J Michael Nauman Buys 1,000 Shares of Matthews International (NASDAQ:MATW) Stock

Matthews International Corporation (NASDAQ:MATW) Director J Nauman bought 1,000 shares of the firm’s stock in a transaction that occurred on Friday, September 11th. The shares were purchased at an average cost of $19.99 per share, for a total transaction of $19,990.00. Following the completion of the transaction, the director owned 11,081 shares of the company’s stock, valued at $221,509.19. This represents 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 available at the SEC website.

J Michael Nauman also recently made the following trade(s):

• On Monday, August 24th, J Nauman purchased 1,000 shares of Matthews International stock. The shares were purchased at an average price of $21.08 per share, for a total transaction of $21,080.00.
• On Thursday, August 20th, J Nauman purchased 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 Nauman acquired 2,000 shares of Matthews International stock. The stock was purchased at an average price of $22.97 per share, with a total value of $45,940.00.

Matthews International Price Performance

Shares of NASDAQ:MATW opened at $19.95 on Thursday. Matthews International Corporation has a 1-year low of $19.58 and a 1-year high of $30.93. The firm has a market capitalization of $622.64 million, a PE ratio of -21.45 and a beta of 1.04. The business’s 50 day moving average is $24.01 and its 200-day moving average is $25.58. The company has a current ratio of 1.76, a quick ratio of 1.02 and a debt-to-equity ratio of 1.15.

Matthews International (NASDAQ:MATW) last issued 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). Matthews International had a negative net margin of 2.65% and a positive return on equity of 4.51%. The firm had revenue of $246.02 million during the quarter, compared to analyst estimates 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 firm also recently announced a quarterly dividend, which was paid on Monday, August 24th. Investors of record on Monday, August 10th were paid a $0.255 dividend. The ex-dividend date of this dividend was Monday, August 10th. This represents a $1.02 dividend on an annualized basis and a yield of 5.1%. Matthews International’s payout ratio is presently -109.68%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP grew its holdings in shares of Matthews International by 5.5% during the first quarter. Dimensional Fund Advisors LP now owns 1,614,201 shares of the company’s stock worth $41,677,000 after purchasing an additional 83,860 shares during the last quarter. UBS Group AG raised its holdings in shares of Matthews International by 45.2% in the fourth quarter. UBS Group AG now owns 151,700 shares of the company’s stock valued at $3,962,000 after buying an additional 47,246 shares during the last quarter. Hsbc Holdings PLC acquired a new position in Matthews International during the 4th quarter worth about $603,000. Forty three Eighteen Advisors LLC acquired a new position in Matthews International during the 4th quarter worth about $1,583,000. Finally, Peapack Gladstone Financial Corp bought a new stake in Matthews International during the 4th quarter worth about $679,000. Institutional investors own 83.08% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Truist Financial assumed coverage on Matthews International in a report on Friday, August 21st. They set a “hold” rating and a $24.00 price objective on the stock. Zacks Research lowered Matthews International from a “hold” rating to a “strong sell” rating in a research note on Monday, August 10th. Weiss Ratings cut Matthews International from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, August 17th. Finally, Wall Street Zen cut Matthews International from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. One investment analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Matthews International has a consensus rating of “Sell” and a consensus target price of $24.00.

Matthews International Company Profile

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.