Matthews International (NASDAQ:MATW) Hits New 12-Month Low at $22.44

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

Analysts Set New Price Targets

Separately, B. Riley cut their price objective 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 Price Performance

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 stock has a market cap of $685.14 million, a P/E ratio of 21.34 and a beta of 1.08. The company has a 50 day simple moving average of $25.02 and a 200 day simple moving average of $26.50.

Matthews International (NASDAQ:MATW) last posted its quarterly earnings results 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). Matthews International had a return on equity of 15.79% and a net margin of 1.43%. The company had revenue of $427.83 million for the quarter, compared to analyst estimates of $450.03 million. During the same period last year, the firm earned $0.74 EPS. Sell-side analysts forecast that Matthews International Co. will post 2.53 earnings per share for the current fiscal year.

Matthews International Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 19th. Shareholders 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 annualized dividend and a yield of 4.30%. Matthews International’s dividend payout ratio is currently 90.57%.

Institutional Investors Weigh In On Matthews International

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Point72 DIFC Ltd acquired a new stake in shares of Matthews International in the 2nd quarter valued at $49,000. nVerses Capital LLC bought a new position in shares of Matthews International in the second quarter worth about $110,000. SG Americas Securities LLC acquired a new stake in shares of Matthews International in the 2nd quarter valued at approximately $112,000. XTX Topco Ltd bought a new stake in shares of Matthews International during the 2nd quarter valued at approximately $246,000. Finally, Inspire Investing LLC lifted its stake in Matthews International by 12.3% in 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 during the last quarter. Institutional investors and hedge funds 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.