Matthews International (NASDAQ:MATW) Director J Michael Nauman Purchases 1,000 Shares

Matthews International Corporation (NASDAQ:MATW) Director J Nauman acquired 1,000 shares of the stock in a transaction that occurred on Friday, September 11th. The stock was acquired at an average price of $19.99 per share, for a total transaction of $19,990.00. Following the transaction, the director directly owned 11,081 shares of the company’s stock, valued at $221,509.19. This represents a 9.92% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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

• On Monday, August 24th, J Nauman bought 1,000 shares of Matthews International stock. The stock was acquired at an average price of $21.08 per share, for a total transaction of $21,080.00.
• On Thursday, August 20th, J Nauman purchased 1,900 shares of Matthews International stock. The shares were acquired at an average price of $21.96 per share, with a total value of $41,724.00.
• On Monday, August 10th, J Nauman acquired 2,000 shares of Matthews International stock. The shares were acquired at an average cost of $22.97 per share, with a total value of $45,940.00.

Matthews International Price Performance

MATW traded down $0.01 on Tuesday, reaching $19.90. The company had a trading volume of 341,964 shares, compared to its average volume of 340,807. Matthews International Corporation has a 52-week low of $19.58 and a 52-week high of $30.93. The company has a market cap of $621.14 million, a price-to-earnings ratio of -21.44 and a beta of 1.04. 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 business has a 50 day simple moving average of $24.28 and a 200 day simple moving average of $25.67.

Matthews International (NASDAQ:MATW) last released 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). 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 during the quarter, compared to analysts’ expectations of $264.54 million. As a group, sell-side analysts anticipate that Matthews International Corporation will post 0.53 EPS for the current year.

Matthews International Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, August 24th. Shareholders of record on Monday, August 10th were given a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a yield of 5.1%. The ex-dividend date was Monday, August 10th. Matthews International’s dividend payout ratio is presently -109.68%.

Wall Street Analyst Weigh In

Several research firms have recently commented on MATW. Truist Financial started coverage on Matthews International in a report on Friday, August 21st. They issued a “hold” rating and a $24.00 price objective on the stock. Weiss Ratings lowered Matthews International from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, August 17th. Zacks Research cut Matthews International from a “hold” rating to a “strong sell” rating in a research note on Monday, August 10th. Finally, Wall Street Zen downgraded Matthews International from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. One investment analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Sell” and an average price target of $24.00.

Hedge Funds Weigh In On Matthews International

A number of hedge funds have recently modified their holdings of the company. Gamco Investors INC. ET AL raised its stake in shares of Matthews International by 9.7% during the fourth quarter. Gamco Investors INC. ET AL now owns 1,554,105 shares of the company’s stock valued at $40,593,000 after acquiring an additional 136,794 shares during the last quarter. Barington Companies Management LLC grew its stake in shares of Matthews International by 9.6% in the fourth quarter. Barington Companies Management LLC now owns 1,000,000 shares of the company’s stock worth $26,120,000 after purchasing an additional 87,196 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in Matthews International by 498,188.2% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 84,709 shares of the company’s stock valued at $2,213,000 after purchasing an additional 84,692 shares during the period. Dimensional Fund Advisors LP increased its holdings in Matthews International by 5.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,614,201 shares of the company’s stock valued at $41,677,000 after purchasing an additional 83,860 shares during the period. Finally, Intech Investment Management LLC raised its position in Matthews International by 228.3% during the 4th quarter. Intech Investment Management LLC now owns 101,041 shares of the company’s stock valued at $2,639,000 after purchasing an additional 70,264 shares during the last quarter. Hedge funds and other institutional investors own 83.08% of the company’s stock.

Matthews International Company Profile

Matthews International Corporation (NASDAQ:MATW) is a global provider of products and services for memorialization, industrial automation and identification, and brand development. Founded in Pittsburgh in 1850, the company has built a diverse portfolio serving funeral homes, cemeteries, manufacturers, consumer brands, and other commercial customers.

Through its Memorialization businesses, Matthews supplies products and services used in burial and cremation, including mausoleums, cremation systems, caskets, urns, bronze memorials, cemetery products, and related software and operational services.