Matthews International (NASDAQ:MATW) Stock Crosses Above 200 Day Moving Average – What’s Next?

Matthews International Corporation (NASDAQ:MATW)’s share price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $25.34 and traded as high as $25.41. Matthews International shares last traded at $25.27, with a volume of 164,543 shares.

Analyst Ratings Changes

Several equities research analysts have commented on MATW shares. Zacks Research downgraded shares of Matthews International from a “hold” rating to a “strong sell” rating in a research note on Monday, January 19th. Weiss Ratings raised shares of Matthews International from a “sell (d)” rating to a “hold (c)” rating in a research report on Friday, February 6th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce”.

Matthews International Stock Down 0.5%

The company has a market capitalization of $786.66 million, a P/E ratio of 35.59 and a beta of 1.16. The company has a quick ratio of 0.91, a current ratio of 1.51 and a debt-to-equity ratio of 0.98. The firm has a fifty day simple moving average of $26.04 and a 200-day simple moving average of $25.34.

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

Matthews International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, February 23rd. Shareholders of record on Monday, February 9th were paid a $0.255 dividend. The ex-dividend date of this dividend was Monday, February 9th. This represents a $1.02 dividend on an annualized basis and a yield of 4.0%. Matthews International’s payout ratio is presently 143.66%.

Institutional Investors Weigh In On Matthews International

Several large investors have recently made changes to their positions in the stock. Ameriprise Financial Inc. raised its holdings in shares of Matthews International by 9.0% during the second quarter. Ameriprise Financial Inc. now owns 1,664,426 shares of the company’s stock worth $39,796,000 after acquiring an additional 137,015 shares during the period. Gamco Investors INC. ET AL increased its holdings in Matthews International by 9.7% during the 4th quarter. Gamco Investors INC. ET AL now owns 1,554,105 shares of the company’s stock worth $40,593,000 after purchasing an additional 136,794 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Matthews International by 2.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,530,341 shares of the company’s stock worth $39,973,000 after purchasing an additional 29,865 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Matthews International by 2.1% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,075,479 shares of the company’s stock valued at $27,887,000 after purchasing an additional 22,046 shares during the period. Finally, Private Capital Management LLC raised its stake in shares of 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 purchasing 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.