Matthews International (NASDAQ:MATW) Now Covered by Analysts at StockNews.com

StockNews.com assumed coverage on shares of Matthews International (NASDAQ:MATW – Get Rating) in a research report sent to investors on Thursday. The brokerage issued a buy rating on the stock.

Matthews International Price Performance

MATW stock traded down $1.21 during midday trading on Thursday, hitting $34.89. The stock had a trading volume of 676,188 shares, compared to its average volume of 118,963. Matthews International has a 52 week low of $22.12 and a 52 week high of $39.64. The stock has a 50-day simple moving average of $37.29 and a 200 day simple moving average of $30.87. The company has a quick ratio of 1.06, a current ratio of 1.73 and a debt-to-equity ratio of 1.65.

Matthews International Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 20th. Shareholders of record on Monday, February 6th were paid a dividend of $0.23 per share. The ex-dividend date was Friday, February 3rd. This represents a $0.92 annualized dividend and a yield of 2.64%. Matthews International’s dividend payout ratio is currently -37.10%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of MATW. Norges Bank acquired a new position in Matthews International during the fourth quarter worth $7,460,000. Palisade Capital Management LLC NJ raised its stake in Matthews International by 24.8% during the fourth quarter. Palisade Capital Management LLC NJ now owns 641,734 shares of the company’s stock worth $19,534,000 after acquiring an additional 127,650 shares in the last quarter. Renaissance Technologies LLC raised its stake in Matthews International by 143.6% during the third quarter. Renaissance Technologies LLC now owns 132,653 shares of the company’s stock worth $2,973,000 after acquiring an additional 78,200 shares in the last quarter. Teacher Retirement System of Texas acquired a new position in Matthews International during the fourth quarter worth $2,354,000. Finally, Vanguard Group Inc. increased its stake in shares of Matthews International by 2.2% in the first quarter. Vanguard Group Inc. now owns 3,491,378 shares of the company’s stock valued at $112,981,000 after buying an additional 74,954 shares in the last quarter. 81.25% of the stock is currently owned by institutional investors and hedge funds.

About Matthews International

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Matthews International Corp. engages in the provision of brand solutions, memorialization products, and industrial technologies. It operates through the following segments: Memorialization, Industrial Technologies, and SGK Brand Solutions. The Memorialization segment consists of bronze and granite memorials, and other memorialization products, caskets and cremation and incineration equipment for the cemetery and funeral home industries.