Matthews International (NASDAQ:MATW) Stock Price Passes Above 200 Day Moving Average - What's Next?

Key Points

• Matthews International shares moved above their 200-day moving average, trading as high as $27.25 before last changing hands at $26.72. The stock was up about 1% on the session.
• Recent analyst updates have been mixed to bearish, with Weiss Ratings, Wall Street Zen, and Zacks Research issuing downgrades or lower ratings. MarketBeat data shows a consensus rating of “Reduce” for MATW.
• The company beat quarterly earnings expectations, reporting $0.37 EPS versus $0.17 expected and revenue of $258.62 million versus $253.65 million expected. Matthews also pays a quarterly dividend of $0.255 per share, equal to a 3.8% annualized yield.

Matthews International Corporation (NASDAQ:MATW - Get Free Report)'s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $26.53 and traded as high as $27.25. Matthews International shares last traded at $26.72, with a volume of 156,528 shares traded.

Analysts Set New Price Targets

Several research firms have recently weighed in on MATW. Weiss Ratings cut Matthews International from a "hold (c-)" rating to a "sell (d+)" rating in a report on Wednesday, May 6th. Zacks Research raised Matthews International from a "strong sell" rating to a "hold" rating in a research note on Monday, April 6th. Finally, Wall Street Zen downgraded shares of Matthews International from a "buy" rating to a "hold" rating in a report on Sunday, May 10th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Reduce".

Matthews International Stock Up 1.0%

The firm's 50 day simple moving average is $26.60 and its 200-day simple moving average is $26.53. The company has a current ratio of 1.64, a quick ratio of 0.97 and a debt-to-equity ratio of 1.12. The stock has a market capitalization of $833.66 million, a price-to-earnings ratio of 86.19 and a beta of 1.08.

Matthews International (NASDAQ:MATW - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.37 EPS for the quarter, topping analysts' consensus estimates of $0.17 by $0.20. The company had revenue of $258.62 million during the quarter, compared to the consensus estimate of $253.65 million. Matthews International had a net margin of 0.80% and a return on equity of 5.88%. Equities analysts expect that Matthews International Corporation will post 1.09 earnings per share for the current fiscal year.

Matthews International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, May 25th. Investors of record on Monday, May 11th were given a dividend of $0.255 per share. The ex-dividend date of this dividend was Monday, May 11th. This represents a $1.02 annualized dividend and a yield of 3.8%. Matthews International's dividend payout ratio is 329.03%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD increased its position in Matthews International by 0.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 81,127 shares of the company's stock worth $2,121,000 after buying an additional 606 shares during the period. US Bancorp DE lifted its holdings in shares of Matthews International by 45.9% during the third quarter. US Bancorp DE now owns 2,063 shares of the company's stock worth $50,000 after buying an additional 649 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in shares of Matthews International by 25.0% in the second quarter. Smartleaf Asset Management LLC now owns 3,445 shares of the company's stock valued at $84,000 after acquiring an additional 689 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Matthews International by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,686 shares of the company's stock valued at $393,000 after acquiring an additional 780 shares during the period. Finally, Illinois Municipal Retirement Fund grew its stake in shares of Matthews International by 5.2% in the first quarter. Illinois Municipal Retirement Fund now owns 15,969 shares of the company's stock valued at $412,000 after acquiring an additional 786 shares in the last quarter. 83.08% of the stock is currently owned by institutional investors.

Matthews International Company Profile

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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