Matthews International (NASDAQ:MATW) Hits New 12-Month Low – Time to Sell?

Matthews International Co. (NASDAQ:MATW)’s share price reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $20.33 and last traded at $20.56, with a volume of 30664 shares trading hands. The stock had previously closed at $22.43.

Matthews International Stock Performance

The stock has a market cap of $618.76 million, a price-to-earnings ratio of -10.14 and a beta of 1.09. The company has a quick ratio of 0.96, a current ratio of 1.58 and a debt-to-equity ratio of 1.94. The company has a 50 day simple moving average of $24.54 and a 200 day simple moving average of $25.65.

Matthews International (NASDAQ:MATW) last released its quarterly earnings data on Thursday, February 6th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.12). Matthews International had a positive return on equity of 12.88% and a negative net margin of 3.48%. As a group, equities research analysts forecast that Matthews International Co. will post 1.73 EPS for the current year.

Matthews International Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, February 24th. Stockholders of record on Monday, February 10th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, February 10th. This represents a $1.00 annualized dividend and a dividend yield of 5.01%. Matthews International’s dividend payout ratio (DPR) is presently -50.76%.

Institutional Investors Weigh In On Matthews International

Hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets increased its holdings in Matthews International by 7.7% in the 3rd 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. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Matthews International by 3.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,906 shares of the company’s stock worth $468,000 after purchasing an additional 593 shares during the last quarter. Quadrant Capital Group LLC increased its stake in shares of Matthews International by 551.8% in the fourth quarter. Quadrant Capital Group LLC now owns 906 shares of the company’s stock valued at $25,000 after buying an additional 767 shares during the period. Sterling Capital Management LLC increased its stake in shares of Matthews International by 797.2% in the fourth quarter. Sterling Capital Management LLC now owns 951 shares of the company’s stock valued at $26,000 after buying an additional 845 shares during the period. Finally, CANADA LIFE ASSURANCE Co raised its holdings in Matthews International by 3.6% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 31,156 shares of the company’s stock valued at $862,000 after buying an additional 1,088 shares during the last quarter. Institutional investors and hedge funds 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.