Matthews International (NASDAQ:MATW) Trading 6.2% Higher – Here’s Why

Matthews International Corporation (NASDAQ:MATW)’s stock price traded up 6.2% during trading on Thursday . The stock traded as high as $25.16 and last traded at $25.19. 28,420 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 233,164 shares. The stock had previously closed at $23.71.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Weiss Ratings restated a “sell (d)” rating on shares of Matthews International in a research report on Wednesday, October 8th. Wall Street Zen raised Matthews International from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has a consensus rating of “Sell”.

Matthews International Price Performance

The firm’s 50 day moving average is $23.95 and its 200 day moving average is $23.27. The firm has a market cap of $785.02 million, a P/E ratio of -12.03 and a beta of 1.30. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.66 and a quick ratio of 0.98.

Matthews International (NASDAQ:MATW) last announced its quarterly earnings results on Wednesday, February 16th. The company reported $0.68 earnings per share for the quarter. Matthews International had a negative net margin of 4.01% and a positive return on equity of 9.15%. The company had revenue of $386.66 million during the quarter. As a group, analysts anticipate that Matthews International Corporation will post 1.73 earnings per share for the current year.

Institutional Trading of Matthews International

A number of institutional investors have recently made changes to their positions in MATW. Principal Financial Group Inc. grew its stake in shares of Matthews International by 3.9% in the first quarter. Principal Financial Group Inc. now owns 154,136 shares of the company’s stock worth $3,428,000 after acquiring an additional 5,813 shares during the period. New York State Common Retirement Fund increased its holdings in Matthews International by 15.2% in the 1st quarter. New York State Common Retirement Fund now owns 224,879 shares of the company’s stock worth $5,001,000 after acquiring an additional 29,720 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Matthews International by 2.6% during the first quarter. PNC Financial Services Group Inc. now owns 25,600 shares of the company’s stock worth $569,000 after acquiring an additional 650 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Matthews International by 11.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 370,457 shares of the company’s stock valued at $8,239,000 after acquiring an additional 38,740 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in Matthews International in the 1st quarter worth $2,578,000. Hedge funds and other institutional investors own 83.08% of the company’s stock.

About Matthews International

Matthews International Corporation provides brand solutions, memorialization products, and industrial technologies worldwide. It operates through three segments: Memorialization, Industrial Technologies, and SGK Brand Solutions. The Memorialization segment provides bronze and granite memorials, upright granite memorials and monuments, concrete burial vaults, cremation memorialization products, granite benches, flower vases, crypt plates and letters, cremation urns, niche units, cemetery features, and statues, as well as bronze plaques, letters, emblems, vases, lights and photo ceramics, granite monuments, mausoleums, crypts, and flush memorials.