Matthews International (NASDAQ:MATW) Shares Cross Above Two Hundred Day Moving Average – Time to Sell?

Matthews International Corporation (NASDAQ:MATW)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $25.34 and traded as high as $25.41. Matthews International shares last traded at $25.27, with a volume of 164,543 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Weiss Ratings upgraded shares of Matthews International from a “sell (d)” rating to a “hold (c)” rating in a research report on Friday, February 6th. Zacks Research cut Matthews International from a “hold” rating to a “strong sell” rating in a research note on Monday, January 19th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Reduce”.

Matthews International Stock Down 0.5%

The firm’s 50 day moving average price is $26.04 and its 200-day moving average price is $25.34. The company has a current ratio of 1.51, a quick ratio of 0.91 and a debt-to-equity ratio of 0.98. The company has a market cap of $786.66 million, a P/E ratio of 35.59 and a beta of 1.16.

Matthews International (NASDAQ:MATW) last announced its quarterly earnings data on Wednesday, February 4th. The company reported ($0.19) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.24). Matthews International had a net margin of 1.64% and a return on equity of 5.95%. The business had revenue of $284.76 million during the quarter, compared to analyst estimates of $282.50 million. As a group, equities research analysts expect that Matthews International Corporation 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 23rd. Stockholders of record on Monday, February 9th were paid a $0.255 dividend. The ex-dividend date of this dividend was Monday, February 9th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 4.0%. Matthews International’s dividend payout ratio is 143.66%.

Institutional Investors Weigh In On Matthews International

Institutional investors have recently made changes to their positions in the stock. US Bancorp DE increased its holdings in Matthews International by 45.9% in the third quarter. US Bancorp DE now owns 2,063 shares of the company’s stock valued at $50,000 after purchasing an additional 649 shares during the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in Matthews International during the third quarter worth about $59,000. Potomac Capital Management Inc. acquired a new position in shares of Matthews International during the 4th quarter worth about $59,000. Tower Research Capital LLC TRC increased its stake in shares of Matthews International by 187.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,885 shares of the company’s stock valued at $69,000 after acquiring an additional 1,880 shares during the last quarter. Finally, Tripletail Wealth Management LLC raised its position in shares of Matthews International by 206.5% in the 4th quarter. Tripletail Wealth Management LLC now owns 2,820 shares of the company’s stock valued at $73,000 after acquiring an additional 1,900 shares during the period. 83.08% of the stock is owned by institutional investors and hedge funds.

Matthews International Company Profile

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.