Aleta Richards Buys 3,000 Shares of Matthews International (NASDAQ:MATW) Stock

Matthews International Corporation (NASDAQ:MATW) Director Aleta Richards purchased 3,000 shares of the firm’s stock in a transaction dated Friday, August 14th. The stock was acquired at an average price of $23.06 per share, for a total transaction of $69,180.00. Following the purchase, the director owned 12,535 shares in the company, valued at approximately $289,057.10. The trade was a 31.46% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Matthews International Price Performance

Shares of Matthews International stock traded down $0.35 during trading on Monday, reaching $22.90. 320,416 shares of the company’s stock were exchanged, compared to its average volume of 285,222. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.02 and a current ratio of 1.76. Matthews International Corporation has a 1-year low of $21.95 and a 1-year high of $30.93. The company has a market cap of $714.68 million, a P/E ratio of -24.57 and a beta of 1.09. The firm’s 50-day moving average price is $26.47 and its 200 day moving average price is $26.45.

Matthews International (NASDAQ:MATW) last released its quarterly earnings data on Friday, August 7th. The company reported $0.06 earnings per share 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 business had revenue of $246.02 million during the quarter, compared to analyst estimates of $264.54 million. As a group, research analysts anticipate that Matthews International Corporation will post 0.53 earnings per share for the current year.

Matthews International Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, August 10th will be paid a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date is Monday, August 10th. Matthews International’s dividend payout ratio (DPR) is presently -109.68%.

Hedge Funds Weigh In On Matthews International

Several large investors have recently bought and sold shares of MATW. US Bancorp DE grew its holdings in shares of Matthews International by 45.9% during the third quarter. US Bancorp DE now owns 2,063 shares of the company’s stock worth $50,000 after purchasing an additional 649 shares during the last quarter. Potomac Capital Management Inc. bought a new position in Matthews International in the 4th quarter valued at approximately $59,000. Tripletail Wealth Management LLC boosted its position in Matthews International by 206.5% during the 4th quarter. Tripletail Wealth Management LLC now owns 2,820 shares of the company’s stock worth $73,000 after buying an additional 1,900 shares during the period. Tower Research Capital LLC TRC boosted its position in Matthews International by 187.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,885 shares of the company’s stock worth $69,000 after buying an additional 1,880 shares during the period. Finally, BNP Paribas Financial Markets grew its holdings in Matthews International by 51.6% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,080 shares of the company’s stock worth $74,000 after acquiring an additional 1,048 shares during the last quarter. 83.08% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on MATW shares. Weiss Ratings reiterated a “sell (d+)” rating on shares of Matthews International in a research report on Monday, August 3rd. Zacks Research downgraded shares of Matthews International from a “hold” rating to a “strong sell” rating in a research note on Monday, August 10th. Finally, Wall Street Zen lowered shares of Matthews International from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Two investment analysts have rated the stock with a Sell rating, According to MarketBeat, the stock has an average rating of “Sell”.

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.