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

Shares of Matthews International Co. (NASDAQ:MATW) 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 trading hands.

Matthews International Stock Performance

The stock’s fifty day moving average is $29.17 and its two-hundred day moving average is $26.18. The company has a debt-to-equity ratio of 1.76, a current ratio of 1.45 and a quick ratio of 0.91.

Matthews International (NASDAQ:MATW) last issued its quarterly earnings data on Thursday, February 6th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.12). Matthews International had a positive return on equity of 12.42% and a negative net margin of 3.48%. As a group, research analysts forecast that Matthews International Co. will post 2 earnings per share for the current fiscal year.

Matthews International Dividend Announcement

The business also recently announced 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 annualized dividend and a yield of 3.77%. Matthews International’s payout ratio is -50.76%.

Institutional Trading of Matthews International

Institutional investors have recently made changes to their positions in the stock. KBC Group NV lifted its position in Matthews International by 63.7% in the third quarter. KBC Group NV now owns 1,937 shares of the company’s stock worth $45,000 after purchasing an additional 754 shares during the period. Smartleaf Asset Management LLC raised its stake in shares of Matthews International by 1,865.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 4,500 shares of the company’s stock worth $125,000 after buying an additional 4,271 shares in the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Matthews International by 7.7% in the third quarter. BNP Paribas Financial Markets now owns 6,602 shares of the company’s stock valued at $153,000 after buying an additional 471 shares during the period. AlphaQuest LLC bought a new stake in Matthews International in the fourth quarter worth about $154,000. Finally, Waldron Private Wealth LLC bought a new position in shares of Matthews International during the 4th quarter valued at about $213,000. 83.08% of the stock is owned by institutional investors and hedge funds.

About Matthews International

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.