Matthews International (NASDAQ:MATW) Director Purchases $69,180.00 in Stock

Key Points

• Director Aleta Richards bought 3,000 Matthews International shares at an average price of $23.06, investing $69,180 and increasing her direct ownership by 31.46% to 12,535 shares.
• Matthews International reported quarterly EPS of $0.06, missing the $0.41 consensus estimate, while revenue of $246.02 million also fell short of expectations. Shares recently traded near $22.90, close to the company’s 52-week low.
• The company declared a quarterly dividend of $0.255, equivalent to $1.02 annually and a 4.5% yield. However, analysts maintain a broadly negative outlook, with the stock carrying an average “Sell” rating.

Matthews International Corporation (NASDAQ:MATW - Get Free Report) Director Aleta Richards purchased 3,000 shares of the business's stock in a transaction on Friday, August 14th. The shares were acquired at an average cost of $23.06 per share, with a total value of $69,180.00. Following the acquisition, the director directly owned 12,535 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is available through this link.

Matthews International Stock Performance

Shares of NASDAQ:MATW traded down $0.35 on Monday, hitting $22.90. The company had a trading volume of 320,416 shares, compared to its average volume of 285,222. The stock has a market cap of $714.68 million, a price-to-earnings ratio of -24.57 and a beta of 1.09. The stock has a 50 day moving average price of $26.47 and a 200 day moving average price of $26.45. Matthews International Corporation has a 1-year low of $21.95 and a 1-year high of $30.93. 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 - Get Free Report) last announced 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). The company 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%. Analysts expect that Matthews International Corporation will post 0.53 EPS for the current year.

Matthews International Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Shareholders of record on Monday, August 10th will be issued a $0.255 dividend. This represents a $1.02 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date of this dividend is Monday, August 10th. Matthews International's dividend payout ratio is currently -109.68%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Wall Street Zen cut shares of Matthews International from a "hold" rating to a "sell" rating in a research note on Saturday, August 8th. Zacks Research cut shares of Matthews International from a "hold" rating to a "strong sell" rating in a report on Monday, August 10th. Finally, Weiss Ratings reiterated a "sell (d+)" rating on shares of Matthews International in a research report on Monday, August 3rd. Two research analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock has an average rating of "Sell".

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MATW. Ameriprise Financial Inc. grew its stake in Matthews International by 9.0% during the second quarter. Ameriprise Financial Inc. now owns 1,664,426 shares of the company's stock worth $39,796,000 after buying an additional 137,015 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Matthews International by 5.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,614,201 shares of the company's stock valued at $41,677,000 after buying an additional 83,860 shares in the last quarter. Gamco Investors INC. ET AL boosted its position in shares of Matthews International by 9.7% during the 4th quarter. Gamco Investors INC. ET AL now owns 1,554,105 shares of the company's stock worth $40,593,000 after acquiring an additional 136,794 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Matthews International by 2.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,100,957 shares of the company's stock worth $27,832,000 after acquiring an additional 25,478 shares in the last quarter. Finally, Private Capital Management LLC increased its stake in Matthews International by 201.1% in the fourth quarter. Private Capital Management LLC now owns 1,018,587 shares of the company's stock valued at $26,605,000 after acquiring an additional 680,256 shares during the last quarter. Institutional investors and hedge funds own 83.08% of the company's stock.

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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