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

Matthews International Corporation (NASDAQ:MATW) Director J Michael Nauman acquired 1,000 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The shares were acquired at an average cost of $21.08 per share, for a total transaction of $21,080.00. Following the transaction, the director owned 10,081 shares of the company’s stock, valued at approximately $212,507.48. This represents a 11.01% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• On Thursday, August 20th, J Michael Nauman acquired 1,900 shares of Matthews International stock. The stock was acquired at an average cost of $21.96 per share, with a total value of $41,724.00.
• On Monday, August 10th, J Michael Nauman purchased 2,000 shares of Matthews International stock. The stock was bought at an average cost of $22.97 per share, with a total value of $45,940.00.

Matthews International Stock Performance

Matthews International stock traded up $0.15 during trading hours on Tuesday, reaching $21.37. 445,473 shares of the company were exchanged, compared to its average volume of 306,232. Matthews International Corporation has a 12 month low of $20.87 and a 12 month high of $30.93. The stock has a 50-day moving average of $25.99 and a 200 day moving average of $26.26. The company has a current ratio of 1.76, a quick ratio of 1.02 and a debt-to-equity ratio of 1.15. The firm has a market cap of $666.90 million, a price-to-earnings ratio of -22.97 and a beta of 1.09.

Matthews International (NASDAQ:MATW) last released its earnings results on Friday, August 7th. The company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.35). The firm 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, 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 announced a quarterly dividend, which was paid on Monday, August 24th. Investors of record on Monday, August 10th were given a dividend of $0.255 per share. The ex-dividend date of this dividend was Monday, August 10th. This represents a $1.02 dividend on an annualized basis and a yield of 4.8%. Matthews International’s payout ratio is -109.68%.

Institutional Investors Weigh In On Matthews International

Hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP increased 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 buying an additional 83,860 shares during the last quarter. UBS Group AG grew its holdings in shares of Matthews International by 45.2% in the 4th quarter. UBS Group AG now owns 151,700 shares of the company’s stock valued at $3,962,000 after acquiring an additional 47,246 shares in the last quarter. Equitable Trust Co. grew its holdings in shares of Matthews International by 223.6% in the 4th quarter. Equitable Trust Co. now owns 29,045 shares of the company’s stock valued at $759,000 after acquiring an additional 20,070 shares in the last quarter. Peapack Gladstone Financial Corp acquired a new stake in shares of Matthews International in the fourth quarter valued at about $679,000. Finally, Forty three Eighteen Advisors LLC bought a new stake in Matthews International during the fourth quarter worth about $1,583,000. Institutional investors and hedge funds own 83.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Truist Financial started coverage on Matthews International in a research report on Friday. They issued a “hold” rating and a $24.00 target price for the company. Zacks Research cut 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 report on Monday, August 17th. Finally, Wall Street Zen cut Matthews International from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. One investment analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Sell” and a consensus price target 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.