The stock of Matthews International Corp (NASDAQ:MATW) hit a new 52-week high and has $76.25 target or 5.00% above today’s $72.62 share price. The 5 months bullish chart indicates low risk for the $2.34B company. The 1-year high was reported on Nov, 23 by Barchart.com. If the $76.25 price target is reached, the company will be worth $117.00M 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 95,584 shares traded hands. Matthews International Corp (NASDAQ:MATW) has risen 39.46% since April 21, 2016 and is uptrending. It has outperformed by 34.13% the S&P500.
Analysts await Matthews International Corp (NASDAQ:MATW) to report earnings on January, 26.
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 5 analyst reports since August 3, 2015 according to StockzIntelligence Inc. Wunderlich maintained Matthews International Corp (NASDAQ:MATW) on Friday, July 29 with “Buy” rating. Macquarie Research maintained Matthews International Corp (NASDAQ:MATW) rating on Thursday, September 22. Macquarie Research has “Neutral” rating and $64 price target. Macquarie Research downgraded the shares of MATW in a report on Wednesday, November 4 to “Neutral” rating. The company was maintained on Monday, November 21 by Wunderlich.
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 increased to 1.55 in Q2 2016. Its up 0.58, from 0.97 in 2016Q1. The ratio improved, 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.
Pillar Pacific Mngmt Llc accumulated 0.07% or 7,500 shares. California State Teachers Retirement holds 0.01% of its portfolio in Matthews International Corp (NASDAQ:MATW) for 67,150 shares. Jpmorgan Chase Com accumulated 0% or 44,837 shares. Blackrock Inv Mngmt Llc holds 134,865 shares or 0.01% of its portfolio. Schwab Charles Investment Management accumulated 0.01% or 147,599 shares. The Florida-based Ladenburg Thalmann Fin Svcs has invested 0% in Matthews International Corp (NASDAQ:MATW). Victory Cap Mgmt owns 2,439 shares or 0% of their US portfolio. Hermes Management Ltd accumulated 0.32% or 286,298 shares. Raymond James Na last reported 0.02% of its portfolio in the stock. Rhumbline Advisers accumulated 0.01% or 46,125 shares. Guggenheim Capital Lc reported 23,469 shares or 0% of all its holdings. Us Bankshares De last reported 14,903 shares in the company. Ig Investment Ltd has invested 0.01% of its portfolio in Matthews International Corp (NASDAQ:MATW). Ls Investment Advsrs Ltd Liability accumulated 0% or 1,187 shares. Clarkston Prns Limited Com holds 3.36% of its portfolio in Matthews International Corp (NASDAQ:MATW) for 1.16 million shares.
Insider Transactions: Since June 6, 2016, the stock had 0 insider buys, and 9 sales for $7.54 million net activity. The insider NICOLA STEVEN F sold 21,728 shares worth $1.19M. $2.60M worth of Matthews International Corp (NASDAQ:MATW) was sold by BARTOLACCI JOSEPH C on Monday, June 6. 3,167 shares were sold by BECK DAVID F, worth $176,529 on Wednesday, June 8. Another trade for 1,334 shares valued at $79,173 was sold by Jensen Paul C.. Shares for $1.51 million were sold by SCHAWK DAVID A on Wednesday, August 10. Shares for $723,315 were sold by DUNN BRIAN J. RAHILL PAUL F had sold 4,666 shares worth $284,066 on Thursday, August 11.
More recent Matthews International Corp (NASDAQ:MATW) news were published by: Nasdaq.com which released: “Ex-Dividend Reminder: MKS Instruments, Curtiss-Wright and Matthews International” on November 21, 2016. Also Marketwatch.com published the news titled: “Matthews International stock price target raised to $75 from $65 at Wunderlich …” on December 21, 2009. Post-Gazette.com‘s news article titled: “Pittsburgh based Matthews International Corp merging with Schawk Inc.” with publication date: March 17, 2014 was also an interesting one.
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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