Matthews International (NASDAQ:MATW) Hits New 1-Year Low at $26.02

Shares of Matthews International Co. (NASDAQ:MATW - Get Free Report) hit a new 52-week low on Tuesday . The stock traded as low as $26.02 and last traded at $26.22, with a volume of 4359 shares trading hands. The stock had previously closed at $26.63.

Wall Street Analysts Forecast Growth

Several brokerages have commented on MATW. StockNews.com cut shares of Matthews International from a "buy" rating to a "hold" rating in a research report on Friday, February 9th. B. Riley cut their target price on shares of Matthews International from $61.00 to $59.00 and set a "buy" rating for the company in a research note on Monday, February 5th.

Matthews International Stock Down 1.8 %

The company has a market capitalization of $802.59 million, a price-to-earnings ratio of 24.68 and a beta of 1.12. The company has a quick ratio of 1.15, a current ratio of 1.88 and a debt-to-equity ratio of 1.69. The business has a 50-day moving average price of $28.73 and a 200-day moving average price of $33.35.

Matthews International (NASDAQ:MATW - Get Free Report) last announced its earnings results on Thursday, February 1st. The company reported $0.37 EPS for the quarter, meeting the consensus estimate of $0.37. Matthews International had a return on equity of 16.44% and a net margin of 1.77%. The business had revenue of $449.99 million during the quarter, compared to the consensus estimate of $437.77 million. As a group, equities analysts anticipate that Matthews International Co. will post 2.66 earnings per share for the current fiscal year.

Matthews International Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, February 19th. Stockholders of record on Monday, February 5th were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 3.67%. This is an increase from Matthews International's previous quarterly dividend of $0.13. The ex-dividend date was Friday, February 2nd. Matthews International's dividend payout ratio is currently 90.57%.

Institutional Investors Weigh In On Matthews International

Several hedge funds have recently bought and sold shares of MATW. US Bancorp DE increased its position in Matthews International by 92.3% in the 1st quarter. US Bancorp DE now owns 854 shares of the company's stock worth $28,000 after purchasing an additional 410 shares during the last quarter. Tower Research Capital LLC TRC increased its position in Matthews International by 97.7% in the 1st quarter. Tower Research Capital LLC TRC now owns 858 shares of the company's stock worth $31,000 after purchasing an additional 424 shares during the last quarter. Cruiser Capital Advisors LLC acquired a new position in Matthews International in the 1st quarter worth about $32,000. Covestor Ltd increased its position in Matthews International by 15,914.3% in the 3rd quarter. Covestor Ltd now owns 1,121 shares of the company's stock worth $43,000 after purchasing an additional 1,114 shares during the last quarter. Finally, Lazard Asset Management LLC acquired a new position in Matthews International in the 2nd quarter worth about $55,000. 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.