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

Matthews International Corporation (NASDAQ:MATW) Director J Michael Nauman bought 1,900 shares of Matthews International stock in a transaction on Thursday, August 20th. The shares were purchased at an average cost of $21.96 per share, with a total value of $41,724.00. Following the completion of the purchase, the director directly owned 9,081 shares in the company, valued at $199,418.76. This trade represents a 26.46% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

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

• On Monday, August 24th, J Michael Nauman purchased 1,000 shares of Matthews International stock. The stock was purchased at an average price of $21.08 per share, for a total transaction of $21,080.00.
• On Monday, August 10th, J Michael Nauman purchased 2,000 shares of Matthews International stock. The shares were acquired at an average cost of $22.97 per share, for a total transaction of $45,940.00.

Matthews International Stock Performance

Shares of NASDAQ MATW opened at $21.50 on Wednesday. Matthews International Corporation has a 12-month low of $20.87 and a 12-month high of $30.93. The company has a market cap of $671.01 million, a PE ratio of -23.12 and a beta of 1.09. The stock has a 50 day simple moving average of $25.89 and a 200-day simple moving average of $26.23. The company has a current ratio of 1.76, a quick ratio of 1.02 and a debt-to-equity ratio of 1.15.

Matthews International (NASDAQ:MATW) last posted its earnings results 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 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. On average, equities research analysts forecast that Matthews International Corporation will post 0.53 EPS for the current year.

Matthews International Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, August 24th. Investors of record on Monday, August 10th were issued a dividend of $0.255 per share. This represents a $1.02 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend was Monday, August 10th. Matthews International’s payout ratio is presently -109.68%.

Institutional Trading of Matthews International

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Ameriprise Financial Inc. boosted its holdings in shares of Matthews International by 9.0% in the second quarter. Ameriprise Financial Inc. now owns 1,664,426 shares of the company’s stock worth $39,796,000 after buying an additional 137,015 shares during the period. Dimensional Fund Advisors LP grew its stake in Matthews International by 5.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,614,201 shares of the company’s stock valued at $41,677,000 after acquiring an additional 83,860 shares in the last quarter. Gamco Investors INC. ET AL boosted its holdings in shares of Matthews International by 9.7% during the fourth quarter. Gamco Investors INC. ET AL now owns 1,554,105 shares of the company’s stock worth $40,593,000 after purchasing an additional 136,794 shares during the period. Allspring Global Investments Holdings LLC grew its position in Matthews International by 2.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,100,957 shares of the company’s stock valued at $27,832,000 after purchasing an additional 25,478 shares in the last quarter. Finally, Private Capital Management LLC increased its stake in 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 buying an additional 680,256 shares during the period. Institutional investors and hedge funds own 83.08% of the company’s stock.

Wall Street Analyst Weigh In

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

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.