The stock of Matthews International Corp (NASDAQ:MATW) reached all time high today, Nov, 29 and still has $75.09 target or 3.00% above today’s $72.90 share price. This indicates more upside for the $2.33B company. This technical setup was reported by Barchart.com. If the $75.09 PT is reached, the company will be worth $69.90M 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 112,760 shares traded hands. Matthews International Corp (NASDAQ:MATW) has risen 41.34% since April 26, 2016 and is uptrending. It has outperformed by 36.08% 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 company was maintained on Monday, November 21 by Wunderlich. The firm has “Neutral” rating by Macquarie Research given on Thursday, September 22. The company was downgraded on Wednesday, November 4 by Macquarie Research. Wunderlich maintained the stock with “Buy” rating in Friday, July 29 report.
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 increased, 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.
Proshare Advsrs Lc holds 0.03% or 38,371 shares in its portfolio. Gamco Invsts Et Al has 0.01% invested in the company for 23,000 shares. Bancshares Of Montreal Can holds 0% or 2,556 shares in its portfolio. Moreover, Victory has 0% invested in Matthews International Corp (NASDAQ:MATW) for 2,439 shares. State Street has invested 0% of its portfolio in Matthews International Corp (NASDAQ:MATW). Morgan Stanley has 0% invested in the company for 10,876 shares. Paradigm Asset Limited Com holds 0% of its portfolio in Matthews International Corp (NASDAQ:MATW) for 13,050 shares. California Employees Retirement last reported 0% of its portfolio in the stock. Bancorporation Of America Corp De last reported 72,791 shares in the company. Ridgeworth Cap Mngmt Limited Liability reported 138,463 shares or 0.07% of all its holdings. Goldman Sachs Inc holds 0% of its portfolio in Matthews International Corp (NASDAQ:MATW) for 32,929 shares. Strs Ohio holds 0% of its portfolio in Matthews International Corp (NASDAQ:MATW) for 500 shares. Gabelli Funds Limited Liability reported 31,000 shares or 0.01% of all its holdings. The Pennsylvania-based Sei Invests has invested 0% in Matthews International Corp (NASDAQ:MATW). D E Shaw And Com Inc has 0% invested in the company for 4,410 shares.
Insider Transactions: Since June 6, 2016, the stock had 0 insider purchases, and 9 insider sales for $7.54 million net activity. $723,315 worth of Matthews International Corp (NASDAQ:MATW) was sold by DUNN BRIAN J on Tuesday, June 14. RAHILL PAUL F also sold $284,066 worth of Matthews International Corp (NASDAQ:MATW) shares. SCHAWK DAVID A also sold $1.51M worth of Matthews International Corp (NASDAQ:MATW) shares. Jensen Paul C. also sold $79,173 worth of Matthews International Corp (NASDAQ:MATW) on Monday, August 1. BECK DAVID F also sold $176,529 worth of Matthews International Corp (NASDAQ:MATW) on Wednesday, June 8. Another trade for 21,728 shares valued at $1.19 million was made by NICOLA STEVEN F on Monday, June 6. Shares for $2.60 million were sold by BARTOLACCI JOSEPH C on Monday, June 6.
More news for Matthews International Corp (NASDAQ:MATW) were recently published by: Marketwatch.com, which released: “Matthews International stock price target raised to $75 from $65 at Wunderlich …” on December 21, 2009. Post-Gazette.com‘s article titled: “Pittsburgh based Matthews International Corp merging with Schawk Inc.” and published on March 17, 2014 is yet another important article.
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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