Matthews International (NASDAQ:MATW) Shares Gap Up – Here’s What Happened

Matthews International Co. (NASDAQ:MATW)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $26.74, but opened at $30.50. Matthews International shares last traded at $28.36, with a volume of 134,447 shares.

Matthews International Stock Up 6.0 %

The company has a current ratio of 1.45, a quick ratio of 0.91 and a debt-to-equity ratio of 1.76. The firm has a 50-day moving average of $29.19 and a two-hundred day moving average of $26.16. The firm has a market cap of $877.84 million, a price-to-earnings ratio of -14.71 and a beta of 1.14.

Matthews International (NASDAQ:MATW) last announced its earnings results on Thursday, November 21st. The company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.41 by $0.14. Matthews International had a negative net margin of 3.32% and a positive return on equity of 13.69%. During the same quarter last year, the company earned $0.96 EPS. As a group, sell-side analysts predict that Matthews International Co. will post 2 earnings per share for the current fiscal year.

Matthews International Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 24th. Shareholders of record on Monday, February 10th will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, February 10th. This represents a $1.00 dividend on an annualized basis and a yield of 3.53%. Matthews International’s dividend payout ratio is currently -51.81%.

Hedge Funds Weigh In On Matthews International

Hedge funds and other institutional investors have recently made changes to their positions in the business. Renaissance Technologies LLC bought a new stake in shares of Matthews International in the 2nd quarter valued at approximately $725,000. AQR Capital Management LLC boosted its holdings in shares of Matthews International by 136.2% in the 2nd quarter. AQR Capital Management LLC now owns 23,239 shares of the company’s stock worth $582,000 after acquiring an additional 13,399 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in Matthews International by 6.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 15,707 shares of the company’s stock valued at $393,000 after purchasing an additional 1,013 shares in the last quarter. SG Americas Securities LLC raised its position in Matthews International by 226.0% in the 3rd quarter. SG Americas Securities LLC now owns 14,577 shares of the company’s stock valued at $338,000 after purchasing an additional 10,105 shares during the last quarter. Finally, Inspire Investing LLC boosted its stake in Matthews International by 25.8% in the third quarter. Inspire Investing LLC now owns 19,608 shares of the company’s stock worth $455,000 after purchasing an additional 4,018 shares in the last quarter. 83.08% of the stock is owned by institutional investors.

Matthews International Company Profile

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.