Matthews International (NASDAQ:MATW) Share Price Passes Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Matthews International's stock crossed above its 200-day moving average, trading as high as $27.01 and last at $26.69 on volume of 140,401 shares (200‑day MA = $25.45).
• The company missed quarterly EPS (reported -$0.19 vs. $0.05 expected) and shows slim profitability (net margin 1.64%, ROE 5.95%) while carrying a market cap of $830.8M and a P/E of 37.59.
• Analysts recently moved ratings up to Hold (Zacks, Weiss) and institutional ownership is high at 83.08% with several firms increasing stakes; the stock pays a 3.8% yield but has a concerning payout ratio of 143.66%.

Matthews International Corporation (NASDAQ:MATW - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $25.45 and traded as high as $27.01. Matthews International shares last traded at $26.69, with a volume of 140,401 shares.

Wall Street Analysts Forecast Growth

MATW has been the subject of several recent analyst reports. Zacks Research raised Matthews International from a "strong sell" rating to a "hold" rating in a report on Monday, April 6th. Weiss Ratings raised Matthews International from a "sell (d)" rating to a "hold (c)" rating in a report on Friday, February 6th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of "Hold".

Matthews International Trading Down 1.1%

The company has a market cap of $830.75 million, a price-to-earnings ratio of 37.59 and a beta of 1.12. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.91 and a current ratio of 1.51. The firm has a fifty day moving average price of $25.89 and a 200 day moving average price of $25.45.

Matthews International (NASDAQ:MATW - Get Free Report) last released its quarterly earnings data on Wednesday, February 4th. The company reported ($0.19) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.24). The company had revenue of $284.76 million during the quarter, compared to analyst estimates of $282.50 million. Matthews International had a net margin of 1.64% and a return on equity of 5.95%. As a group, equities analysts predict that Matthews International Corporation will post 1.73 EPS for the current fiscal year.

Matthews International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 23rd. Stockholders of record on Monday, February 9th were issued a $0.255 dividend. This represents a $1.02 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend was Monday, February 9th. Matthews International's dividend payout ratio is presently 143.66%.

Institutional Investors Weigh In On Matthews International

A number of large investors have recently added to or reduced their stakes in the business. Hsbc Holdings PLC bought a new stake in Matthews International in the 4th quarter valued at $603,000. Forty three Eighteen Advisors LLC bought a new stake in Matthews International in the 4th quarter valued at $1,583,000. Invesco Ltd. raised its stake in Matthews International by 63.8% in the 4th quarter. Invesco Ltd. now owns 307,881 shares of the company's stock valued at $8,042,000 after acquiring an additional 119,932 shares during the period. XTX Topco Ltd bought a new stake in Matthews International in the 4th quarter valued at $555,000. Finally, Private Capital Management LLC raised its stake in Matthews International by 201.1% in the 4th quarter. Private Capital Management LLC now owns 1,018,587 shares of the company's stock valued at $26,605,000 after acquiring an additional 680,256 shares during the period. Institutional investors own 83.08% of the company's stock.

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.

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