Shares of Matthews International Corp (NASDAQ:MATW) have earned a consensus rating of “Hold” from the seven research firms that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $58.67.
MATW has been the subject of several research analyst reports. BidaskClub lowered shares of Matthews International from a “hold” rating to a “sell” rating in a research note on Monday, May 6th. Zacks Investment Research raised shares of Matthews International from a “hold” rating to a “buy” rating and set a $35.00 target price for the company in a research note on Wednesday, August 7th.
A number of hedge funds have recently made changes to their positions in the business. Advisor Group Inc. boosted its stake in shares of Matthews International by 30.2% in the second quarter. Advisor Group Inc. now owns 1,683 shares of the company’s stock valued at $59,000 after purchasing an additional 390 shares during the period. Bank of Montreal Can boosted its stake in shares of Matthews International by 247.8% in the second quarter. Bank of Montreal Can now owns 3,624 shares of the company’s stock valued at $126,000 after purchasing an additional 2,582 shares during the period. Amundi Pioneer Asset Management Inc. purchased a new position in shares of Matthews International in the fourth quarter valued at approximately $130,000. Everence Capital Management Inc. purchased a new position in shares of Matthews International in the second quarter valued at approximately $202,000. Finally, Stone Ridge Asset Management LLC purchased a new position in shares of Matthews International in the second quarter valued at approximately $209,000. 82.29% of the stock is owned by institutional investors.
Matthews International (NASDAQ:MATW) last announced its earnings results on Thursday, August 1st. The company reported $0.90 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.94 by ($0.04). The company had revenue of $379.30 million for the quarter, compared to analysts’ expectations of $388.38 million. Matthews International had a return on equity of 13.20% and a net margin of 4.04%. The company’s quarterly revenue was down 7.8% compared to the same quarter last year. During the same period last year, the business earned $1.16 EPS. As a group, research analysts forecast that Matthews International will post 3.6 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, August 19th. Shareholders of record on Monday, August 5th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.64%. The ex-dividend date is Friday, August 2nd. This is a positive change from Matthews International’s previous quarterly dividend of $0.13. Matthews International’s dividend payout ratio (DPR) is 20.20%.
About Matthews International
Matthews International Corporation provides brand solutions, memorialization products, and industrial products worldwide. The company's SGK Brand Solutions segment provides brand development and graphic design services, such as visual intellectual properties, packaging, and content creation; brand deployment and activation services, including design and production of merchandising exhibits and shopper experiences in digital and printed media channels; and consulting services to brand owners on workflow best practices, management and technologies, printing quality, measurement, and consistency.
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