Insider Buying: Matthews International (NASDAQ:MATW) Director Buys 2,000 Shares of Stock

Matthews International Corporation (NASDAQ:MATW) Director J Michael Nauman acquired 2,000 shares of the firm’s stock in a transaction dated Monday, August 10th. The shares were purchased at an average cost of $22.97 per share, for a total transaction of $45,940.00. Following the acquisition, the director directly owned 7,081 shares in the company, valued at $162,650.57. This represents a 39.36% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Matthews International Stock Performance

Shares of NASDAQ MATW traded down $0.23 during trading hours on Wednesday, reaching $23.27. The stock had a trading volume of 147,286 shares, compared to its average volume of 270,608. The business’s fifty day moving average is $26.61 and its two-hundred day moving average is $26.53. 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 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 Corporation has a twelve month low of $21.95 and a twelve month high of $30.93.

Matthews International (NASDAQ:MATW) last posted its quarterly earnings results on Friday, August 7th. The company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates 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. As a group, research analysts expect that Matthews International Corporation will post 0.53 EPS for the current year.

Matthews International Dividend Announcement

The business 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 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 (DPR) is presently -109.68%.

Analysts Set New Price Targets

MATW has been the topic of a number of research analyst reports. Zacks Research lowered shares of Matthews International from a “hold” rating to a “strong sell” rating in a report on Monday. Wall Street Zen downgraded shares of Matthews International from a “hold” rating to a “sell” rating in a research report on Saturday. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Matthews International in a research report on Monday, August 3rd. Two analysts have rated the stock with a Sell rating, According to MarketBeat.com, the company has a consensus rating of “Sell”.

Institutional Investors Weigh In On Matthews International

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MATW. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Matthews International by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,686 shares of the company’s stock worth $393,000 after buying an additional 780 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Matthews International in the 1st quarter valued at about $1,227,000. Intech Investment Management LLC raised its position in shares of Matthews International by 316.4% in the 1st quarter. Intech Investment Management LLC now owns 59,502 shares of the company’s stock valued at $1,323,000 after acquiring an additional 45,212 shares during the period. American Century Companies Inc. boosted its stake in Matthews International by 7.9% during the 2nd quarter. American Century Companies Inc. now owns 64,988 shares of the company’s stock worth $1,554,000 after acquiring an additional 4,742 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new position in Matthews International during the 2nd quarter worth approximately $1,406,000. Institutional investors 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.