Key Points
- Director J. Nauman bought 1,000 Matthews International shares at $19.99 each, increasing his direct ownership by 9.92% to 11,081 shares. He has also made three additional purchases since August.
- Matthews International reported quarterly EPS of $0.06, well below the $0.41 analyst consensus, while revenue of $246.02 million missed expectations of $264.54 million.
- Analyst sentiment is bearish, with the stock carrying an average “Sell” rating and a $24 target price. The company pays a quarterly dividend of $0.255 per share, representing a 5.1% annualized yield.
Matthews International Corporation (NASDAQ:MATW - Get Free Report) Director J Nauman purchased 1,000 shares of the company's stock in a transaction dated Friday, September 11th. The shares were acquired at an average price of $19.99 per share, for a total transaction of $19,990.00. Following the purchase, the director directly owned 11,081 shares in the company, valued at approximately $221,509.19. The trade was a 9.92% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.
J Michael Nauman also recently made the following trade(s):
- On Monday, August 24th, J Nauman acquired 1,000 shares of Matthews International stock. The shares were acquired at an average cost of $21.08 per share, with a total value of $21,080.00.
- On Thursday, August 20th, J Nauman acquired 1,900 shares of Matthews International stock. The stock was bought at an average price of $21.96 per share, with a total value of $41,724.00.
- On Monday, August 10th, J Nauman bought 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 Price Performance
NASDAQ MATW opened at $20.10 on Wednesday. The company has a market capitalization of $627.32 million, a PE ratio of -21.61 and a beta of 1.04. 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 business's fifty day moving average is $24.14 and its 200 day moving average is $25.62. Matthews International Corporation has a fifty-two week low of $19.58 and a fifty-two week high of $30.93.
Matthews International (NASDAQ:MATW - Get Free Report) last issued 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). 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 during the quarter, compared to analysts' expectations of $264.54 million. Sell-side 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 was paid on Monday, August 24th. Investors of record on Monday, August 10th were paid a dividend of $0.255 per share. The ex-dividend date was Monday, August 10th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 5.1%. Matthews International's payout ratio is -109.68%.
Analyst Ratings Changes
A number of research firms have commented on MATW. Weiss Ratings cut shares of Matthews International from a "sell (d+)" rating to a "sell (d)" rating in a research note on Monday, August 17th. Zacks Research cut shares of Matthews International from a "hold" rating to a "strong sell" rating in a research note on Monday, August 10th. Wall Street Zen downgraded shares of Matthews International from a "hold" rating to a "sell" rating in a research report on Saturday, August 8th. Finally, Truist Financial began coverage on shares of Matthews International in a research note on Friday, August 21st. They set a "hold" rating and a $24.00 target price on the stock. One investment analyst has rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Matthews International has an average rating of "Sell" and an average target price of $24.00.
Read Our Latest Report on Matthews International
Institutional Trading of Matthews International
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio bought a new position in Matthews International during the second quarter valued at approximately $38,000. Potomac Capital Management Inc. bought a new stake in Matthews International in the 4th quarter worth approximately $59,000. Fifth Third Bancorp increased its stake in Matthews International by 40,261.1% in the 1st quarter. Fifth Third Bancorp now owns 7,265 shares of the company's stock worth $188,000 after acquiring an additional 7,247 shares during the last quarter. Teton Advisors LLC purchased a new stake in shares of Matthews International during the 4th quarter worth approximately $209,000. Finally, Janney Montgomery Scott LLC raised its holdings in shares of Matthews International by 9.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 10,801 shares of the company's stock worth $279,000 after acquiring an additional 971 shares in the last quarter. 83.08% of the stock is currently owned by institutional investors.
About Matthews International
(
Get Free Report)
Matthews International Corporation (NASDAQ:MATW) is a global provider of products and services for memorialization, industrial automation and identification, and brand development. Founded in Pittsburgh in 1850, the company has built a diverse portfolio serving funeral homes, cemeteries, manufacturers, consumer brands, and other commercial customers.
Through its Memorialization businesses, Matthews supplies products and services used in burial and cremation, including mausoleums, cremation systems, caskets, urns, bronze memorials, cemetery products, and related software and operational services.
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