Matthews International (NASDAQ:MATW) was upgraded by equities researchers at Wellington Shields from a “hold” rating to a “gradually accumulate” rating in a research note issued on Thursday.
Several other equities research analysts also recently commented on MATW. B. Riley reissued a “buy” rating and issued a $92.00 price objective on shares of Matthews International in a report on Monday, November 20th. BidaskClub downgraded Matthews International from a “sell” rating to a “strong sell” rating in a report on Tuesday, December 12th. Finally, ValuEngine downgraded Matthews International from a “buy” rating to a “hold” rating in a report on Friday, February 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. Matthews International currently has an average rating of “Hold” and an average target price of $83.50.
Shares of Matthews International (MATW) traded up $0.55 on Thursday, hitting $51.80. 200,187 shares of the stock traded hands, compared to its average volume of 177,563. The company has a market cap of $1,690.46, a PE ratio of 16.69 and a beta of 1.11. Matthews International has a one year low of $50.10 and a one year high of $72.60. The company has a quick ratio of 1.48, a current ratio of 2.10 and a debt-to-equity ratio of 1.20.
In related news, VP Robert M. Marsh acquired 3,000 shares of the business’s stock in a transaction dated Tuesday, January 30th. The stock was bought at an average price of $55.50 per share, with a total value of $166,500.00. Following the acquisition, the vice president now owns 16,207 shares in the company, valued at approximately $899,488.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Tunon Alvaro Garcia acquired 1,000 shares of the business’s stock in a transaction dated Monday, February 5th. The stock was bought at an average cost of $52.00 per share, with a total value of $52,000.00. The disclosure for this purchase can be found here. Corporate insiders own 3.80% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its holdings in Matthews International by 7.8% during the 4th quarter. BlackRock Inc. now owns 4,166,858 shares of the company’s stock valued at $220,010,000 after purchasing an additional 302,721 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Matthews International by 0.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,263,962 shares of the company’s stock valued at $78,682,000 after purchasing an additional 6,103 shares during the last quarter. Clarkston Capital Partners LLC lifted its holdings in Matthews International by 2.2% during the 4th quarter. Clarkston Capital Partners LLC now owns 1,137,592 shares of the company’s stock valued at $60,065,000 after purchasing an additional 24,708 shares during the last quarter. Channing Capital Management LLC lifted its holdings in Matthews International by 12.7% during the 3rd quarter. Channing Capital Management LLC now owns 885,504 shares of the company’s stock valued at $55,123,000 after purchasing an additional 99,837 shares during the last quarter. Finally, State Street Corp lifted its holdings in Matthews International by 4.3% during the 2nd quarter. State Street Corp now owns 785,834 shares of the company’s stock valued at $48,137,000 after purchasing an additional 32,125 shares during the last quarter. 76.59% of the stock is owned by institutional investors.
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Matthews International Company Profile
Matthews International Corporation is a provider of brand solutions, memorialization products and industrial technologies. The Company operates through three segments: SGK Brand Solutions, Memorialization and Industrial Technologies. The SGK Brand Solutions segment provides brand development, deployment and delivery (consisting of brand management, printing plates and cylinders, pre-media services and imaging services for consumer packaged goods and retail customers, merchandising display systems, and marketing and design services).
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