Matthews International (NASDAQ:MATW) Director J Michael Nauman Buys 2,000 Shares of Stock

Key Points

• Director J. Michael Nauman purchased 2,000 Matthews International shares at an average price of $22.97, investing $45,940 and increasing his direct ownership by 39.36% to 7,081 shares.
• Matthews International shares fell 1.0% to $23.27, while the company reported quarterly EPS of $0.06—well below the $0.41 consensus estimate—and revenue of $246.02 million versus estimates of $264.54 million.
• The company declared a quarterly dividend of $0.255 per share, equivalent to a 4.4% annualized yield, but analyst sentiment remains negative, with a consensus “Sell” rating and multiple recent downgrades.

Matthews International Corporation (NASDAQ:MATW - Get Free Report) Director J Michael Nauman bought 2,000 shares of Matthews International stock in a transaction on Monday, August 10th. The stock was acquired at an average price of $22.97 per share, with a total value of $45,940.00. Following the completion of the purchase, the director directly owned 7,081 shares of the company's stock, valued at approximately $162,650.57. The trade was a 39.36% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Matthews International Stock Down 1.0%

Shares of Matthews International stock traded down $0.23 during midday trading on Wednesday, reaching $23.27. 147,286 shares of the company's stock traded hands, compared to its average volume of 270,608. 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 Corporation has a 52 week low of $21.95 and a 52 week high of $30.93. The company's 50 day simple moving average is $26.61 and its 200 day simple moving average is $26.53. The company has a market cap of $726.23 million, a price-to-earnings ratio of -25.11 and a beta of 1.09.

Matthews International (NASDAQ:MATW - Get Free Report) last posted its earnings results on Friday, August 7th. The company reported $0.06 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 analyst estimates of $264.54 million. Equities analysts expect that Matthews International Corporation will post 0.53 earnings per share for the current fiscal year.

Matthews International Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Stockholders of record on Monday, August 10th will be issued a dividend of $0.255 per share. The ex-dividend date of this dividend is Monday, August 10th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 4.4%. Matthews International's dividend payout ratio is currently -109.68%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Steel Partners Holdings L.P. acquired a new stake in Matthews International in the 4th quarter worth $20,084,000. Private Capital Management LLC raised its position in shares of 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 during the last quarter. Simcoe Capital Management LLC bought a new stake in shares of Matthews International in the fourth quarter valued at about $8,763,000. Cannell Capital LLC bought a new stake in shares of Matthews International in the second quarter valued at about $5,926,000. Finally, Focus Partners Wealth acquired a new stake in Matthews International during the fourth quarter worth about $5,242,000. 83.08% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on MATW. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Matthews International in a research report on Monday, August 3rd. Wall Street Zen cut shares of Matthews International from a "hold" rating to a "sell" rating in a research note on Saturday. Finally, Zacks Research downgraded shares of Matthews International from a "hold" rating to a "strong sell" rating in a report on Monday. Two analysts have rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has a consensus 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.

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