Matthews International (NASDAQ:MATW) Sets New 12-Month Low - Here's Why

Shares of Matthews International Co. (NASDAQ:MATW - Get Free Report) hit a new 52-week low on Tuesday . The company traded as low as $21.09 and last traded at $21.16, with a volume of 20161 shares changing hands. The stock had previously closed at $21.36.

Analyst Upgrades and Downgrades

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

Matthews International Stock Up 0.9 %

The stock has a market cap of $662.11 million, a P/E ratio of 20.24 and a beta of 1.07. The company has a current ratio of 1.66, a quick ratio of 1.02 and a debt-to-equity ratio of 1.64. The firm's fifty day moving average is $24.52 and its 200 day moving average is $26.30.

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

Matthews International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 19th. Investors of record on Monday, August 5th were given a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 4.45%. The ex-dividend date was Monday, August 5th. Matthews International's dividend payout ratio (DPR) is currently 90.57%.

Institutional Investors Weigh In On Matthews International

Hedge funds have recently made changes to their positions in the stock. Point72 DIFC Ltd acquired a new position in Matthews International in the 2nd quarter valued at approximately $49,000. nVerses Capital LLC bought a new position in shares of Matthews International during the 2nd quarter worth approximately $110,000. SG Americas Securities LLC acquired a new stake in Matthews International in the 2nd quarter valued at $112,000. XTX Topco Ltd bought a new stake in Matthews International in the second quarter valued at $246,000. Finally, Inspire Investing LLC grew its position in Matthews International by 20.0% in the second quarter. Inspire Investing LLC now owns 15,590 shares of the company's stock valued at $391,000 after acquiring an additional 2,598 shares during the period. Institutional investors own 83.08% of the company's stock.

About Matthews International

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.