Matthews International Corporation (MATW) Downgraded by BidaskClub
BidaskClub lowered shares of Matthews International Corporation (NASDAQ:MATW) from a sell rating to a strong sell rating in a research note released on Friday morning.
A number of other research firms have also commented on MATW. Macquarie raised Matthews International Corporation from a neutral rating to an outperform rating and set a $75.00 price objective on the stock in a research note on Wednesday, July 5th. FBR & Co reaffirmed an outperform rating on shares of Matthews International Corporation in a research note on Tuesday, July 11th.
Shares of Matthews International Corporation (MATW) opened at 60.30 on Friday. The firm has a 50-day moving average of $64.25 and a 200 day moving average of $65.56. Matthews International Corporation has a one year low of $56.72 and a one year high of $77.85. The company has a market cap of $1.94 billion, a price-to-earnings ratio of 25.41 and a beta of 1.11.
Matthews International Corporation (NASDAQ:MATW) last released its quarterly earnings results on Thursday, July 27th. The company reported $1.05 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.04 by $0.01. The company had revenue of $389.63 million for the quarter, compared to analysts’ expectations of $392.03 million. Matthews International Corporation had a return on equity of 16.23% and a net margin of 5.17%. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.97 earnings per share. Equities research analysts anticipate that Matthews International Corporation will post $3.61 EPS for the current year.
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The business also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Investors of record on Monday, July 31st were paid a $0.17 dividend. This is a positive change from Matthews International Corporation’s previous quarterly dividend of $0.13. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date was Thursday, July 27th. Matthews International Corporation’s payout ratio is currently 28.45%.
Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Matthews International Corporation by 0.8% in the second quarter. Vanguard Group Inc. now owns 3,105,791 shares of the company’s stock worth $190,229,000 after buying an additional 24,754 shares in the last quarter. Clarkston Capital Partners LLC raised its position in Matthews International Corporation by 0.5% in the second quarter. Clarkston Capital Partners LLC now owns 1,077,161 shares of the company’s stock worth $65,976,000 after buying an additional 5,245 shares in the last quarter. State Street Corp raised its position in Matthews International Corporation by 4.3% in the second quarter. State Street Corp now owns 785,834 shares of the company’s stock worth $48,137,000 after buying an additional 32,125 shares in the last quarter. Channing Capital Management LLC raised its position in Matthews International Corporation by 2.3% in the second quarter. Channing Capital Management LLC now owns 785,667 shares of the company’s stock worth $48,122,000 after buying an additional 18,004 shares in the last quarter. Finally, FMR LLC raised its position in Matthews International Corporation by 14.3% in the second quarter. FMR LLC now owns 764,748 shares of the company’s stock worth $46,841,000 after buying an additional 95,500 shares in the last quarter. 79.04% of the stock is currently owned by institutional investors.
About Matthews International Corporation
Matthews International Corporation is a provider of brand solutions, memorialization products and industrial technologies. The Company operates through three segments: SGK Brand Solutions, Memorialization and Industrial Technologies. The SGK Brand Solutions segment provides brand development, deployment and delivery (consisting of brand management, printing plates and cylinders, pre-media services and imaging services for consumer packaged goods and retail customers, merchandising display systems, and marketing and design services).
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