Matthews International (MATW) Stock Rating Lowered by Zacks Investment Research

Matthews International (NASDAQ:MATW) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Saturday.

According to Zacks, “Matthews International Corporation is a designer, manufacturer and marketer principally of memorialization products & brand solutions. Memorialization products consist primarily of bronze memorials and other memorialization products, caskets and cremation equipment for the cemetery & funeral home industries. Brand solutions include graphics imaging products & services, marking products, & merchandising solutions. The Company’s products & services include cast bronze memorials & other memorialization products; caskets; cast & etched architectural products; cremation equipment & cremation- related products; mausoleums; brand management, printing plates, pre-press services, & imaging systems for the primary packaging & corrugated industries; marking equipment & consumables, & industrial automation products for identifying, tracking & conveying various consumer & industrial products, components & packaging containers; & merchandising display systems and marketing & design services. “

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MATW has been the subject of a number of other research reports. BidaskClub cut shares of Matthews International from a “sell” rating to a “strong sell” rating in a research note on Tuesday, December 12th. B. Riley set a $92.00 price objective on shares of Matthews International and gave the company a “buy” rating in a research note on Monday, February 12th. Wellington Shields raised shares of Matthews International from a “hold” rating to a “gradually accumulate” rating in a research note on Thursday, March 1st. Finally, ValuEngine cut shares of Matthews International from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $74.67.

Shares of Matthews International stock opened at $50.20 on Friday. Matthews International has a 52-week low of $48.75 and a 52-week high of $72.60. The firm has a market capitalization of $1,621.06, a PE ratio of 13.94 and a beta of 1.12. The company has a debt-to-equity ratio of 1.20, a current ratio of 2.10 and a quick ratio of 1.48.

Matthews International (NASDAQ:MATW) last announced its quarterly earnings data on Thursday, January 25th. The company reported $0.64 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.58 by $0.06. Matthews International had a net margin of 6.46% and a return on equity of 15.09%. The company had revenue of $369.50 million during the quarter, compared to analysts’ expectations of $355.84 million. During the same quarter in the prior year, the company earned $0.62 EPS. The firm’s revenue was up 5.9% on a year-over-year basis. equities research analysts forecast that Matthews International will post 3.89 EPS for the current year.

In other news, Director Tunon Alvaro Garcia purchased 1,000 shares of the company’s stock in a transaction on Monday, February 5th. The stock was acquired at an average price of $52.00 per share, with a total value of $52,000.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Robert M. Marsh purchased 3,000 shares of the company’s stock in a transaction on Tuesday, January 30th. The shares were purchased at an average cost of $55.50 per share, with a total value of $166,500.00. Following the transaction, the vice president now directly owns 16,207 shares in the company, valued at $899,488.50. The disclosure for this purchase can be found here. Corporate insiders own 3.80% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. boosted its position 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 buying an additional 302,721 shares during the period. Dimensional Fund Advisors LP boosted its position 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 buying an additional 6,103 shares during the period. Clarkston Capital Partners LLC boosted its position 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 buying an additional 24,708 shares during the period. Millennium Management LLC boosted its position in Matthews International by 281.4% during the 4th quarter. Millennium Management LLC now owns 428,250 shares of the company’s stock valued at $22,612,000 after buying an additional 315,954 shares during the period. Finally, Geode Capital Management LLC boosted its position in Matthews International by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 288,621 shares of the company’s stock valued at $15,239,000 after buying an additional 1,533 shares during the period. 80.74% of the stock is owned by institutional investors and hedge funds.

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Matthews International Company Profile

Matthews International Corporation provides brand solutions, memorialization products, and industrial products in the United States, Central and South America, Canada, Europe, Australia, and Asia. It operates through three segments: SGK Brand Solutions, Memorialization, and Industrial Technologies. The SGK Brand Solutions segment provides brand development, deployment, delivery, brand management, 3-D graphics renderings, pre-media graphics services, printing plates, gravure cylinders, steel bases, embossing tools, special purpose machinery, engineering assistance, print process assistance, print production management, digital asset management, content management, and package design services to brand owners and packaging manufacturers; and creative digital graphics services, as well as designs, engineers, manufactures, and executes merchandising and display systems.

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