Truist Financial began coverage on shares of Matthews International (NASDAQ:MATW – Get Free Report) in a report issued on Friday. The firm set a “hold” rating and a $24.00 price target on the stock. Truist Financial’s price target indicates a potential upside of 10.80% from the company’s previous close.
Other research analysts also recently issued research reports about the stock. Wall Street Zen downgraded shares of Matthews International from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Weiss Ratings cut shares of Matthews International from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday. Finally, Zacks Research downgraded shares of Matthews International from a “hold” rating to a “strong sell” rating in a research report on Monday, August 10th. One research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Sell” and an average price target of $24.00.
View Our Latest Analysis on Matthews International
Matthews International Trading Down 1.4%
Matthews International (NASDAQ:MATW – Get Free Report) last posted its earnings results on Friday, August 7th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.35). The business had revenue of $246.02 million during the quarter, compared to analyst estimates of $264.54 million. Matthews International had a negative net margin of 2.65% and a positive return on equity of 4.51%. On average, research analysts predict that Matthews International will post 0.53 earnings per share for the current fiscal year.
Insider Buying and Selling
In other news, Director Aleta W. Richards acquired 3,000 shares of Matthews International stock in a transaction dated Friday, August 14th. The stock was acquired at an average cost of $23.06 per share, for a total transaction of $69,180.00. Following the completion of the purchase, the director owned 12,535 shares of the company’s stock, valued at $289,057.10. This represents a 31.46% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director J Michael Nauman acquired 2,000 shares of the firm’s stock in a transaction that occurred on Monday, August 10th. The shares were purchased at an average cost of $22.97 per share, with a total value of $45,940.00. Following the completion of the acquisition, the director owned 7,081 shares in the company, valued at $162,650.57. This trade represents a 39.36% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 4.70% of the company’s stock.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently bought and sold shares of MATW. Steel Partners Holdings L.P. acquired a new stake in Matthews International in the 4th quarter valued at approximately $20,084,000. Private Capital Management LLC lifted its holdings 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 worth $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 approximately $8,763,000. Cannell Capital LLC bought a new stake in shares of Matthews International in the second quarter valued at approximately $5,926,000. Finally, Focus Partners Wealth bought a new stake in shares of Matthews International in the fourth quarter valued at approximately $5,242,000. Institutional investors and hedge funds own 83.08% of the company’s stock.
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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