The stock of Matthews International Corp (NASDAQ:MATW) reached all time high today, Nov, 14 and still has $90.92 target or 36.00% above today’s $66.85 share price. This indicates more upside for the $2.21 billion company. This technical setup was reported by Barchart.com. If the $90.92 PT is reached, the company will be worth $795.60 million more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 88,173 shares traded hands. Matthews International Corp (NASDAQ:MATW) has risen 35.09% since April 12, 2016 and is uptrending. It has outperformed by 30.10% the S&P500.
Analysts await Matthews International Corp (NASDAQ:MATW) to report earnings on November, 21. They expect $0.98 earnings per share, up 5.38% or $0.05 from last year’s $0.93 per share. MATW’s profit will be $32.40 million for 17.05 P/E if the $0.98 EPS becomes a reality. After $0.97 actual earnings per share 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. Macquarie Research downgraded the stock to “Neutral” rating in Wednesday, November 4 report. Wunderlich maintained Matthews International Corp (NASDAQ:MATW) on Friday, July 29 with “Buy” rating. The firm earned “Neutral” rating on Thursday, September 22 by Macquarie Research.
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 Q2 2016. Its down 0.53, from 1.5 in 2016Q1. The ratio turned negative, 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.
Smithfield accumulated 1,337 shares or 0.01% of the stock. Blackrock Invest Management Ltd Liability Corporation holds 0.01% or 134,865 shares in its portfolio. The New Jersey-based Nj State Employees Deferred Compensation Plan has invested 0.3% in Matthews International Corp (NASDAQ:MATW). Wells Fargo & Mn has 329,893 shares for 0.01% of their US portfolio. Moreover, Texas Permanent School Fund has 0.02% invested in Matthews International Corp (NASDAQ:MATW) for 24,496 shares. Gabelli Funds Lc owns 31,000 shares or 0.01% of their US portfolio. D E Shaw And Co has 4,410 shares for 0% of their US portfolio. State Of Tennessee Treasury Department accumulated 26,115 shares or 0.01% of the stock. Clarkston Prtn Ltd Liability Co holds 1.16 million shares or 3.36% of its portfolio. Schwab Charles Inv Mgmt Incorporated accumulated 0.01% or 147,599 shares. Zurcher Kantonalbank (Zurich Cantonalbank) holds 806 shares or 0% of its portfolio. State Street Corporation last reported 642,632 shares in the company. Schroder Inv Mgmt Group last reported 0.05% of its portfolio in the stock. Moreover, Barclays Public Ltd has 0% invested in Matthews International Corp (NASDAQ:MATW) for 1,400 shares. Suntrust Banks last reported 0% of its portfolio in the stock.
Insider Transactions: Since June 6, 2016, the stock had 0 insider buys, and 9 insider sales for $7.54 million net activity. RAHILL PAUL F also sold $284,066 worth of Matthews International Corp (NASDAQ:MATW) on Thursday, August 11. $723,315 worth of Matthews International Corp (NASDAQ:MATW) shares were sold by DUNN BRIAN J. $1.19 million worth of Matthews International Corp (NASDAQ:MATW) was sold by NICOLA STEVEN F. The insider BECK DAVID F sold $176,529. Jensen Paul C. sold $56,887 worth of stock. The insider SCHAWK DAVID A sold $1.51 million. 47,432 shares with value of $2.60M were sold by BARTOLACCI JOSEPH C on Monday, June 6.
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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