Matthews International (NASDAQ:MATW) Research Coverage Started at Truist Financial

Truist Financial started coverage on shares of Matthews International (NASDAQ:MATW) in a report released on Friday, MarketBeat.com reports. The firm issued a hold rating and a $24.00 price target on the stock.

Other analysts also recently issued reports about the stock. Zacks Research downgraded shares of Matthews International from a “hold” rating to a “strong sell” rating in a report on Monday, August 10th. Weiss Ratings downgraded Matthews International from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, August 17th. Finally, Wall Street Zen lowered Matthews International from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. One analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Sell” and an average target price of $24.00.

Matthews International Stock Performance

Shares of MATW opened at $21.27 on Friday. Matthews International has a 1-year low of $21.17 and a 1-year high of $30.93. The company has a market capitalization of $663.84 million, a P/E ratio of -22.87 and a beta of 1.09. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.76 and a quick ratio of 1.02. The firm’s 50 day simple moving average is $26.09 and its 200 day simple moving average is $26.30.

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). The company had revenue of $246.02 million during the quarter, compared to analysts’ expectations of $264.54 million. Matthews International had a positive return on equity of 4.51% and a negative net margin of 2.65%. Sell-side analysts forecast that Matthews International will post 0.53 earnings per share for the current fiscal year.

Matthews International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, August 10th will be issued a dividend of $0.255 per share. The ex-dividend date of this dividend is Monday, August 10th. This represents a $1.02 annualized dividend and a dividend yield of 4.8%. Matthews International’s dividend payout ratio (DPR) is currently -109.68%.

Insiders Place Their Bets

In other Matthews International news, Director Aleta W. Richards bought 3,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the director directly owned 12,535 shares in the company, valued at $289,057.10. This trade represents a 31.46% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director J Michael Nauman purchased 2,000 shares of the stock in a transaction 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 purchase, the director directly owned 7,081 shares of the company’s stock, valued at $162,650.57. The trade was a 39.36% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. 4.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Matthews International

A number of hedge funds and other institutional investors have recently modified their holdings of MATW. Public Employees Retirement System of Ohio purchased a new stake in Matthews International during the 2nd quarter valued at about $38,000. US Bancorp DE lifted 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 valued at $50,000 after purchasing an additional 649 shares during the last quarter. Potomac Capital Management Inc. bought a new stake in Matthews International in the fourth quarter valued at approximately $59,000. Tripletail Wealth Management LLC boosted its stake in shares of Matthews International by 206.5% during the fourth quarter. Tripletail Wealth Management LLC now owns 2,820 shares of the company’s stock valued at $73,000 after purchasing an additional 1,900 shares during the period. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Matthews International by 187.1% during the second quarter. Tower Research Capital LLC TRC now owns 2,885 shares of the company’s stock valued at $69,000 after purchasing an additional 1,880 shares during the period. 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.