Matthews International Corporation (NASDAQ:MATW - Get Free Report) Director J Michael Nauman purchased 1,000 shares of the business's stock in a transaction dated Monday, August 24th. The shares were purchased at an average cost of $21.08 per share, for a total transaction of $21,080.00. Following the completion of the purchase, the director directly owned 10,081 shares of the company's stock, valued at approximately $212,507.48. This represents a 11.01% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
J Michael Nauman also recently made the following trade(s):
- On Thursday, August 20th, J Michael Nauman acquired 1,900 shares of Matthews International stock. The stock was purchased at an average cost of $21.96 per share, with a total value of $41,724.00.
- On Monday, August 10th, J Michael Nauman acquired 2,000 shares of Matthews International stock. The stock was acquired at an average price of $22.97 per share, with a total value of $45,940.00.
Matthews International Trading Up 1.3%
MATW opened at $21.50 on Wednesday. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.76 and a quick ratio of 1.02. Matthews International Corporation has a fifty-two week low of $20.87 and a fifty-two week high of $30.93. The company's 50 day moving average price is $25.89 and its two-hundred day moving average price is $26.23. The firm has a market capitalization of $671.01 million, a price-to-earnings ratio of -23.12 and a beta of 1.09.
Matthews International (NASDAQ:MATW - Get Free Report) last released its quarterly 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). The business had revenue of $246.02 million for the quarter, compared to the consensus estimate of $264.54 million. Matthews International had a negative net margin of 2.65% and a positive return on equity of 4.51%. As a group, research analysts predict 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 issued a dividend of $0.255 per share. The ex-dividend date of this dividend was Monday, August 10th. This represents a $1.02 annualized dividend and a yield of 4.7%. Matthews International's payout ratio is presently -109.68%.
Wall Street Analysts Forecast Growth
Several brokerages have recently weighed in on MATW. Wall Street Zen cut Matthews International from a "hold" rating to a "sell" rating in a research note on Saturday, August 8th. Weiss Ratings cut Matthews International from a "sell (d+)" rating to a "sell (d)" rating in a report on Monday, August 17th. Truist Financial assumed coverage on shares of Matthews International in a research report on Friday, August 21st. They set a "hold" rating and a $24.00 target price for the company. Finally, Zacks Research lowered shares of Matthews International from a "hold" rating to a "strong sell" rating in a report on Monday, August 10th. One investment analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Matthews International currently has an average rating of "Sell" and a consensus price target of $24.00.
Get Our Latest Stock Report on MATW
Institutional Inflows and Outflows
A number of institutional investors have recently modified their holdings of the stock. California State Teachers Retirement System grew its holdings in Matthews International by 2,813.7% in the second quarter. California State Teachers Retirement System now owns 777,100 shares of the company's stock worth $20,920,000 after purchasing an additional 750,429 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of Matthews International during the second quarter valued at about $38,000. Amundi acquired a new position in shares of Matthews International during the first quarter valued at about $287,000. Quantinno Capital Management LP boosted its position in shares of Matthews International by 37.9% during the 1st quarter. Quantinno Capital Management LP now owns 12,612 shares of the company's stock worth $326,000 after purchasing an additional 3,468 shares in the last quarter. Finally, Sei Investments Co. boosted its position in shares of Matthews International by 12.9% during the 1st quarter. Sei Investments Co. now owns 233,065 shares of the company's stock worth $6,018,000 after purchasing an additional 26,572 shares in the last quarter. Institutional investors and hedge funds own 83.08% of the company's stock.
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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