J Michael Nauman Acquires 1,900 Shares of Matthews International (NASDAQ:MATW) Stock

Matthews International Corporation (NASDAQ:MATW) Director J Michael Nauman acquired 1,900 shares of the company’s stock in a transaction on Thursday, August 20th. The stock was purchased at an average cost of $21.96 per share, for a total transaction of $41,724.00. Following the completion of the transaction, the director owned 9,081 shares in the company, valued at approximately $199,418.76. The trade was a 26.46% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.

J Michael Nauman also recently made the following trade(s):

• On Monday, August 10th, J Michael Nauman purchased 2,000 shares of Matthews International stock. The stock was acquired at an average price of $22.97 per share, for a total transaction of $45,940.00.

Matthews International Stock Down 1.1%

Shares of NASDAQ MATW traded down $0.23 during midday trading on Monday, hitting $21.04. 228,124 shares of the company’s stock were exchanged, compared to its average volume of 301,713. The company has a market cap of $656.66 million, a PE ratio of -22.62 and a beta of 1.09. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.76 and a quick ratio of 1.02. Matthews International Corporation has a twelve month low of $20.87 and a twelve month high of $30.93. The firm’s fifty day simple moving average is $26.09 and its 200-day simple moving average is $26.30.

Matthews International (NASDAQ:MATW) last issued its earnings results on Friday, August 7th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.35). Matthews International had a negative net margin of 2.65% and a positive return on equity of 4.51%. The company had revenue of $246.02 million during the quarter, compared to analyst estimates of $264.54 million. Research analysts predict that Matthews International Corporation will post 0.53 EPS for the current fiscal year.

Matthews International Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, August 10th will be issued a $0.255 dividend. This represents a $1.02 annualized dividend and a dividend yield of 4.8%. The ex-dividend date of this dividend is Monday, August 10th. Matthews International’s dividend payout ratio is presently -109.68%.

Analyst Ratings Changes

A number of brokerages have recently commented on MATW. Zacks Research cut shares of Matthews International from a “hold” rating to a “strong sell” rating in a report on Monday, August 10th. Weiss Ratings lowered shares of Matthews International from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, August 17th. Wall Street Zen cut shares of Matthews International from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Finally, Truist Financial assumed coverage on shares of Matthews International in a research note on Friday. They set a “hold” rating and a $24.00 target price for the company. One research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Matthews International presently has a consensus rating of “Sell” and an average target price of $24.00.

Hedge Funds Weigh In On Matthews International

A number of large investors have recently bought and sold shares of the company. Steel Partners Holdings L.P. acquired a new stake in Matthews International in the fourth quarter valued at $20,084,000. California State Teachers Retirement System grew its stake in shares of Matthews International by 2,813.7% during the 2nd quarter. California State Teachers Retirement System now owns 777,100 shares of the company’s stock worth $20,920,000 after purchasing an additional 750,429 shares during the period. Private Capital Management LLC increased its holdings in shares of Matthews International by 201.1% in the 4th quarter. Private Capital Management LLC now owns 1,018,587 shares of the company’s stock valued at $26,605,000 after purchasing an additional 680,256 shares in the last quarter. Simcoe Capital Management LLC acquired a new stake in shares of Matthews International in the fourth quarter valued at about $8,763,000. Finally, Cannell Capital LLC acquired a new stake in shares of Matthews International in the second quarter valued at about $5,926,000. Hedge funds and other institutional investors own 83.08% of the company’s stock.

Matthews International Company Profile

Matthews International Corporation (NASDAQ:MATW) is a diversified industrial company headquartered in Pittsburgh, Pennsylvania. The company operates through two primary business segments—Brand Solutions and Memorialization—offering a broad range of products and services designed to meet the needs of industrial manufacturers, brand marketers and the funeral industry worldwide.

In its Brand Solutions segment, Matthews International provides engraving and digital printing systems, automated finishing equipment, thermal management products and electronics assembly solutions.