Matthews International (NASDAQ:MATW) Director Acquires $69,180.00 in Stock

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

Matthews International Stock Performance

Shares of NASDAQ MATW opened at $21.97 on Thursday. The firm’s 50-day moving average price is $26.29 and its 200-day moving average price is $26.37. Matthews International Corporation has a 52-week low of $21.92 and a 52-week high of $30.93. The company has a market cap of $685.68 million, a PE ratio of -23.62 and a beta of 1.09. The company has a quick ratio of 1.02, a current ratio of 1.76 and a debt-to-equity ratio of 1.15.

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 negative net margin of 2.65% and a positive return on equity of 4.51%. The company had revenue of $246.02 million for the quarter, compared to the consensus estimate of $264.54 million. As a group, analysts anticipate that Matthews International Corporation will post 0.53 EPS for the current year.

Matthews International Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, August 10th will be paid a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date is Monday, August 10th. Matthews International’s dividend payout ratio (DPR) is -109.68%.

Institutional Investors Weigh In On Matthews International

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio bought a new position in Matthews International in the 2nd quarter worth $38,000. US Bancorp DE increased its position in Matthews International by 45.9% in the third quarter. US Bancorp DE now owns 2,063 shares of the company’s stock worth $50,000 after buying an additional 649 shares in the last quarter. Potomac Capital Management Inc. bought a new position in shares of Matthews International in the fourth quarter worth about $59,000. Tower Research Capital LLC TRC raised its stake in shares of Matthews International by 187.1% in the second 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. Finally, Tripletail Wealth Management LLC lifted 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 valued at $73,000 after buying an additional 1,900 shares in the last quarter. 83.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on MATW shares. Zacks Research downgraded Matthews International from a “hold” rating to a “strong sell” rating in a report on Monday, August 10th. Wall Street Zen downgraded Matthews International from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Finally, Weiss Ratings cut shares of Matthews International from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday. Two analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, Matthews International currently has a consensus 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.