Matthews International (NASDAQ:MATW) Director Acquires $19,990.00 in Stock

Matthews International Corporation (NASDAQ:MATW) Director J Nauman purchased 1,000 shares of the stock in a transaction dated Friday, September 11th. The shares were acquired at an average price of $19.99 per share, with a total value of $19,990.00. Following the transaction, the director owned 11,081 shares in the company, valued at $221,509.19. This trade represents a 9.92% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Monday, August 24th, J Nauman acquired 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 acquired 1,900 shares of Matthews International stock. The stock was acquired at an average cost of $21.96 per share, for a total transaction of $41,724.00.
• On Monday, August 10th, J Nauman acquired 2,000 shares of Matthews International stock. The stock was acquired at an average cost of $22.97 per share, for a total transaction of $45,940.00.

Matthews International Price Performance

MATW opened at $20.15 on Friday. The company has a fifty day moving average price of $23.88 and a two-hundred day moving average price of $25.53. The firm has a market capitalization of $628.88 million, a PE ratio of -21.67 and a beta of 1.04. Matthews International Corporation has a 52 week low of $19.58 and a 52 week high of $30.93. 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 (NASDAQ:MATW) last posted its quarterly earnings results 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 during the quarter, compared to analyst estimates of $264.54 million. As a group, analysts anticipate that Matthews International Corporation will post 0.53 earnings per share for the current year.

Matthews International Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 24th. Shareholders 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 annualized dividend and a yield of 5.1%. Matthews International’s dividend payout ratio is presently -109.68%.

Analysts Set New Price Targets

MATW has been the subject of a number of recent analyst reports. Truist Financial started coverage on Matthews International in a research note on Friday, August 21st. They issued a “hold” rating and a $24.00 price target for the company. Zacks Research lowered shares of Matthews International from a “hold” rating to a “strong sell” rating in a research note on Monday, August 10th. Wall Street Zen cut shares of Matthews International from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Finally, 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. One investment analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Matthews International has an average rating of “Sell” and a consensus target price of $24.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MATW. Public Employees Retirement System of Ohio bought a new position in shares of Matthews International during the second quarter worth about $38,000. Potomac Capital Management Inc. bought a new stake in Matthews International in the 4th quarter valued at approximately $59,000. Fifth Third Bancorp lifted its stake in Matthews International by 40,261.1% in the 1st quarter. Fifth Third Bancorp now owns 7,265 shares of the company’s stock valued at $188,000 after acquiring an additional 7,247 shares in the last quarter. Teton Advisors LLC acquired a new position in Matthews International during the 4th quarter worth approximately $209,000. Finally, Janney Montgomery Scott LLC boosted its position in Matthews International by 9.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 10,801 shares of the company’s stock worth $279,000 after acquiring an additional 971 shares during the last quarter. 83.08% of the stock is owned by institutional investors and hedge funds.

About Matthews International

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.