J Michael Nauman Buys 1,000 Shares of Matthews International (NASDAQ:MATW) Stock

Matthews International Corporation (NASDAQ:MATW) Director J Michael Nauman acquired 1,000 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The stock was acquired at an average price of $21.08 per share, with a total value of $21,080.00. Following the completion of the transaction, the director directly owned 10,081 shares in the company, valued at $212,507.48. This trade represents a 11.01% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Thursday, August 20th, J Michael Nauman bought 1,900 shares of Matthews International stock. The shares were acquired at an average cost of $21.96 per share, with a total value of $41,724.00.
• On Monday, August 10th, J Michael Nauman bought 2,000 shares of Matthews International stock. The shares were bought at an average price 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 debt-to-equity ratio of 1.15, a quick ratio of 1.02 and a current ratio of 1.76. Matthews International Corporation has a twelve month low of $20.87 and a twelve month high of $30.93. The firm’s 50 day moving average price is $25.81 and its two-hundred day moving average price is $26.20. The firm has a market cap of $672.58 million, a P/E ratio of -23.17 and a beta of 1.09.

Matthews International (NASDAQ:MATW) last issued its quarterly earnings data on Friday, August 7th. The company reported $0.06 earnings per share (EPS) 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 company had revenue of $246.02 million for the quarter, compared to the consensus estimate of $264.54 million. On average, analysts forecast that Matthews International Corporation will post 0.53 EPS for the current fiscal year.

Matthews International Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, August 24th. Investors 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 dividend on an annualized basis and a yield of 4.7%. Matthews International’s dividend payout ratio is presently -109.68%.

Institutional Investors Weigh In On Matthews International

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Steel Partners Holdings L.P. acquired a new position in shares of Matthews International during the 4th quarter worth approximately $20,084,000. California State Teachers Retirement System boosted its holdings in shares of Matthews International by 2,813.7% in the 2nd quarter. California State Teachers Retirement System now owns 777,100 shares of the company’s stock valued at $20,920,000 after buying an additional 750,429 shares during the last quarter. Private Capital Management LLC boosted its holdings in shares of Matthews International by 201.1% in the 4th quarter. Private Capital Management LLC now owns 1,018,587 shares of the company’s stock valued at $26,605,000 after buying an additional 680,256 shares during the last quarter. Simcoe Capital Management LLC bought a new position in shares of Matthews International in the fourth quarter valued at $8,763,000. Finally, Cannell Capital LLC acquired a new position in Matthews International during the second quarter worth $5,926,000. 83.08% of the stock is owned by institutional investors.

Analyst Ratings Changes

MATW has been the topic of several recent research reports. Zacks Research downgraded Matthews International from a “hold” rating to a “strong sell” rating in a research note on Monday, August 10th. Truist Financial started coverage on Matthews International in a report on Friday, August 21st. They set a “hold” rating and a $24.00 price objective for the company. Weiss Ratings lowered Matthews International from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, August 17th. Finally, Wall Street Zen cut Matthews International from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. One investment analyst has rated the stock with a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Matthews International has a consensus rating of “Sell” and a consensus target price of $24.00.

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.