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

Key Points

• Director J. Michael Nauman purchased 1,000 Matthews International shares at an average price of $19.99, investing $19,990 and increasing his direct ownership by 9.92% to 11,081 shares.
• Matthews International shares traded near $19.90, close to their 12-month low of $19.58. The company recently missed quarterly earnings and revenue estimates, reporting $0.06 EPS versus the $0.41 consensus and $246.02 million in revenue versus $264.54 million expected.
• Analyst sentiment remains negative, with the stock carrying a consensus “Sell” rating and a $24 price target. The company continues to pay a quarterly dividend of $0.255, representing an annualized yield of approximately 5.1%.

Matthews International Corporation (NASDAQ:MATW - Get Free Report) Director J Nauman purchased 1,000 shares of the company'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 directly 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 filing with the SEC, which is available at the SEC website.

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 stock was purchased 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 purchased 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 shares were purchased at an average cost of $22.97 per share, for a total transaction of $45,940.00.

Matthews International Stock Performance

Shares of NASDAQ MATW traded down $0.01 during midday trading on Tuesday, reaching $19.90. The company's stock had a trading volume of 341,964 shares, compared to its average volume of 340,807. The stock has a market capitalization of $621.14 million, a P/E ratio of -21.44 and a beta of 1.04. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.76 and a quick ratio of 1.02. The firm has a 50 day moving average price of $24.28 and a 200-day moving average price of $25.67. Matthews International Corporation has a 12-month low of $19.58 and a 12-month 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). The business had revenue of $246.02 million for the quarter, compared to the consensus estimate of $264.54 million. Matthews International had a positive return on equity of 4.51% and a negative net margin of 2.65%. As a group, equities 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 declared a quarterly dividend, which was paid on Monday, August 24th. Investors of record on Monday, August 10th were issued a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date of this dividend was Monday, August 10th. Matthews International's payout ratio is -109.68%.

Institutional Trading of Matthews International

Hedge funds and other institutional investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio bought a new stake in shares of Matthews International during the second quarter valued at about $38,000. Potomac Capital Management Inc. bought a new position in shares of Matthews International in the fourth quarter valued at approximately $59,000. Fifth Third Bancorp grew its stake in Matthews International by 40,261.1% during the first quarter. Fifth Third Bancorp now owns 7,265 shares of the company's stock valued at $188,000 after acquiring an additional 7,247 shares in the last quarter. Teton Advisors LLC purchased a new position in Matthews International during the fourth quarter valued at approximately $209,000. Finally, Janney Montgomery Scott LLC increased its holdings in 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 during the period. Institutional investors own 83.08% of the company's stock.

Wall Street Analysts Forecast Growth

MATW has been the subject of a number of research analyst reports. Zacks Research downgraded shares of Matthews International from a "hold" rating to a "strong sell" rating in a report 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. Truist Financial assumed coverage on shares of Matthews International in a research note on Friday, August 21st. They set a "hold" rating and a $24.00 price target for the company. Finally, Weiss Ratings downgraded Matthews International from a "sell (d+)" rating to a "sell (d)" rating in a research note on Monday, August 17th. One equities research analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average 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.

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