Matthews International (NASDAQ:MATW) Stock Passes Above 200-Day Moving Average – Time to Sell?

Matthews International Corporation (NASDAQ:MATW)’s share price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $26.52 and traded as high as $27.41. Matthews International shares last traded at $27.00, with a volume of 388,979 shares trading hands.

Analysts Set New Price Targets

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

Matthews International Stock Up 1.8%

The business’s fifty day moving average price is $26.79 and its two-hundred day moving average price is $26.52. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.97 and a current ratio of 1.64. The firm has a market capitalization of $842.40 million, a P/E ratio of 87.10 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 EPS for the quarter, topping the consensus estimate of $0.17 by $0.20. The firm had revenue of $258.62 million during the quarter, compared to analyst estimates 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 firm also recently disclosed a quarterly dividend, which was paid on Monday, May 25th. Stockholders of record on Monday, May 11th were given a $0.255 dividend. The ex-dividend date of this dividend was Monday, May 11th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 3.8%. Matthews International’s dividend payout ratio (DPR) is presently 329.03%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in MATW. UBS Group AG lifted its stake in shares of Matthews International by 45.2% during the fourth quarter. UBS Group AG now owns 151,700 shares of the company’s stock worth $3,962,000 after buying an additional 47,246 shares during the period. Peapack Gladstone Financial Corp purchased a new position in Matthews International in the 4th quarter worth $679,000. Allspring Global Investments Holdings LLC lifted its position in Matthews International by 2.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,075,479 shares of the company’s stock worth $27,887,000 after acquiring an additional 22,046 shares during the period. Barington Companies Management LLC lifted its position in Matthews International by 9.6% during the 4th quarter. Barington Companies Management LLC now owns 1,000,000 shares of the company’s stock worth $26,120,000 after acquiring an additional 87,196 shares during the period. Finally, Forty three Eighteen Advisors LLC purchased a new stake in Matthews International during the 4th quarter valued at about $1,583,000. 83.08% of the stock is owned by institutional investors and hedge funds.

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.