Matthews International (NASDAQ:MATW) Hits New 52-Week Low at $23.30

Matthews International Co. (NASDAQ:MATW)’s share price reached a new 52-week low on Friday . The stock traded as low as $23.30 and last traded at $23.32, with a volume of 109642 shares traded. The stock had previously closed at $24.34.

Matthews International Stock Down 4.2 %

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 has a market capitalization of $716.16 million, a P/E ratio of 22.00 and a beta of 1.08. The stock’s 50-day simple moving average is $25.76 and its 200-day simple moving average is $27.18.

Matthews International (NASDAQ:MATW) last announced its quarterly earnings data 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). The business had revenue of $427.83 million during the quarter, compared to the consensus estimate of $450.03 million. Matthews International had a net margin of 1.43% and a return on equity of 15.79%. During the same quarter last year, the company earned $0.74 EPS. As a group, research analysts predict that Matthews International Co. will post 2.53 earnings per share for the current fiscal year.

Matthews International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 19th. Shareholders of record on Monday, August 5th were given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 4.12%. The ex-dividend date was Monday, August 5th. Matthews International’s dividend payout ratio is 90.57%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Point72 DIFC Ltd purchased a new position in shares of Matthews International in the second quarter worth about $49,000. Smithfield Trust Co raised its holdings in Matthews International by 300.0% during the 4th quarter. Smithfield Trust Co now owns 2,800 shares of the company’s stock valued at $104,000 after acquiring an additional 2,100 shares during the period. nVerses Capital LLC purchased a new stake in shares of Matthews International during the second quarter worth $110,000. SG Americas Securities LLC bought a new position in shares of Matthews International in the second quarter worth $112,000. Finally, Victory Capital Management Inc. grew its position in shares of Matthews International by 15.7% in the fourth quarter. Victory Capital Management Inc. now owns 6,027 shares of the company’s stock valued at $221,000 after purchasing an additional 816 shares in the last quarter. 83.08% of the stock is 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.