Matthews International (NASDAQ:MATW) Hits New 52-Week Low at $22.44

Shares of Matthews International Co. (NASDAQ:MATW - Get Free Report) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $22.44 and last traded at $22.44, with a volume of 33384 shares. The stock had previously closed at $22.72.

Wall Street Analyst Weigh In

Separately, B. Riley lowered their target price on Matthews International from $54.00 to $40.00 and set a "buy" rating on the stock in a research report on Thursday, September 26th.

Matthews International Trading Down 1.9 %

The business's 50 day moving average is $25.02 and its two-hundred day moving average is $26.50. The firm has a market capitalization of $684.22 million, a P/E ratio of 21.34 and a beta of 1.08. The company has a quick ratio of 1.02, a current ratio of 1.66 and a debt-to-equity ratio of 1.64.

Matthews International (NASDAQ:MATW - Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.56 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.58 by ($0.02). Matthews International had a net margin of 1.43% and a return on equity of 15.79%. The firm had revenue of $427.83 million for the quarter, compared to the consensus estimate of $450.03 million. During the same period in the previous year, the business posted $0.74 earnings per share. Analysts expect that Matthews International Co. will post 2.53 EPS for the current year.

Matthews International Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Monday, August 5th were issued a $0.24 dividend. The ex-dividend date was Monday, August 5th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.31%. Matthews International's payout ratio is currently 90.57%.

Institutional Trading of Matthews International

A number of large investors have recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in shares of Matthews International during the fourth quarter worth $7,200,000. Allspring Global Investments Holdings LLC raised its holdings in Matthews International by 25.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 587,477 shares of the company's stock worth $18,259,000 after buying an additional 117,461 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Matthews International by 2.2% in the first quarter. Vanguard Group Inc. now owns 3,619,317 shares of the company's stock worth $112,488,000 after buying an additional 76,752 shares during the period. Barington Capital Group L.P. increased its position in shares of Matthews International by 18.1% in the second quarter. Barington Capital Group L.P. now owns 385,000 shares of the company's stock worth $9,644,000 after acquiring an additional 59,000 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of Matthews International in the second quarter worth approximately $1,437,000. 83.08% of the stock is currently owned by 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.