Matthews International (NASDAQ:MATW) Shares Pass Above Two Hundred Day Moving Average - Here's What Happened

Matthews International Corporation (NASDAQ:MATW - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $23.82 and traded as high as $24.89. Matthews International shares last traded at $24.85, with a volume of 143,936 shares traded.

Matthews International Price Performance

The company has a debt-to-equity ratio of 2.00, a current ratio of 1.59 and a quick ratio of 1.09. The stock has a 50 day moving average price of $22.11 and a 200-day moving average price of $23.73. The stock has a market capitalization of $787.96 million, a price-to-earnings ratio of -9.96 and a beta of 1.27.

Matthews International (NASDAQ:MATW - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The company reported $0.34 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.36 by ($0.02). The firm had revenue of $427.63 million during the quarter, compared to analyst estimates of $435.62 million. Matthews International had a positive return on equity of 11.04% and a negative net margin of 4.62%. On average, analysts forecast that Matthews International Corporation will post 1.73 earnings per share for the current year.

Matthews International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, May 26th. Stockholders of record on Monday, May 12th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.94%. The ex-dividend date of this dividend was Monday, May 12th. Matthews International's dividend payout ratio is presently -39.22%.

Institutional Trading of Matthews International

A number of institutional investors have recently made changes to their positions in MATW. Quadrant Capital Group LLC boosted its stake in Matthews International by 551.8% during the fourth quarter. Quadrant Capital Group LLC now owns 906 shares of the company's stock worth $25,000 after buying an additional 767 shares during the last quarter. Sterling Capital Management LLC boosted its stake in Matthews International by 797.2% during the fourth quarter. Sterling Capital Management LLC now owns 951 shares of the company's stock worth $26,000 after buying an additional 845 shares during the last quarter. Central Pacific Bank Trust Division acquired a new position in Matthews International during the first quarter worth $149,000. AlphaQuest LLC acquired a new position in Matthews International during the fourth quarter worth $154,000. Finally, KLP Kapitalforvaltning AS acquired a new position in Matthews International during the fourth quarter worth $155,000. 83.08% of the stock is owned by institutional investors and hedge funds.

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.