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

Matthews International Corporation (NASDAQ:MATW) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $26.53 and traded as high as $27.25. Matthews International shares last traded at $26.72, with a volume of 156,528 shares changing hands.

Analyst Upgrades and Downgrades

MATW has been the topic of a number of analyst reports. Wall Street Zen lowered shares of Matthews International from a “buy” rating to a “hold” rating in a research report on Sunday, May 10th. Zacks Research upgraded shares of Matthews International from a “strong sell” rating to a “hold” rating in a research report on Monday, April 6th. Finally, Weiss Ratings cut Matthews International from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, May 6th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce”.

Matthews International Trading Up 1.0%

The business’s 50 day moving average price is $26.60 and its two-hundred day moving average price is $26.53. 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 company has a market capitalization of $833.66 million, a price-to-earnings ratio of 86.19 and a beta of 1.08.

Matthews International (NASDAQ:MATW) last released its quarterly earnings data on Thursday, April 30th. The company reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.20. The business had revenue of $258.62 million during the quarter, compared to analysts’ expectations of $253.65 million. Matthews International had a net margin of 0.80% and a return on equity of 5.88%. On average, equities analysts predict that Matthews International Corporation will post 1.09 earnings per share for the current fiscal year.

Matthews International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, May 25th. Shareholders of record on Monday, May 11th were paid a dividend of $0.255 per share. This represents a $1.02 dividend on an annualized basis and a dividend yield of 3.8%. The ex-dividend date of this dividend was Monday, May 11th. Matthews International’s payout ratio is presently 329.03%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MATW. UBS Group AG increased its stake in shares of Matthews International by 45.2% in the fourth quarter. UBS Group AG now owns 151,700 shares of the company’s stock valued at $3,962,000 after buying an additional 47,246 shares during the period. Peapack Gladstone Financial Corp acquired a new stake in Matthews International during the 4th quarter worth approximately $679,000. Allspring Global Investments Holdings LLC boosted 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 buying an additional 22,046 shares during the period. Equitable Trust Co. grew its holdings in Matthews International by 223.6% during the 4th quarter. Equitable Trust Co. now owns 29,045 shares of the company’s stock worth $759,000 after acquiring an additional 20,070 shares during the last quarter. Finally, Barington Companies Management LLC grew its holdings 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 last quarter. 83.08% of the stock is currently 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.