Matthews International (NASDAQ:MATW) Director Acquires $21,080.00 in Stock

Matthews International Corporation (NASDAQ:MATW) Director J Michael Nauman purchased 1,000 shares of the stock in a transaction dated Monday, August 24th. The stock was purchased at an average cost of $21.08 per share, for a total transaction of $21,080.00. Following the completion of the purchase, the director directly owned 10,081 shares of the company’s stock, valued at approximately $212,507.48. The trade was a 11.01% increase in their ownership of the stock. The transaction 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 Thursday, August 20th, J Michael Nauman bought 1,900 shares of Matthews International stock. The shares were bought at an average cost of $21.96 per share, with a total value of $41,724.00.
• On Monday, August 10th, J Michael Nauman bought 2,000 shares of Matthews International stock. The stock was purchased at an average price of $22.97 per share, for a total transaction of $45,940.00.

Matthews International Price Performance

NASDAQ MATW opened at $21.03 on Friday. The company has a market cap of $656.41 million, a PE ratio of -22.61 and a beta of 1.09. The company has a quick ratio of 1.02, a current ratio of 1.76 and a debt-to-equity ratio of 1.15. The firm’s 50-day simple moving average is $25.70 and its two-hundred day simple moving average is $26.15. Matthews International Corporation has a 52 week low of $20.87 and a 52 week high of $30.93.

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

Matthews International Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 24th. Shareholders of record on Monday, August 10th were paid a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date was Monday, August 10th. Matthews International’s dividend payout ratio is currently -109.68%.

Analyst Ratings Changes

MATW has been the subject of several research analyst reports. Weiss Ratings cut shares of Matthews International from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, August 17th. Zacks Research cut Matthews International from a “hold” rating to a “strong sell” rating in a research report on Monday, August 10th. Wall Street Zen downgraded shares of Matthews International from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Finally, Truist Financial began coverage on shares of Matthews International in a research note on Friday, August 21st. They issued a “hold” rating and a $24.00 price target on the stock. One research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Sell” and an average price target of $24.00.

Institutional Trading of Matthews International

Several hedge funds and other institutional investors have recently made changes to their positions in MATW. Public Employees Retirement System of Ohio acquired a new position in Matthews International during the 2nd quarter valued at approximately $38,000. US Bancorp DE raised its position in shares of Matthews International by 45.9% in the third quarter. US Bancorp DE now owns 2,063 shares of the company’s stock worth $50,000 after acquiring an additional 649 shares during the period. Potomac Capital Management Inc. purchased a new position in Matthews International during the fourth quarter worth approximately $59,000. Tower Research Capital LLC TRC grew its stake in Matthews International by 187.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,885 shares of the company’s stock valued at $69,000 after acquiring an additional 1,880 shares during the period. Finally, Tripletail Wealth Management LLC increased its stake in shares of Matthews International by 206.5% during the fourth quarter. Tripletail Wealth Management LLC now owns 2,820 shares of the company’s stock worth $73,000 after purchasing an additional 1,900 shares in the last quarter. 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.