Matthews International (NASDAQ:MATW) Share Price Crosses Above Two Hundred Day Moving Average – Should You Sell?

Matthews International Corporation (NASDAQ:MATW)’s share price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $26.53 and traded as high as $27.57. Matthews International shares last traded at $26.61, with a volume of 357,136 shares.

Analyst Ratings Changes

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

Matthews International Trading Down 2.3%

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 business’s fifty day simple moving average is $26.91 and its two-hundred day simple moving average is $26.53. The stock has a market capitalization of $830.23 million, a P/E ratio of 85.84 and a beta of 1.08.

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

Matthews International Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a yield of 3.8%. Matthews International’s dividend payout ratio (DPR) is 329.03%.

Hedge Funds Weigh In On Matthews International

Several large investors have recently added to or reduced their stakes in MATW. UBS Group AG grew its holdings in shares of Matthews International by 45.2% during the 4th quarter. UBS Group AG now owns 151,700 shares of the company’s stock worth $3,962,000 after purchasing an additional 47,246 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Matthews International by 2.1% during the fourth 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. Forty three Eighteen Advisors LLC acquired a new position in shares of Matthews International in the fourth quarter valued at $1,583,000. Barington Companies Management LLC raised its stake in shares of Matthews International by 9.6% in the fourth quarter. Barington Companies Management LLC now owns 1,000,000 shares of the company’s stock valued at $26,120,000 after purchasing an additional 87,196 shares in the last quarter. Finally, Equitable Trust Co. lifted its position in Matthews International by 223.6% in the fourth quarter. Equitable Trust Co. now owns 29,045 shares of the company’s stock worth $759,000 after purchasing an additional 20,070 shares during the period. Institutional investors and hedge funds 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.