Key Points
- Director Aleta Richards bought 3,000 Matthews International shares at an average price of $23.06, investing $69,180 and increasing her holdings by 31.46% to 12,535 shares.
- Matthews International’s latest quarter fell short of expectations, with EPS of $0.06 versus the $0.41 consensus and revenue of $246.02 million versus estimates of $264.54 million. The stock opened at $23.00 and was down 1.1%.
- The company declared a quarterly dividend of $0.255 per share, equivalent to a 4.4% annualized yield, but analysts maintain a “Sell” consensus after several recent rating downgrades.
Matthews International Corporation (NASDAQ:MATW - Get Free Report) Director Aleta Richards purchased 3,000 shares of the company's stock in a transaction on Friday, August 14th. The shares were purchased at an average price of $23.06 per share, for a total transaction of $69,180.00. Following the purchase, the director owned 12,535 shares in the company, valued at approximately $289,057.10. The trade was a 31.46% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Matthews International Stock Down 1.1%
Shares of MATW stock opened at $23.00 on Tuesday. Matthews International Corporation has a fifty-two week low of $21.95 and a fifty-two week high of $30.93. The firm has a market capitalization of $717.83 million, a PE ratio of -24.73 and a beta of 1.09. 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 stock's 50-day simple moving average is $26.43 and its 200-day simple moving average is $26.42.
Matthews International (NASDAQ:MATW - Get Free Report) last released its 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 firm had revenue of $246.02 million for the quarter, compared to analyst estimates of $264.54 million. Matthews International had a positive return on equity of 4.51% and a negative net margin of 2.65%. Equities analysts expect that Matthews International Corporation will post 0.53 earnings per share for the current year.
Matthews International Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, August 10th will be paid a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a yield of 4.4%. The ex-dividend date is Monday, August 10th. Matthews International's payout ratio is presently -109.68%.
Institutional Trading of Matthews International
A number of hedge funds have recently added to or reduced their stakes in MATW. Steel Partners Holdings L.P. acquired a new stake in Matthews International during the fourth quarter valued at $20,084,000. Private Capital Management LLC increased its holdings in Matthews International by 201.1% in the fourth 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 in the last quarter. Simcoe Capital Management LLC acquired a new position in shares of Matthews International in the fourth quarter worth about $8,763,000. Cannell Capital LLC acquired a new position in shares of Matthews International in the second quarter worth about $5,926,000. Finally, Focus Partners Wealth purchased a new stake in shares of Matthews International during the 4th quarter worth about $5,242,000. 83.08% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts have recently weighed in on the stock. Weiss Ratings reiterated a "sell (d+)" rating on shares of Matthews International in a research note on Monday, August 3rd. Zacks Research downgraded shares of Matthews International from a "hold" rating to a "strong sell" rating in a research report on Monday, August 10th. Finally, Wall Street Zen lowered shares of Matthews International from a "hold" rating to a "sell" rating in a report on Saturday, August 8th. Two investment analysts have rated the stock with a Sell rating, According to MarketBeat, the stock currently has a consensus rating of "Sell".
Check Out Our Latest Analysis on MATW
About Matthews International
(
Get Free Report)
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.
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