Matthews International (NASDAQ:MATW) Share Price Crosses Above 200-Day Moving Average – Should You Sell?

Matthews International Corporation (NASDAQ:MATW) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $24.72 and traded as high as $28.71. Matthews International shares last traded at $28.25, with a volume of 179,192 shares.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d)” rating on shares of Matthews International in a report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has an average rating of “Sell”.

Matthews International Stock Down 1.1%

The company has a quick ratio of 0.91, a current ratio of 1.48 and a debt-to-equity ratio of 1.46. The firm has a fifty day moving average of $25.57 and a 200 day moving average of $24.72. The stock has a market cap of $870.10 million, a PE ratio of -35.76 and a beta of 1.18.

Matthews International (NASDAQ:MATW) last announced its earnings results on Friday, November 21st. The company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.28. The business had revenue of $318.84 million for the quarter, compared to analyst estimates of $290.79 million. Matthews International had a negative net margin of 1.63% and a positive return on equity of 8.65%. On average, equities research analysts anticipate that Matthews International Corporation will post 1.73 EPS for the current fiscal year.

Matthews International Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were paid a dividend of $0.255 per share. The ex-dividend date of this dividend was Monday, December 1st. This represents a $1.02 dividend on an annualized basis and a dividend yield of 3.6%. This is a boost from Matthews International’s previous quarterly dividend of $0.25. Matthews International’s dividend payout ratio is currently -129.11%.

Institutional Investors Weigh In On Matthews International

Several institutional investors have recently bought and sold shares of MATW. Ameriprise Financial Inc. lifted its holdings in Matthews International by 9.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,664,426 shares of the company’s stock worth $39,796,000 after buying an additional 137,015 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Matthews International by 0.9% in the third quarter. Dimensional Fund Advisors LP now owns 1,500,476 shares of the company’s stock valued at $36,430,000 after purchasing an additional 13,194 shares during the period. Gamco Investors INC. ET AL increased its position in Matthews International by 2.3% in the 3rd quarter. Gamco Investors INC. ET AL now owns 1,417,311 shares of the company’s stock valued at $34,412,000 after acquiring an additional 31,266 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Matthews International by 5.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,053,433 shares of the company’s stock valued at $25,346,000 after purchasing an additional 53,035 shares in the last quarter. Finally, Boston Partners boosted its holdings in shares of Matthews International by 111.4% in the second quarter. Boston Partners now owns 962,799 shares of the company’s stock valued at $23,021,000 after acquiring an additional 507,324 shares in the last quarter. 83.08% of the stock is currently owned by hedge funds and other institutional investors.

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.