J Michael Nauman Buys 2,000 Shares of Matthews International (NASDAQ:MATW) Stock

Matthews International Corporation (NASDAQ:MATW) Director J Michael Nauman purchased 2,000 shares of the company’s stock in a transaction on Monday, August 10th. The shares were purchased at an average price of $22.97 per share, with a total value of $45,940.00. Following the completion of the purchase, the director directly owned 7,081 shares of the company’s stock, valued at $162,650.57. The trade was a 39.36% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Matthews International Stock Performance

NASDAQ MATW opened at $23.15 on Friday. The firm has a market capitalization of $722.51 million, a P/E ratio of -24.89 and a beta of 1.09. Matthews International Corporation has a 1-year low of $21.95 and a 1-year high of $30.93. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.76 and a quick ratio of 1.02. The business’s 50-day simple moving average is $26.52 and its 200-day simple moving average is $26.47.

Matthews International (NASDAQ:MATW) last posted 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). 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 for the quarter, compared to analyst estimates of $264.54 million. Equities analysts predict that Matthews International Corporation will post 0.53 EPS for the current year.

Matthews International Dividend Announcement

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. US Bancorp DE increased its stake in Matthews International by 45.9% during the 3rd quarter. US Bancorp DE now owns 2,063 shares of the company’s stock worth $50,000 after buying an additional 649 shares during the period. Potomac Capital Management Inc. purchased a new position in Matthews International in the 4th quarter valued at about $59,000. Tower Research Capital LLC TRC grew its stake in shares of Matthews International by 187.1% during the second quarter. Tower Research Capital LLC TRC now owns 2,885 shares of the company’s stock valued at $69,000 after acquiring an additional 1,880 shares in the last quarter. Tripletail Wealth Management LLC grew its stake in shares of Matthews International by 206.5% during the fourth quarter. Tripletail Wealth Management LLC now owns 2,820 shares of the company’s stock valued at $73,000 after acquiring an additional 1,900 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its position in shares of Matthews International by 51.6% during the second quarter. BNP Paribas Financial Markets now owns 3,080 shares of the company’s stock worth $74,000 after acquiring an additional 1,048 shares during the last quarter. 83.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Wall Street Zen lowered shares of Matthews International from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Zacks Research downgraded Matthews International from a “hold” rating to a “strong sell” rating in a report on Monday. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Matthews International in a research report on Monday, August 3rd. Two investment analysts have rated the stock with a Sell rating, According to MarketBeat.com, the company has an average rating of “Sell”.

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.