Matthews International Co. (MATW) To Go Ex-Dividend on May 3rd

Matthews International Co. (NASDAQ:MATW) declared a quarterly dividend on Wednesday, April 24th, Zacks reports. Stockholders of record on Monday, May 6th will be given a dividend of 0.24 per share on Monday, May 20th. This represents a $0.96 annualized dividend and a dividend yield of 3.48%. The ex-dividend date of this dividend is Friday, May 3rd.

Matthews International has increased its dividend by an average of 3.3% annually over the last three years and has raised its dividend every year for the last 29 years. Matthews International has a payout ratio of 35.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Matthews International to earn $2.78 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 34.5%.

Matthews International Trading Up 2.3 %

Matthews International stock opened at $27.55 on Friday. The firm has a 50 day simple moving average of $28.46 and a 200-day simple moving average of $32.85. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.88 and a quick ratio of 1.15. The stock has a market capitalization of $845.23 million, a PE ratio of 25.99 and a beta of 1.12. Matthews International has a 12-month low of $25.42 and a 12-month high of $48.86.

Matthews International (NASDAQ:MATW) last posted its quarterly earnings data on Thursday, February 1st. The company reported $0.37 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.37. The business had revenue of $449.99 million during the quarter, compared to analysts’ expectations of $437.77 million. Matthews International had a net margin of 1.77% and a return on equity of 16.44%. As a group, equities research analysts expect that Matthews International will post 2.6 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. StockNews.com cut shares of Matthews International from a “buy” rating to a “hold” rating in a report on Friday, February 9th. B. Riley reduced their target price on shares of Matthews International from $61.00 to $59.00 and set a “buy” rating for the company in a report on Monday, February 5th.

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.