Matthews International Corp. (MATW) To Go Ex-Dividend on November 23rd
Matthews International Corp. (NASDAQ:MATW) announced a dividend on Thursday, November 17th. Investors of record on Monday, November 28th will be given a dividend of 0.17 per share on Monday, December 12th. The ex-dividend date of this dividend is Wednesday, November 23rd. This is a positive change from Matthews International Corp.’s previous dividend of $0.13.
Shares of Matthews International Corp. (NASDAQ:MATW) opened at 68.35 on Friday. The company’s 50-day moving average price is $61.21 and its 200-day moving average price is $58.37. The company has a market capitalization of $2.19 billion, a PE ratio of 37.76 and a beta of 0.95. Matthews International Corp. has a 1-year low of $45.00 and a 1-year high of $68.45.
Matthews International Corp. (NASDAQ:MATW) last released its quarterly earnings results on Thursday, November 17th. The company reported $1.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.97 by $0.11. The company had revenue of $377 million for the quarter, compared to analysts’ expectations of $381.57 million. Matthews International Corp. had a return on equity of 14.87% and a net margin of 4.07%. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.93 earnings per share. On average, equities analysts expect that Matthews International Corp. will post $3.30 earnings per share for the current fiscal year.
In related news, insider Paul C. Jensen sold 914 shares of Matthews International Corp. stock in a transaction that occurred on Friday, September 2nd. The stock was sold at an average price of $62.24, for a total value of $56,887.36. Following the transaction, the insider now directly owns 24,679 shares of the company’s stock, valued at $1,536,020.96. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.60% of the stock is owned by corporate insiders.
Several research firms have recently weighed in on MATW. Macquarie boosted their price target on Matthews International Corp. from $57.00 to $64.00 and gave the stock a “neutral” rating in a report on Thursday, September 22nd. Wunderlich boosted their price target on Matthews International Corp. from $65.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, July 29th.
About Matthews International Corp.
Matthews International Corporation is a designer, manufacturer and marketer of memorialization products and brand solutions. The Company’s products and operations consist of six business segments: Cemetery Products, Funeral Home Products, Cremation, Graphics Imaging, Marking and Fulfillment Systems, and Merchandising Solutions.
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