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PITTSBURGH—Nauman J. Michael, a director at Matthews International Corp. (NASDAQ:MATW), recently purchased 4,000 shares of the company’s Class A Common Stock, according to a filing with the Securities and Exchange Commission. The timing of this insider purchase comes as the stock has declined nearly 10% year-to-date, according to InvestingPro data. The shares were acquired at a price of $24.59 each, totaling approximately $98,360. This transaction, dated February 24, 2025, increases Nauman’s total holdings to 4,000 shares. Matthews International, headquartered in Pittsburgh, operates in the nonferrous foundries industry. The company, currently valued at approximately $772 million, has maintained a strong dividend track record with 27 consecutive years of increases and a current yield of 4%. InvestingPro analysis shows the stock is trading near its Fair Value, with 12 more exclusive insights available to subscribers, including detailed insider trading patterns and comprehensive financial health metrics.
In other recent news, Matthews International Corporation reported robust operating results, highlighting strong performance in its core businesses. The Memorialization segment benefited from pricing actions and strategic acquisitions, improving operating margins. The SGK Brand Solutions division reported its third consecutive quarter of higher sales, driven by a shift towards e-commerce digital marketing. Matthews International has engaged J.P. Morgan to explore potential strategic alternatives, indicating a commitment to long-term value creation. Additionally, the company announced its 31st consecutive annual dividend increase. Meanwhile, Matthews International’s shareholders recently re-elected three directors and approved several key proposals at the Annual Meeting. The meeting also saw the ratification of Ernst & Young LLP as the independent registered public accounting firm for the fiscal year. Barington Capital Group, holding about 2% of Matthews, is advocating for significant leadership changes, citing concerns over underperformance and stagnant share prices.
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