Matthews International Corporation (NASDAQ:MATW – Get Free Report) Director J Michael Nauman purchased 1,900 shares of the firm’s stock in a transaction dated Thursday, August 20th. The shares were purchased at an average cost of $21.96 per share, for a total transaction of $41,724.00. Following the purchase, the director directly owned 9,081 shares in the company, valued at approximately $199,418.76. This represents a 26.46% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
J Michael Nauman also recently made the following trade(s):
- On Monday, August 10th, J Michael Nauman purchased 2,000 shares of Matthews International stock. The stock was purchased at an average price of $22.97 per share, for a total transaction of $45,940.00.
Matthews International Price Performance
NASDAQ MATW traded down $0.23 during mid-day trading on Monday, hitting $21.04. The stock had a trading volume of 228,124 shares, compared to its average volume of 301,713. The company has a 50 day simple moving average of $26.09 and a 200 day simple moving average of $26.30. The company has a market cap of $656.66 million, a price-to-earnings ratio of -22.62 and a beta of 1.09. Matthews International Corporation has a 52-week low of $20.87 and a 52-week high of $30.93. 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 Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 24th. Investors of record on Monday, August 10th will be given a $0.255 dividend. The ex-dividend date is Monday, August 10th. This represents a $1.02 annualized dividend and a dividend yield of 4.8%. Matthews International’s payout ratio is currently -109.68%.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System lifted its holdings in Matthews International by 2,813.7% in the 2nd quarter. California State Teachers Retirement System now owns 777,100 shares of the company’s stock valued at $20,920,000 after purchasing an additional 750,429 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in shares of Matthews International in the second quarter valued at approximately $38,000. Amundi purchased a new position in shares of Matthews International during the first quarter valued at approximately $287,000. Quantinno Capital Management LP lifted its stake in shares of Matthews International by 37.9% during the first quarter. Quantinno Capital Management LP now owns 12,612 shares of the company’s stock valued at $326,000 after buying an additional 3,468 shares during the period. Finally, Sei Investments Co. boosted its position in Matthews International by 12.9% during the first quarter. Sei Investments Co. now owns 233,065 shares of the company’s stock worth $6,018,000 after acquiring an additional 26,572 shares during the last quarter. Institutional investors and hedge funds own 83.08% of the company’s stock.
Analysts Set New Price Targets
A number of brokerages have issued reports on MATW. Zacks Research cut shares of Matthews International from a “hold” rating to a “strong sell” rating in a research report on Monday, August 10th. Truist Financial started coverage on shares of Matthews International in a research report on Friday. They issued a “hold” rating and a $24.00 price target on the stock. Wall Street Zen downgraded Matthews International from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Finally, Weiss Ratings lowered Matthews International from a “sell (d+)” rating to a “sell (d)” rating in a research note on Monday, August 17th. One analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Matthews International presently has a consensus rating of “Sell” and a consensus price target of $24.00.
Read Our Latest Research Report on Matthews International
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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