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

Key Points

• Director J. Michael Nauman bought 1,000 Matthews International shares at an average price of $21.08, increasing his direct ownership by 11.01% to 10,081 shares. He has also purchased 3,900 shares in two other August transactions.
• Matthews International shares traded near $21.37, close to their one-year low of $20.87. The company’s latest quarterly results missed expectations, reporting $0.06 EPS versus $0.41 expected and revenue of $246.02 million versus $264.54 million forecast.
• The company pays a quarterly dividend of $0.255 per share, representing a 4.8% annualized yield, but analyst sentiment remains negative: the stock carries a consensus “Sell” rating and a $24 average price target.

Matthews International Corporation (NASDAQ:MATW - Get Free Report) Director J Michael Nauman purchased 1,000 shares of the stock in a transaction that occurred on Monday, August 24th. The stock was acquired at an average cost of $21.08 per share, with a total value of $21,080.00. Following the completion of the acquisition, the director directly owned 10,081 shares of the company's stock, valued at $212,507.48. This represents a 11.01% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Thursday, August 20th, J Michael Nauman purchased 1,900 shares of Matthews International stock. The shares were bought at an average price of $21.96 per share, for a total transaction of $41,724.00.
• On Monday, August 10th, J Michael Nauman bought 2,000 shares of Matthews International stock. The shares were purchased at an average price of $22.97 per share, for a total transaction of $45,940.00.

Matthews International Stock Performance

MATW traded up $0.15 during trading on Tuesday, hitting $21.37. 445,473 shares of the stock were exchanged, compared to its average volume of 306,232. The stock has a fifty day moving average price of $25.99 and a two-hundred day moving average price of $26.26. Matthews International Corporation has a 1-year low of $20.87 and a 1-year high of $30.93. The firm has a market capitalization of $666.90 million, a P/E ratio of -22.97 and a beta of 1.09. The company has a quick ratio of 1.02, a current ratio of 1.76 and a debt-to-equity ratio of 1.15.

Matthews International (NASDAQ:MATW - Get Free Report) last issued its quarterly earnings data 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). 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 for the quarter, compared to analysts' expectations of $264.54 million. As a group, sell-side analysts predict that Matthews International Corporation will post 0.53 earnings per share for the current year.

Matthews International Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 24th. Investors of record on Monday, August 10th were issued a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend was Monday, August 10th. Matthews International's dividend payout ratio is currently -109.68%.

Analyst Ratings Changes

MATW has been the subject of several recent analyst reports. Truist Financial assumed coverage on shares of Matthews International in a research note on Friday. They issued a "hold" rating and a $24.00 price objective for the company. Weiss Ratings lowered shares of Matthews International from a "sell (d+)" rating to a "sell (d)" rating in a report on Monday, August 17th. Zacks Research cut Matthews International from a "hold" rating to a "strong sell" rating in a report on Monday, August 10th. Finally, Wall Street Zen cut shares of Matthews International from a "hold" rating to a "sell" rating in a research report on Saturday, August 8th. One equities research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Sell" and an average target price of $24.00.

Institutional Investors Weigh In On Matthews International

Several hedge funds and other institutional investors have recently bought and sold shares of MATW. Ameriprise Financial Inc. boosted its stake in Matthews International by 9.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,664,426 shares of the company's stock valued at $39,796,000 after acquiring an additional 137,015 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Matthews International by 5.5% in 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 period. Gamco Investors INC. ET AL boosted its stake in Matthews International by 9.7% during the fourth quarter. Gamco Investors INC. ET AL now owns 1,554,105 shares of the company's stock valued at $40,593,000 after buying an additional 136,794 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Matthews International by 2.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 1,100,957 shares of the company's stock valued at $27,832,000 after purchasing an additional 25,478 shares during the last quarter. Finally, Private Capital Management LLC lifted its stake in Matthews International by 201.1% during the fourth quarter. Private Capital Management LLC now owns 1,018,587 shares of the company's stock valued at $26,605,000 after buying an additional 680,256 shares in the last quarter. 83.08% of the stock is currently owned by hedge funds and other institutional investors.

About Matthews International

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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