Aleta Richards Purchases 3,000 Shares of Matthews International (NASDAQ:MATW) Stock

Matthews International Corporation (NASDAQ:MATW) Director Aleta Richards acquired 3,000 shares of the firm’s stock in a transaction on Friday, August 14th. The stock was purchased at an average cost of $23.06 per share, with a total value of $69,180.00. Following the purchase, the director owned 12,535 shares of the company’s stock, valued at $289,057.10. The trade was a 31.46% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Matthews International Trading Down 3.0%

MATW opened at $22.32 on Wednesday. The stock has a market cap of $696.67 million, a price-to-earnings ratio of -24.00 and a beta of 1.09. The stock’s 50 day moving average price is $26.36 and its 200-day moving average price is $26.40. Matthews International Corporation has a one year low of $21.95 and a one year high of $30.93. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.02 and a current ratio of 1.76.

Matthews International (NASDAQ:MATW) last issued its quarterly earnings results on Friday, August 7th. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $246.02 million during the quarter, compared to analysts’ expectations of $264.54 million. On average, equities analysts forecast that Matthews International Corporation will post 0.53 EPS for the current year.

Matthews International Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, August 10th will be paid a $0.255 dividend. The ex-dividend date is Monday, August 10th. This represents a $1.02 dividend on an annualized basis and a yield of 4.6%. Matthews International’s dividend payout ratio (DPR) is presently -109.68%.

Institutional Investors Weigh In On Matthews International

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD grew its stake in Matthews International by 0.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 81,127 shares of the company’s stock valued at $2,121,000 after purchasing an additional 606 shares during the last quarter. US Bancorp DE boosted 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 buying an additional 649 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in Matthews International by 25.0% in the 2nd quarter. Smartleaf Asset Management LLC now owns 3,445 shares of the company’s stock worth $84,000 after buying an additional 689 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Matthews International by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,686 shares of the company’s stock worth $393,000 after buying an additional 780 shares during the last quarter. Finally, Illinois Municipal Retirement Fund lifted its stake in Matthews International by 5.2% during the 1st quarter. Illinois Municipal Retirement Fund now owns 15,969 shares of the company’s stock valued at $412,000 after acquiring an additional 786 shares during the period. 83.08% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Weiss Ratings reissued 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 note 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 equities research analysts have rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has an average rating of “Sell”.

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.