StockNews.com assumed coverage on shares of Matthews International (NASDAQ:MATW – Get Rating) in a research note issued to investors on Thursday. The firm set a “buy” rating on the stock.
Matthews International Trading Down 3.4 %
MATW traded down $1.21 during trading hours on Thursday, reaching $34.89. The company’s stock had a trading volume of 676,188 shares, compared to its average volume of 143,371. Matthews International has a fifty-two week low of $22.12 and a fifty-two week high of $39.64. The stock has a market cap of $1.06 billion, a PE ratio of -14.07 and a beta of 1.14. The business’s 50-day moving average is $37.29 and its 200-day moving average is $30.83. The company has a debt-to-equity ratio of 1.65, a current ratio of 1.73 and a quick ratio of 1.06.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its holdings in Matthews International by 0.3% in the first quarter. BlackRock Inc. now owns 5,406,300 shares of the company’s stock valued at $174,948,000 after acquiring an additional 14,222 shares during the last quarter. Vanguard Group Inc. lifted its stake in Matthews International by 2.2% during the first quarter. Vanguard Group Inc. now owns 3,491,378 shares of the company’s stock worth $112,981,000 after purchasing an additional 74,954 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Matthews International by 3.3% during the third quarter. Dimensional Fund Advisors LP now owns 1,530,530 shares of the company’s stock worth $34,300,000 after purchasing an additional 48,529 shares in the last quarter. Gamco Investors INC. ET AL lifted its stake in Matthews International by 5.5% during the first quarter. Gamco Investors INC. ET AL now owns 1,152,150 shares of the company’s stock worth $37,284,000 after purchasing an additional 60,100 shares in the last quarter. Finally, State Street Corp lifted its stake in Matthews International by 0.7% during the second quarter. State Street Corp now owns 1,133,475 shares of the company’s stock worth $32,497,000 after purchasing an additional 8,432 shares in the last quarter. 81.25% of the stock is currently owned by institutional investors and hedge funds.
Matthews International Company Profile
Matthews International Corp. engages in the provision of brand solutions, memorialization products, and industrial technologies. It operates through the following segments: Memorialization, Industrial Technologies, and SGK Brand Solutions. The Memorialization segment consists of bronze and granite memorials, and other memorialization products, caskets and cremation and incineration equipment for the cemetery and funeral home industries.
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