Matthews International (NASDAQ:MATW) Reaches New 12-Month Low at $27.62

Matthews International Co. (NASDAQ:MATWGet Rating)’s stock price hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $27.62 and last traded at $28.20, with a volume of 121078 shares traded. The stock had previously closed at $27.94.

Separately, StockNews.com began coverage on Matthews International in a research note on Thursday, March 31st. They issued a “buy” rating for the company.

The firm’s 50-day moving average is $30.57 and its 200-day moving average is $33.06. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.21 and a current ratio of 1.81.

Matthews International (NASDAQ:MATWGet Rating) last posted its quarterly earnings data on Thursday, April 28th. The company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.04. The company had revenue of $444.98 million during the quarter, compared to analyst estimates of $430.82 million. Matthews International had a positive return on equity of 16.01% and a negative net margin of 1.26%. During the same quarter last year, the company earned $0.89 EPS. As a group, research analysts forecast that Matthews International Co. will post 2.99 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, May 23rd. Investors of record on Monday, May 9th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 3.09%. This is a positive change from Matthews International’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Friday, May 6th. Matthews International’s payout ratio is -125.71%.

Several large investors have recently made changes to their positions in MATW. ProShare Advisors LLC grew its stake in Matthews International by 3.6% during the fourth quarter. ProShare Advisors LLC now owns 269,361 shares of the company’s stock valued at $9,876,000 after acquiring an additional 9,377 shares in the last quarter. NorthCrest Asset Manangement LLC bought a new stake in Matthews International in the fourth quarter worth about $1,071,000. New York State Teachers Retirement System boosted its position in shares of Matthews International by 1.3% during the fourth quarter. New York State Teachers Retirement System now owns 64,658 shares of the company’s stock valued at $2,371,000 after buying an additional 854 shares during the period. Palisade Capital Management LLC NJ grew its stake in shares of Matthews International by 0.6% during the fourth quarter. Palisade Capital Management LLC NJ now owns 509,299 shares of the company’s stock valued at $18,676,000 after buying an additional 2,851 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new stake in shares of Matthews International in the fourth quarter worth approximately $15,934,000. Institutional investors own 80.83% of the company’s stock.

About Matthews International (NASDAQ:MATW)

Matthews International Corporation provides brand solutions, memorialization products, and industrial technologies worldwide. It operates through three segments: SGK Brand Solutions, Memorialization, and Industrial Technologies. The SGK Brand solutions segment provides brand management, pre-media services, printing plates and cylinders, engineered products, imaging services, digital asset management, merchandising display systems, and marketing and design services for the consumer goods and retail industries.

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