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NEW YORK ( TheStreet) -- Matthews International Corporation (Nasdaq: MATW) hit a new 52-week high Thursday as it is currently trading at $40.33, above its previous 52-week high of $40.30 with 53,882 shares traded as of 12:08 p.m. ET. Average volume has been 87,700 shares over the past 30 days. Matthews International has a market cap of $1.2 billion and is part of the industrial goods sector and industrial industry. Shares are up 13.2% year to date as of the close of trading on Wednesday. Matthews International Corporation designs, manufactures, and markets memorialization products and brand solutions for the cemetery and funeral home industries in the United States, Mexico, Canada, Europe, Australia, and Asia. The company has a P/E ratio of 16.7, equal to the average industrial industry P/E ratio and below the S&P 500 P/E ratio of 17.7.