Matthews International Corporation (NASDAQ:MATW) Plans $0.26 Quarterly Dividend

Matthews International Corporation (NASDAQ:MATW) declared a quarterly dividend on Wednesday, July 29th. Stockholders of record on Monday, August 10th will be paid a dividend of 0.255 per share on Monday, August 24th. This represents a c) dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Monday, August 10th.

Matthews International has raised its dividend by an average of 0.0%per year over the last three years and has increased its dividend every year for the last 30 years. Matthews International has a payout ratio of 136.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Matthews International to earn $1.24 per share next year, which means the company should continue to be able to cover its $1.02 annual dividend with an expected future payout ratio of 82.3%.

Matthews International Stock Down 1.5%

Shares of NASDAQ:MATW opened at $28.42 on Thursday. Matthews International has a 1 year low of $21.95 and a 1 year high of $30.93. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.64 and a quick ratio of 0.97. The business’s 50-day moving average is $26.68 and its 200-day moving average is $26.61. The company has a market capitalization of $886.70 million, a price-to-earnings ratio of 91.68 and a beta of 1.08.

Matthews International (NASDAQ:MATW) last issued its earnings results on Thursday, April 30th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.20. Matthews International had a net margin of 0.80% and a return on equity of 5.88%. The business had revenue of $258.62 million for the quarter, compared to analyst estimates of $253.65 million. Equities research analysts predict that Matthews International will post 1.09 earnings per share for the current year.

Hedge Funds Weigh In On Matthews International

Several institutional investors and hedge funds have recently bought and sold shares of the stock. US Bancorp DE grew its holdings in shares of Matthews International by 45.9% in the third quarter. US Bancorp DE now owns 2,063 shares of the company’s stock worth $50,000 after purchasing an additional 649 shares during the last quarter. Potomac Capital Management Inc. purchased a new position in Matthews International during the 4th quarter valued at about $59,000. Tower Research Capital LLC TRC raised its position in Matthews International by 187.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,885 shares of the company’s stock valued at $69,000 after purchasing an additional 1,880 shares during the last quarter. Tripletail Wealth Management LLC lifted its holdings in Matthews International by 206.5% in the 4th quarter. Tripletail Wealth Management LLC now owns 2,820 shares of the company’s stock worth $73,000 after buying an additional 1,900 shares during the period. Finally, BNP Paribas Financial Markets increased its stake in shares of Matthews International by 51.6% during the second quarter. BNP Paribas Financial Markets now owns 3,080 shares of the company’s stock valued at $74,000 after buying an additional 1,048 shares during the period. 83.08% of the stock is currently owned by institutional investors.

About Matthews International

Matthews International Corporation (NASDAQ:MATW) is a diversified industrial company headquartered in Pittsburgh, Pennsylvania. The company operates through two primary business segments—Brand Solutions and Memorialization—offering a broad range of products and services designed to meet the needs of industrial manufacturers, brand marketers and the funeral industry worldwide.

In its Brand Solutions segment, Matthews International provides engraving and digital printing systems, automated finishing equipment, thermal management products and electronics assembly solutions.