Stock Mover of The Day: Could Matthews International Corp Change Direction After Making All Time High?

Stock Mover of The Day: Could Matthews International Corp Change Direction After Making All Time High?

The stock of Matthews International Corp (NASDAQ:MATW) reached all time high today, Nov, 24 and still has $75.87 target or 4.00% above today’s $72.95 share price. This indicates more upside for the $2.39B company. This technical setup was reported by Barchart.com. If the $75.87 PT is reached, the company will be worth $95.60M 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. The stock increased 2.13% or $1.52 on November 23, hitting $72.95. About 167,835 shares traded hands or 45.87% up from the average. Matthews International Corp (NASDAQ:MATW) has risen 41.02% since April 22, 2016 and is uptrending. It has outperformed by 35.61% 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. The stock of Matthews International Corp (NASDAQ:MATW) earned “Neutral” rating by Macquarie Research on Thursday, September 22. The stock has “Buy” rating given by Wunderlich on Friday, July 29. The stock of Matthews International Corp (NASDAQ:MATW) earned “Neutral” rating by Macquarie Research on Wednesday, November 4. The stock of Matthews International Corp (NASDAQ:MATW) earned “Buy” rating by Wunderlich on Monday, November 21.

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 2016 Q2. Its up 0.58, from 0.97 in 2016Q1. The ratio is positive, 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.
Raymond James And holds 171,321 shares or 0.03% of its portfolio. Wellington Mngmt Group Incorporated Llp has 0.02% invested in the company for 1.41M shares. Capital Fin Advisers Limited Com, a California-based fund reported 4,737 shares. Moreover, Foundry Limited Liability Company has 0.32% invested in Matthews International Corp (NASDAQ:MATW) for 99,809 shares. Ubs Asset Mgmt Americas has 0% invested in the company for 21,664 shares. Los Angeles Management & Equity Research accumulated 0% or 8,465 shares. Moreover, First Trust Advsr Lp has 0% invested in Matthews International Corp (NASDAQ:MATW) for 21,127 shares. Channing Cap Management Limited Liability accumulated 2.17% or 931,864 shares. United Service Automobile Association reported 171,701 shares or 0.03% of all its holdings. Deutsche Bankshares Ag reported 46,188 shares or 0% of all its holdings. Jacobs Levy Equity Mgmt holds 0% or 4,330 shares in its portfolio. Us National Bank & Trust De last reported 14,903 shares in the company. Pnc Financial Service Gru Inc reported 55,636 shares or 0% of all its holdings. Morgan Stanley has invested 0% of its portfolio in Matthews International Corp (NASDAQ:MATW). Guggenheim Llc accumulated 23,469 shares or 0% of the stock.

Insider Transactions: Since June 6, 2016, the stock had 0 insider purchases, and 9 insider sales for $7.54 million net activity. $1.51M worth of shares were sold by SCHAWK DAVID A on Wednesday, August 10. $2.60 million worth of Matthews International Corp (NASDAQ:MATW) shares were sold by BARTOLACCI JOSEPH C. NICOLA STEVEN F sold $1.19 million worth of stock or 21,728 shares. 4,666 shares were sold by RAHILL PAUL F, worth $284,066 on Thursday, August 11. On Friday, September 2 Jensen Paul C. sold $56,887 worth of the stock or 914 shares. $176,529 worth of shares were sold by BECK DAVID F on Wednesday, June 8. Another trade for 13,333 shares valued at $723,315 was sold by DUNN BRIAN J.

More 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 Nasdaq.com published the news titled: “Ex-Dividend Reminder: MKS Instruments, Curtiss-Wright and Matthews International” on November 21, 2016. 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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