Insider Buying: Matthews International (NASDAQ:MATW) Director Purchases $45,940.00 in Stock

Matthews International Corporation (NASDAQ:MATW) Director J Michael Nauman acquired 2,000 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The stock was acquired at an average cost of $22.97 per share, with a total value of $45,940.00. Following the completion of the acquisition, the director owned 7,081 shares in the company, valued at $162,650.57. This trade represents a 39.36% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Matthews International Stock Up 0.4%

Matthews International stock opened at $23.25 on Friday. The firm has a 50 day simple moving average of $26.47 and a 200 day simple moving average of $26.45. The company has a current ratio of 1.76, a quick ratio of 1.02 and a debt-to-equity ratio of 1.15. Matthews International Corporation has a 1-year low of $21.95 and a 1-year high of $30.93. The firm has a market capitalization of $725.63 million, a price-to-earnings ratio of -25.00 and a beta of 1.09.

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 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 analysts’ expectations of $264.54 million. On average, analysts predict that Matthews International Corporation will post 0.53 earnings per share for the current year.

Matthews International Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have commented on MATW. Wall Street Zen downgraded Matthews International from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Zacks Research cut Matthews International from a “hold” rating to a “strong sell” rating in a research report on Monday, August 10th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Matthews International in a report on Monday, August 3rd. Two analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, Matthews International presently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. US Bancorp DE raised its position in shares of 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. purchased a new position in Matthews International during the fourth quarter worth about $59,000. Tower Research Capital LLC TRC grew its position in Matthews International by 187.1% during 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 in the last quarter. Tripletail Wealth Management LLC grew its position in Matthews International by 206.5% during the fourth quarter. Tripletail Wealth Management LLC now owns 2,820 shares of the company’s stock worth $73,000 after buying an additional 1,900 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its stake in Matthews International by 51.6% in the 2nd 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. Institutional investors own 83.08% of the company’s stock.

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.