Matthews International (NASDAQ:MATW) Stock Price Down 5.5% – Time to Sell?

Matthews International Co. (NASDAQ:MATW) dropped 5.5% during trading on Tuesday . The stock traded as low as $29.82 and last traded at $29.82. Approximately 42,356 shares changed hands during trading, a decline of 73% from the average daily volume of 155,622 shares. The stock had previously closed at $31.54.

Analyst Ratings Changes

Separately, B. Riley decreased their target price on Matthews International from $54.00 to $40.00 and set a “buy” rating on the stock in a report on Thursday, September 26th.

Matthews International Trading Down 4.4 %

The company has a market cap of $922.84 million, a price-to-earnings ratio of -15.73 and a beta of 1.06. 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 business’s 50 day moving average price is $23.41 and its 200-day moving average price is $25.22.

Matthews International Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date of this dividend is Monday, December 2nd. This is a boost from Matthews International’s previous quarterly dividend of $0.24. Matthews International’s payout ratio is currently -51.81%.

Institutional Trading of Matthews International

Several hedge funds have recently added to or reduced their stakes in MATW. KBC Group NV grew its holdings in Matthews International by 63.7% in the 3rd quarter. KBC Group NV now owns 1,937 shares of the company’s stock valued at $45,000 after buying an additional 754 shares in the last quarter. Point72 DIFC Ltd acquired a new position in shares of Matthews International in the second quarter valued at about $49,000. nVerses Capital LLC bought a new position in Matthews International during the second quarter worth about $110,000. SG Americas Securities LLC acquired a new stake in Matthews International in the 2nd quarter worth about $112,000. Finally, BNP Paribas Financial Markets boosted its holdings in Matthews International by 7.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 6,602 shares of the company’s stock valued at $153,000 after purchasing an additional 471 shares during the period. 83.08% of the stock is owned by institutional investors and hedge funds.

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.