The stock of Matthews International Corp (NASDAQ:MATW) hit a new 52-week high and has $82.79 target or 23.00% above today’s $67.31 share price. The 5 months bullish chart indicates low risk for the $2.20 billion company. The 1-year high was reported on Nov, 11 by Barchart.com. If the $82.79 price target is reached, the company will be worth $506.00 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 150,813 shares traded hands or 71.13% up from the average. Matthews International Corp (NASDAQ:MATW) has risen 31.24% since April 11, 2016 and is uptrending. It has outperformed by 25.10% the S&P500.
Analysts await Matthews International Corp (NASDAQ:MATW) to report earnings on November, 21. They expect $0.98 EPS, up 5.38% or $0.05 from last year’s $0.93 per share. MATW’s profit will be $32.03M for 17.17 P/E if the $0.98 EPS becomes a reality. After $0.97 actual EPS reported by Matthews International Corp for the previous quarter, Wall Street now forecasts 1.03% EPS growth.
Matthews International Corp (NASDAQ:MATW) Ratings Coverage
Out of 2 analysts covering Matthews International (NASDAQ:MATW), 1 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 50% are positive. Matthews International has been the topic of 4 analyst reports since August 3, 2015 according to StockzIntelligence Inc. On Wednesday, November 4 the stock rating was downgraded by Macquarie Research to “Neutral”. Wunderlich maintained the stock with “Buy” rating in Friday, July 29 report. The firm has “Neutral” rating by Macquarie Research given on Thursday, September 22.
According to Zacks Investment Research, “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.”
Insitutional Activity: The institutional sentiment decreased to 0.97 in 2016 Q2. Its down 0.53, from 1.5 in 2016Q1. The ratio dropped, as 9 funds sold all Matthews International Corp shares owned while 49 reduced positions. 10 funds bought stakes while 46 increased positions. They now own 25.53 million shares or 1.01% more from 25.27 million shares in 2016Q1.
Financial Bank Of America De accumulated 0% or 72,791 shares. Northern owns 600,365 shares or 0.01% of their US portfolio. California State Teachers Retirement Sys holds 67,150 shares or 0.01% of its portfolio. The Ontario – Canada-based Royal Fincl Bank Of Canada has invested 0.01% in Matthews International Corp (NASDAQ:MATW). Dimensional Fund Advsr L P accumulated 1.36M shares or 0.04% of the stock. Miles Capital Inc has invested 0.19% of its portfolio in Matthews International Corp (NASDAQ:MATW). State Board Of Administration Of Florida Retirement Systems owns 20,740 shares or 0% of their US portfolio. State Of Tennessee Treasury Department holds 26,115 shares or 0.01% of its portfolio. Hermes Investment Mngmt accumulated 286,298 shares or 0.32% of the stock. Silvercrest Asset Mgmt Gru Limited Liability Corporation reported 6,000 shares or 0% of all its holdings. Channing Capital Mgmt Ltd Liability last reported 931,864 shares in the company. Voya Mngmt Lc accumulated 0% or 14,316 shares. Qs Investors Lc has 811 shares for 0% of their US portfolio. Bahl And Gaynor has 11,753 shares for 0.01% of their US portfolio. Amalgamated Retail Bank holds 3,705 shares or 0.01% of its portfolio.
Insider Transactions: Since May 12, 2016, the stock had 0 buys, and 9 selling transactions for $7.54 million net activity. On Monday, August 1 Jensen Paul C. sold $79,173 worth of the stock or 1,334 shares. The insider SCHAWK DAVID A sold 15,000 shares worth $909,526. 3,167 shares with value of $176,529 were sold by BECK DAVID F on Wednesday, June 8. The insider NICOLA STEVEN F sold 21,728 shares worth $1.19 million. $284,066 worth of Matthews International Corp (NASDAQ:MATW) shares were sold by RAHILL PAUL F. BARTOLACCI JOSEPH C sold 47,432 shares worth $2.60M. DUNN BRIAN J also sold $723,315 worth of Matthews International Corp (NASDAQ:MATW) on Tuesday, June 14.
More notable recent Matthews International Corp (NASDAQ:MATW) news were published by: Marketwatch.com which released: “Matthews International stock price target raised to $75 from $65 at Wunderlich …” on December 21, 2009, also Post-Gazette.com with their article: “Pittsburgh based Matthews International Corp merging with Schawk Inc.” published on March 17, 2014, Bizjournals.com published: “Matthews acquires $4.9M of its stock from Schawk family” on May 18, 2016. More interesting news about Matthews International Corp (NASDAQ:MATW) were released by: Post-Gazette.com and their article: “Aliquippa man gets prison in Matthews International fake invoice scheme” published on January 15, 2015 as well as Bizjournals.com‘s news article titled: “Matthews buying Aurora Casket for $214M” with publication date: June 09, 2015.
MATW Company Profile
Matthews International Corporation, incorporated in 1902, is a well-known provider of brand solutions, memorialization products and industrial products. The Firm operates through three divisions: SGK Brand Solutions, Memorialization and Industrial. The SGK Brand Solutions segment consists of the graphics imaging business, including Schawk, and the merchandising solutions operations. The Memorialization segment consists of the Company’s cemetery products, funeral home products and cremation operations. The Industrial segment consists of the Company’s marking and automation products, and fulfillment systems. Products and services of the SGK Brand Solutions segment are sold throughout the world, with principal locations in the United States, Europe and Asia. Memorialization segment products are sold throughout the world, with the segment’s principal activities located in the United States, Europe, Canada and Australia.
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