Matthews International (NASDAQ:MATW) Hits New 52-Week Low – Time to Sell?

Matthews International Co. (NASDAQ:MATW)’s stock price hit a new 52-week low 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.

Analyst Upgrades and Downgrades

Separately, B. Riley dropped their target price on shares of Matthews International from $54.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, September 26th.

Matthews International Stock Up 1.3 %

The company has a market capitalization of $673.16 million, a price-to-earnings ratio of 20.53 and a beta of 1.07. The stock’s fifty day simple moving average is $24.78 and its two-hundred day simple moving average is $26.44. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.66 and a quick ratio of 1.02.

Matthews International (NASDAQ:MATW) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.56 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.02). The firm had revenue of $427.83 million for the quarter, compared to the consensus estimate of $450.03 million. Matthews International had a return on equity of 15.79% and a net margin of 1.43%. During the same quarter in the prior year, the company posted $0.74 EPS. On average, sell-side analysts predict that Matthews International Co. will post 2.53 earnings per share for the current fiscal year.

Matthews International Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, August 19th. Stockholders of record on Monday, August 5th were given a dividend of $0.24 per share. The ex-dividend date was Monday, August 5th. This represents a $0.96 annualized dividend and a dividend yield of 4.38%. Matthews International’s dividend payout ratio is currently 90.57%.

Hedge Funds Weigh In On Matthews International

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Texas Permanent School Fund Corp boosted its position in shares of Matthews International by 2.0% during the 1st quarter. Texas Permanent School Fund Corp now owns 26,853 shares of the company’s stock valued at $835,000 after purchasing an additional 533 shares in the last quarter. SummerHaven Investment Management LLC boosted its position in shares of Matthews International by 3.5% during the 2nd quarter. SummerHaven Investment Management LLC now owns 16,118 shares of the company’s stock valued at $404,000 after purchasing an additional 538 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Matthews International by 6.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,707 shares of the company’s stock valued at $393,000 after purchasing an additional 1,013 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Matthews International by 1.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 68,771 shares of the company’s stock valued at $2,138,000 after purchasing an additional 1,063 shares in the last quarter. Finally, Inspire Investing LLC boosted its position in shares of Matthews International by 12.3% during the 1st quarter. Inspire Investing LLC now owns 12,992 shares of the company’s stock valued at $404,000 after purchasing an additional 1,428 shares in the last quarter. Institutional investors own 83.08% of the company’s stock.

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.