Matthews International (NASDAQ:MATW) Shares Gap Up – What’s Next?

Matthews International Co. (NASDAQ:MATW)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $27.10, but opened at $28.00. Matthews International shares last traded at $30.15, with a volume of 46,443 shares.

Wall Street Analyst Weigh In

Separately, B. Riley lowered their price objective on shares of Matthews International from $54.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday, September 26th.

Matthews International Stock Up 12.2 %

The firm has a market cap of $930.30 million, a price-to-earnings ratio of -15.75 and a beta of 1.14. The stock has a 50-day moving average of $27.35 and a 200-day moving average of $25.52. The company has a current ratio of 1.45, a quick ratio of 0.91 and a debt-to-equity ratio of 1.76.

Matthews International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a dividend of $0.25 per share. This is an increase from Matthews International’s previous quarterly dividend of $0.24. The ex-dividend date was Monday, December 2nd. This represents a $1.00 annualized dividend and a dividend yield of 3.29%. Matthews International’s payout ratio is -51.81%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. KBC Group NV boosted its position in shares of Matthews International by 63.7% during the third quarter. KBC Group NV now owns 1,937 shares of the company’s stock worth $45,000 after buying an additional 754 shares during the period. Point72 DIFC Ltd acquired a new position in Matthews International during the 2nd quarter worth $49,000. BNP Paribas Financial Markets grew its stake in shares of Matthews International by 7.7% in the third quarter. BNP Paribas Financial Markets now owns 6,602 shares of the company’s stock worth $153,000 after purchasing an additional 471 shares in the last quarter. GSA Capital Partners LLP acquired a new position in shares of Matthews International during the third quarter valued at $222,000. Finally, Victory Capital Management Inc. bought a new stake in shares of Matthews International during the third quarter valued at about $235,000. Institutional investors own 83.08% of the company’s stock.

Matthews International Company Profile

Matthews International Corporation provides brand solutions, memorialization products, and industrial technologies worldwide. It operates through three segments: Memorialization, Industrial Technologies, and SGK Brand Solutions. The Memorialization segment provides bronze and granite memorials, upright granite memorials and monuments, concrete burial vaults, cremation memorialization products, granite benches, flower vases, crypt plates and letters, cremation urns, niche units, cemetery features, and statues, as well as bronze plaques, letters, emblems, vases, lights and photo ceramics, granite monuments, mausoleums, crypts, and flush memorials.