Matthews International (MATW) Lifted to Gradually Accumulate at Wellington Shields
Matthews International (NASDAQ:MATW) was upgraded by Wellington Shields from a “hold” rating to a “gradually accumulate” rating in a note issued to investors on Thursday, MarketBeat Ratings reports.
Other equities research analysts also recently issued reports about the company. BidaskClub upgraded Matthews International from a “strong sell” rating to a “sell” rating in a research note on Friday, January 26th. B. Riley set a $92.00 price target on Matthews International and gave the company a “buy” rating in a research note on Monday, February 12th. Finally, ValuEngine downgraded Matthews International from a “buy” rating to a “hold” rating in a research note on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $83.50.
Shares of Matthews International (MATW) traded up $1.60 during trading hours on Thursday, reaching $53.40. The company’s stock had a trading volume of 151,787 shares, compared to its average volume of 155,793. Matthews International has a fifty-two week low of $50.10 and a fifty-two week high of $72.60. The company has a current ratio of 2.10, a quick ratio of 1.48 and a debt-to-equity ratio of 1.20. The stock has a market cap of $1,672.70, a price-to-earnings ratio of 17.39 and a beta of 1.15.
In other news, VP Robert M. Marsh purchased 3,000 shares of the business’s stock in a transaction on Tuesday, January 30th. The stock was acquired at an average cost of $55.50 per share, for a total transaction of $166,500.00. Following the purchase, the vice president now directly owns 16,207 shares in the company, valued at approximately $899,488.50. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Tunon Alvaro Garcia acquired 1,000 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The shares were bought at an average price of $52.00 per share, with a total value of $52,000.00. The disclosure for this purchase can be found here. Insiders own 3.80% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. BlackRock Inc. grew its stake in shares of Matthews International by 7.8% during the 4th quarter. BlackRock Inc. now owns 4,166,858 shares of the company’s stock valued at $220,010,000 after acquiring an additional 302,721 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Matthews International by 0.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,263,962 shares of the company’s stock valued at $78,682,000 after acquiring an additional 6,103 shares during the period. Clarkston Capital Partners LLC grew its stake in shares of Matthews International by 2.2% during the 4th quarter. Clarkston Capital Partners LLC now owns 1,137,592 shares of the company’s stock valued at $60,065,000 after acquiring an additional 24,708 shares during the period. Channing Capital Management LLC grew its stake in shares of Matthews International by 12.7% during the 3rd quarter. Channing Capital Management LLC now owns 885,504 shares of the company’s stock valued at $55,123,000 after acquiring an additional 99,837 shares during the period. Finally, State Street Corp grew its stake in shares of Matthews International by 4.3% during the 2nd quarter. State Street Corp now owns 785,834 shares of the company’s stock valued at $48,137,000 after acquiring an additional 32,125 shares during the period. Institutional investors own 76.59% of the company’s stock.
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Matthews International Company Profile
Matthews International Corporation is a provider of brand solutions, memorialization products and industrial technologies. The Company operates through three segments: SGK Brand Solutions, Memorialization and Industrial Technologies. The SGK Brand Solutions segment provides brand development, deployment and delivery (consisting of brand management, printing plates and cylinders, pre-media services and imaging services for consumer packaged goods and retail customers, merchandising display systems, and marketing and design services).
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