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

Matthews International Corporation (NASDAQ:MATW) Director Aleta Richards bought 3,000 shares of the company’s stock in a transaction on Friday, August 14th. The shares were bought at an average cost of $23.06 per share, for a total transaction of $69,180.00. Following the transaction, the director directly owned 12,535 shares in the company, valued at approximately $289,057.10. This represents a 31.46% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Matthews International Trading Down 1.1%

Shares of NASDAQ:MATW opened at $23.00 on Tuesday. The company has a market capitalization of $717.83 million, a PE ratio of -24.73 and a beta of 1.09. 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 Corporation has a 12-month low of $21.95 and a 12-month high of $30.93. The business’s fifty day simple moving average is $26.43 and its 200-day simple moving average is $26.42.

Matthews International (NASDAQ:MATW) last issued its quarterly earnings data 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). Matthews International had a positive return on equity of 4.51% and a negative net margin of 2.65%.The company had revenue of $246.02 million for the quarter, compared to analysts’ expectations of $264.54 million. As a group, equities research analysts predict that Matthews International Corporation will post 0.53 earnings per share for the current fiscal year.

Matthews International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, August 10th will be given a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend is Monday, August 10th. Matthews International’s dividend payout ratio is presently -109.68%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on MATW shares. Zacks Research downgraded shares of 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 research note on Saturday, August 8th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Matthews International in a report on Monday, August 3rd. Two investment analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Matthews International

Large investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio acquired a new position in shares of Matthews International during the second quarter valued at about $38,000. US Bancorp DE boosted its stake in Matthews International by 45.9% in the 3rd quarter. US Bancorp DE now owns 2,063 shares of the company’s stock worth $50,000 after purchasing an additional 649 shares in the last quarter. Potomac Capital Management Inc. purchased a new stake in Matthews International during the 4th quarter worth approximately $59,000. Tripletail Wealth Management LLC increased its stake in Matthews International by 206.5% during the 4th quarter. Tripletail Wealth Management LLC now owns 2,820 shares of the company’s stock valued at $73,000 after purchasing an additional 1,900 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its stake 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 valued at $69,000 after purchasing an additional 1,880 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.