Matthews International (NASDAQ:MATW) Director J Michael Nauman Purchases 1,000 Shares of Stock

Matthews International Corporation (NASDAQ:MATW) Director J Michael Nauman acquired 1,000 shares of the firm’s stock in a transaction on 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 acquisition, the director owned 10,081 shares in the company, valued at approximately $212,507.48. This represents a 11.01% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 purchased 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 shares were purchased at an average cost of $22.97 per share, with a total value of $45,940.00.

Matthews International Trading Up 1.3%

MATW stock opened at $21.50 on Wednesday. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.02 and a current ratio of 1.76. The company has a market capitalization of $671.01 million, a PE ratio of -23.12 and a beta of 1.09. Matthews International Corporation has a 52 week low of $20.87 and a 52 week high of $30.93. The company’s 50-day simple moving average is $25.89 and its 200 day simple moving average is $26.23.

Matthews International (NASDAQ:MATW) last announced its earnings results on Friday, August 7th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.35). The business had revenue of $246.02 million for the quarter, compared to analyst estimates of $264.54 million. Matthews International had a positive return on equity of 4.51% and a negative net margin of 2.65%. As a group, sell-side 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 was paid on Monday, August 24th. Investors of record on Monday, August 10th were given a $0.255 dividend. The ex-dividend date was Monday, August 10th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 4.7%. Matthews International’s dividend payout ratio (DPR) is presently -109.68%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in MATW. Dimensional Fund Advisors LP lifted its stake in Matthews International by 5.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,614,201 shares of the company’s stock valued at $41,677,000 after purchasing an additional 83,860 shares during the last quarter. UBS Group AG grew its stake in shares of Matthews International by 45.2% during the fourth quarter. UBS Group AG now owns 151,700 shares of the company’s stock worth $3,962,000 after buying an additional 47,246 shares during the last quarter. Equitable Trust Co. grew its stake in shares of Matthews International by 223.6% during the fourth quarter. Equitable Trust Co. now owns 29,045 shares of the company’s stock worth $759,000 after buying an additional 20,070 shares during the last quarter. Peapack Gladstone Financial Corp acquired a new position in shares of Matthews International during the fourth quarter worth $679,000. Finally, Forty three Eighteen Advisors LLC acquired a new position in shares of Matthews International during the fourth quarter worth $1,583,000. Institutional investors own 83.08% of the company’s stock.

Analyst Upgrades and Downgrades

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

About Matthews International

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.