Matthews International (NASDAQ:MATW) Sets New 1-Year Low at $26.02

Shares of Matthews International Co. (NASDAQ:MATW) hit a new 52-week low during trading on Tuesday . The stock traded as low as $26.02 and last traded at $26.22, with a volume of 4359 shares. The stock had previously closed at $26.63.

Analysts Set New Price Targets

Several analysts have recently commented on MATW shares. StockNews.com cut Matthews International from a “buy” rating to a “hold” rating in a report on Friday, February 9th. B. Riley decreased their target price on Matthews International from $61.00 to $59.00 and set a “buy” rating on the stock in a report on Monday, February 5th.

Matthews International Stock Down 1.3 %

The firm has a fifty day moving average price of $28.68 and a 200 day moving average price of $33.29. The company has a quick ratio of 1.15, a current ratio of 1.88 and a debt-to-equity ratio of 1.69. The company has a market cap of $792.16 million, a P/E ratio of 24.36 and a beta of 1.12.

Matthews International (NASDAQ:MATW) last posted its quarterly earnings results on Thursday, February 1st. The company reported $0.37 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.37. The business had revenue of $449.99 million for the quarter, compared to analysts’ expectations of $437.77 million. Matthews International had a return on equity of 16.44% and a net margin of 1.77%. Equities research analysts forecast that Matthews International Co. will post 2.66 earnings per share for the current year.

Matthews International Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, February 19th. Investors of record on Monday, February 5th were issued a $0.24 dividend. This is a boost from Matthews International’s previous quarterly dividend of $0.13. The ex-dividend date was Friday, February 2nd. This represents a $0.96 annualized dividend and a yield of 3.72%. Matthews International’s dividend payout ratio (DPR) is currently 90.57%.

Hedge Funds Weigh In On Matthews International

Hedge funds have recently added to or reduced their stakes in the company. US Bancorp DE boosted its holdings in Matthews International by 92.3% in the first quarter. US Bancorp DE now owns 854 shares of the company’s stock valued at $28,000 after acquiring an additional 410 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in Matthews International by 97.7% in the first quarter. Tower Research Capital LLC TRC now owns 858 shares of the company’s stock valued at $31,000 after buying an additional 424 shares during the period. Cruiser Capital Advisors LLC acquired a new position in Matthews International in the first quarter valued at about $32,000. Covestor Ltd lifted its stake in Matthews International by 15,914.3% in the third quarter. Covestor Ltd now owns 1,121 shares of the company’s stock valued at $43,000 after buying an additional 1,114 shares during the period. Finally, Lazard Asset Management LLC acquired a new position in Matthews International in the second quarter valued at about $55,000. 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.