Zacks Investment Research downgraded shares of Matthews International (NASDAQ:MATW) from a buy rating to a hold rating in a research report sent to investors on Thursday morning.

According to Zacks, “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. “

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Several other research firms have also recently commented on MATW. BidaskClub upgraded Matthews International from a strong sell rating to a sell rating in a research note on Friday, January 26th. ValuEngine cut Matthews International from a buy rating to a hold rating in a research note on Friday, February 2nd. B. Riley set a $92.00 target price on Matthews International and gave the company a buy rating in a research note on Monday, February 12th. Finally, Wellington Shields upgraded Matthews International from a hold rating to a gradually accumulate rating in a research note on Thursday, March 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $75.00.

Shares of Matthews International stock traded up $0.10 during trading hours on Thursday, reaching $51.30. 18,350 shares of the company’s stock traded hands, compared to its average volume of 171,036. The firm has a market capitalization of $1,671.09, a P/E ratio of 14.41 and a beta of 1.15. The company has a debt-to-equity ratio of 1.20, a current ratio of 2.10 and a quick ratio of 1.48. Matthews International has a one year low of $50.10 and a one year high of $72.60.

Matthews International (NASDAQ:MATW) last released its earnings results on Thursday, January 25th. The company reported $0.64 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.58 by $0.06. The company had revenue of $369.50 million during the quarter, compared to analysts’ expectations of $355.84 million. Matthews International had a return on equity of 15.09% and a net margin of 6.46%. The business’s revenue was up 5.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.62 EPS. equities research analysts anticipate that Matthews International will post 3.89 EPS for the current year.

In other news, VP Robert M. Marsh acquired 3,000 shares of Matthews International stock in a transaction that occurred on Tuesday, January 30th. The shares were purchased at an average cost of $55.50 per share, for a total transaction of $166,500.00. Following the completion of the purchase, the vice president now directly owns 16,207 shares of the company’s stock, valued at approximately $899,488.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Tunon Alvaro Garcia acquired 1,000 shares of Matthews International stock in a transaction that occurred on Monday, February 5th. The shares were purchased at an average price of $52.00 per share, for a total transaction of $52,000.00. The disclosure for this purchase can be found here. Company insiders own 3.80% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in MATW. SG Americas Securities LLC acquired a new position in Matthews International during the third quarter worth about $159,000. Neuberger Berman Group LLC acquired a new position in Matthews International during the third quarter worth about $213,000. FDx Advisors Inc. acquired a new position in Matthews International during the third quarter worth about $221,000. CIBC Asset Management Inc acquired a new position in Matthews International during the fourth quarter worth about $217,000. Finally, Meadow Creek Investment Management LLC grew its holdings in Matthews International by 25.9% during the fourth quarter. Meadow Creek Investment Management LLC now owns 4,964 shares of the company’s stock worth $262,000 after acquiring an additional 1,020 shares during the period. Hedge funds and other institutional investors own 80.74% of the company’s stock.

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About Matthews International

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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