Matthews International (NASDAQ:MATW) Shares Gap Down After Earnings Miss

Shares of Matthews International Co. (NASDAQ:MATW) gapped down prior to trading on Friday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $29.47, but opened at $27.09. Matthews International shares last traded at $27.36, with a volume of 138,491 shares.

The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.12). Matthews International had a negative net margin of 3.32% and a positive return on equity of 13.69%.

Matthews International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 24th. Investors of record on Monday, February 10th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 3.76%. The ex-dividend date of this dividend is Monday, February 10th. Matthews International’s dividend payout ratio is currently -51.81%.

Institutional Trading of Matthews International

Institutional investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC boosted its stake in shares of Matthews International by 136.2% during the second quarter. AQR Capital Management LLC now owns 23,239 shares of the company’s stock valued at $582,000 after purchasing an additional 13,399 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Matthews International by 6.9% during the second quarter. The Manufacturers Life Insurance Company now owns 15,707 shares of the company’s stock worth $393,000 after purchasing an additional 1,013 shares during the period. SG Americas Securities LLC grew its stake in shares of Matthews International by 226.0% in the third quarter. SG Americas Securities LLC now owns 14,577 shares of the company’s stock worth $338,000 after purchasing an additional 10,105 shares during the last quarter. Inspire Investing LLC increased its holdings in Matthews International by 25.8% during the 3rd quarter. Inspire Investing LLC now owns 19,608 shares of the company’s stock valued at $455,000 after purchasing an additional 4,018 shares during the period. Finally, Wedge Capital Management L L P NC raised its holdings in shares of Matthews International by 12.7% during the third quarter. Wedge Capital Management L L P NC now owns 55,936 shares of the company’s stock valued at $1,298,000 after acquiring an additional 6,323 shares in the last quarter. 83.08% of the stock is currently owned by hedge funds and other institutional investors.

Matthews International Price Performance

The company has a market cap of $823.21 million, a PE ratio of -13.77 and a beta of 1.14. The business has a 50 day moving average of $29.17 and a 200 day moving average of $26.18. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.45 and a quick ratio of 0.91.

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.