Matthews International (NASDAQ:MATW) Director Buys $41,724.00 in Stock

Matthews International Corporation (NASDAQ:MATW) Director J Michael Nauman acquired 1,900 shares of the firm’s stock in a transaction dated Thursday, August 20th. The shares were purchased at an average price of $21.96 per share, with a total value of $41,724.00. Following the completion of the transaction, the director owned 9,081 shares of the company’s stock, valued at $199,418.76. This trade represents a 26.46% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Monday, August 24th, J Michael Nauman bought 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 purchased at an average cost of $22.97 per share, for a total transaction of $45,940.00.

Matthews International Stock Performance

Shares of MATW opened at $21.55 on Thursday. 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’s fifty day simple moving average is $25.81 and its two-hundred day simple moving average is $26.20. Matthews International Corporation has a 12 month low of $20.87 and a 12 month high of $30.93. The stock has a market capitalization of $672.58 million, a P/E ratio of -23.17 and a beta of 1.09.

Matthews International (NASDAQ:MATW) last posted 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 positive return on equity of 4.51% and a negative net margin of 2.65%.The business had revenue of $246.02 million during the quarter, compared to the consensus estimate of $264.54 million. As a group, analysts predict that Matthews International Corporation will post 0.53 EPS for the current year.

Matthews International Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 24th. Shareholders of record on Monday, August 10th were paid a $0.255 dividend. The ex-dividend date of this dividend was Monday, August 10th. This represents a $1.02 annualized dividend and a yield of 4.7%. Matthews International’s payout ratio is -109.68%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Steel Partners Holdings L.P. bought a new stake in shares of Matthews International in the 4th quarter worth $20,084,000. California State Teachers Retirement System boosted its holdings in Matthews International by 2,813.7% during the second quarter. California State Teachers Retirement System now owns 777,100 shares of the company’s stock worth $20,920,000 after purchasing an additional 750,429 shares during the last quarter. Private Capital Management LLC grew its position 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 worth $26,605,000 after purchasing an additional 680,256 shares in the last quarter. Simcoe Capital Management LLC bought a new stake in Matthews International in the 4th quarter worth about $8,763,000. Finally, Cannell Capital LLC purchased a new stake in Matthews International in the 2nd quarter valued at about $5,926,000. Institutional investors and hedge funds own 83.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MATW. Truist Financial assumed coverage on shares of Matthews International in a research note on Friday, August 21st. They issued a “hold” rating and a $24.00 price objective for the company. Weiss Ratings cut shares of Matthews International from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, August 17th. 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 report on Saturday, August 8th. One equities research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company. 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.