Matthews International (NASDAQ:MATW) Reaches New 1-Year Low – Should You Sell?

Matthews International Co. (NASDAQ:MATW)’s stock price hit a new 52-week low during mid-day trading on Thursday . The company 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 Stock Down 8.1 %

The company has a debt-to-equity ratio of 1.94, a current ratio of 1.58 and a quick ratio of 0.96. The stock has a market capitalization of $638.05 million, a price-to-earnings ratio of -10.49 and a beta of 1.09. The firm’s fifty day moving average is $24.91 and its 200-day moving average is $25.71.

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

Matthews International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 24th. Stockholders of record on Monday, February 10th were given a $0.25 dividend. The ex-dividend date was Monday, February 10th. This represents a $1.00 annualized dividend and a dividend yield of 4.85%. Matthews International’s payout ratio is -50.76%.

Hedge Funds Weigh In On Matthews International

Several large investors have recently added to or reduced their stakes in MATW. Vanguard Group Inc. increased its stake in Matthews International by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 3,461,134 shares of the company’s stock valued at $95,804,000 after purchasing an additional 18,425 shares during the last quarter. Ameriprise Financial Inc. grew its position in shares of Matthews International by 10.0% during the 4th quarter. Ameriprise Financial Inc. now owns 1,854,343 shares of the company’s stock valued at $51,328,000 after buying an additional 168,970 shares during the last quarter. Phoenix Financial Ltd. raised its stake in Matthews International by 1.9% during the fourth quarter. Phoenix Financial Ltd. now owns 1,523,362 shares of the company’s stock worth $42,167,000 after acquiring an additional 28,189 shares during the period. State Street Corp lifted its holdings in Matthews International by 6.8% in the third quarter. State Street Corp now owns 1,208,505 shares of the company’s stock worth $28,037,000 after acquiring an additional 76,911 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in Matthews International by 10.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 781,592 shares of the company’s stock valued at $21,126,000 after acquiring an additional 73,240 shares during the period. 83.08% of the stock is currently owned by institutional investors.

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.