Matthews International (NASDAQ:MATW) Hits New 1-Year Low - What's Next?

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

Matthews International Price Performance

The firm has a 50 day moving average of $24.54 and a 200-day moving average of $25.66. The company has a current ratio of 1.58, a quick ratio of 0.96 and a debt-to-equity ratio of 1.94. The company has a market cap of $618.76 million, a P/E ratio of -10.14 and a beta of 1.07.

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

Matthews International Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, February 24th. Stockholders of record on Monday, February 10th were given a dividend of $0.25 per share. The ex-dividend date was Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.01%. Matthews International's payout ratio is -50.76%.

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Institutional Investors Weigh In On Matthews International

A number of hedge funds have recently made changes to their positions in the company. Barclays PLC increased its stake in Matthews International by 375.4% in the 3rd quarter. Barclays PLC now owns 52,823 shares of the company's stock worth $1,225,000 after acquiring an additional 41,711 shares during the last quarter. Jane Street Group LLC grew its holdings in shares of Matthews International by 120.5% in the third quarter. Jane Street Group LLC now owns 79,861 shares of the company's stock valued at $1,853,000 after purchasing an additional 43,650 shares in the last quarter. Geode Capital Management LLC increased its position in Matthews International by 0.9% in the third quarter. Geode Capital Management LLC now owns 729,539 shares of the company's stock worth $16,929,000 after purchasing an additional 6,536 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in Matthews International by 10.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 781,592 shares of the company's stock valued at $21,126,000 after purchasing an additional 73,240 shares in the last quarter. Finally, State Street Corp lifted its position in Matthews International by 6.8% during the third quarter. State Street Corp now owns 1,208,505 shares of the company's stock valued at $28,037,000 after purchasing an additional 76,911 shares during the last quarter. 83.08% of the stock is currently owned by hedge funds and other institutional investors.

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.