigh In On Matthews International

Several large investors have recently made changes to their positions in MATW. Jane Street Group LLC bought a new position in Matthews International in the 1st quarter worth about $1,227,000. Intech Investment Management LLC boosted its stake in Matthews International by 316.4% in the 1st quarter. Intech Investment Management LLC now owns 59,502 shares of the company's stock worth $1,323,000 after purchasing an additional 45,212 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Matthews International by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,686 shares of the company's stock worth $393,000 after purchasing an additional 780 shares during the period. 83.08% of the stock is owned by hedge funds and other institutional investors.

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.