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

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

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

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

Matthews International Trading Down 0.2%

Shares of MATW stock opened at $21.22 on Tuesday. Matthews International Corporation has a 52-week low of $20.87 and a 52-week high of $30.93. The stock has a market cap of $662.34 million, a price-to-earnings ratio of -22.82 and a beta of 1.09. 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 firm has a fifty day moving average of $25.99 and a 200-day moving average of $26.26.

Matthews International (NASDAQ:MATW) last announced its quarterly earnings results on Friday, August 7th. The company reported $0.06 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 the consensus estimate of $264.54 million. Matthews International had a positive return on equity of 4.51% and a negative net margin of 2.65%. On average, equities research analysts forecast that Matthews International Corporation will post 0.53 earnings per share for the current fiscal year.

Matthews International Dividend Announcement

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. This represents a $1.02 annualized dividend and a dividend yield of 4.8%. The ex-dividend date was Monday, August 10th. Matthews International’s dividend payout ratio (DPR) is -109.68%.

Analyst Ratings Changes

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

Hedge Funds Weigh In On Matthews International

Large investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio acquired a new stake in shares of Matthews International in the 2nd quarter valued at $38,000. US Bancorp DE boosted its stake in shares of Matthews International by 45.9% in the 3rd quarter. US Bancorp DE now owns 2,063 shares of the company’s stock valued at $50,000 after purchasing an additional 649 shares during the last quarter. Potomac Capital Management Inc. bought a new position in shares of Matthews International in the 4th quarter valued at about $59,000. Tripletail Wealth Management LLC grew its position in shares of Matthews International by 206.5% during the 4th quarter. Tripletail Wealth Management LLC now owns 2,820 shares of the company’s stock worth $73,000 after buying an additional 1,900 shares during the period. Finally, Tower Research Capital LLC TRC grew its position in shares of Matthews International by 187.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,885 shares of the company’s stock worth $69,000 after buying an additional 1,880 shares during the period. 83.08% of the stock is currently owned by institutional investors and hedge funds.

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.