Key Points
- Director J. Michael Nauman bought 1,900 Matthews International shares at an average price of $21.96, investing $41,724 and increasing his direct holdings by 26.46% to 9,081 shares. He also purchased 2,000 shares earlier in August.
- Matthews International reported quarterly EPS of $0.06, missing the $0.41 consensus estimate, while revenue of $246.02 million fell short of the $264.54 million forecast.
- The stock opened at $21.22, near its 52-week low, and analysts maintain a consensus “Sell” rating with a $24 price target. The company recently paid a quarterly dividend of $0.255 per share, representing a 4.8% annualized yield.
Matthews International Corporation (NASDAQ:MATW - Get Free Report) Director J Michael Nauman bought 1,900 shares of the company's stock in a transaction on Thursday, August 20th. The shares were acquired at an average price of $21.96 per share, with a total value of $41,724.00. Following the transaction, the director directly owned 9,081 shares in the company, valued at approximately $199,418.76. The trade was a 26.46% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available through this link.
J Michael Nauman also recently made the following trade(s):
- On Monday, August 10th, J Michael Nauman purchased 2,000 shares of Matthews International stock. The stock was bought at an average cost of $22.97 per share, for a total transaction of $45,940.00.
Matthews International Stock Down 0.2%
Shares of NASDAQ:MATW opened at $21.22 on Tuesday. The company has a 50 day moving average price of $25.99 and a two-hundred day moving average price of $26.26. 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 company has a market capitalization of $662.34 million, a PE ratio of -22.82 and a beta of 1.09. Matthews International Corporation has a 52 week low of $20.87 and a 52 week high of $30.93.
Matthews International (NASDAQ:MATW - Get Free Report) last announced 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 positive return on equity of 4.51% and a negative net margin of 2.65%.The firm had revenue of $246.02 million for the quarter, compared to the consensus estimate of $264.54 million. Analysts forecast that Matthews International Corporation will post 0.53 earnings per share for the current year.
Matthews International Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, August 24th. Shareholders of record on Monday, August 10th were issued a dividend of $0.255 per share. The ex-dividend date was Monday, August 10th. This represents a $1.02 annualized dividend and a yield of 4.8%. Matthews International's payout ratio is currently -109.68%.
Institutional Trading of Matthews International
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Steel Partners Holdings L.P. acquired a new position in Matthews International in the 4th quarter valued at $20,084,000. California State Teachers Retirement System lifted its holdings in shares of Matthews International by 2,813.7% during the second quarter. California State Teachers Retirement System now owns 777,100 shares of the company's stock worth $20,920,000 after buying an additional 750,429 shares in the last quarter. Private Capital Management LLC boosted its position in shares of 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 acquiring an additional 680,256 shares during the period. Simcoe Capital Management LLC acquired a new position in shares of Matthews International in the fourth quarter valued at about $8,763,000. Finally, Cannell Capital LLC bought a new position in Matthews International during the second quarter worth about $5,926,000. Institutional investors own 83.08% of the company's stock.
Analysts Set New Price Targets
Several equities research analysts have issued reports on the company. Wall Street Zen downgraded Matthews International from a "hold" rating to a "sell" rating in a report on Saturday, August 8th. Zacks Research cut Matthews International from a "hold" rating to a "strong sell" rating in a report on Monday, August 10th. Truist Financial started coverage on Matthews International in a research report on Friday. They issued a "hold" rating and a $24.00 price objective for the company. Finally, Weiss Ratings downgraded shares of Matthews International from a "sell (d+)" rating to a "sell (d)" rating in a report on Monday, August 17th. One investment analyst has rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Sell" and a consensus target price of $24.00.
Read Our Latest Report on Matthews International
Matthews International Company Profile
(
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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
