We determine the local symmetries and local transformation properties of certain many-body states called translationally invariant matrix product states (TIMPSs). We focus on physical dimension d = 2 of the local Hilbert spaces and bond dimension D = 3 and use the procedure introduced in Sauerwein et al. [Phys. Rev. Lett. 123, 170504 (2019)] to determine all (including nonglobal) symmetries of those states. We identify and classify the stochastic local operations assisted by classical communication (SLOCC) that are allowed among TIMPSs. We scrutinize two very distinct sets of TIMPSs and show the big diversity (also compared to the case D = 2) occurring in both their symmetries and the possible SLOCC transformations. These results reflect the variety of local properties of MPSs, even if restricted to translationally invariant states with low bond dimension. Finally, we show that states with nontrivial local symmetries are of measure zero for d = 2 and D > 3.

We analyze entanglement in the family of translationally invariant matrix product states (MPS). We give a criterion to determine when two states can be transformed into each other by local operations with a nonvanishing probability, a central question in entanglement theory. This induces a classification within this family of states, which we explicitly carry out for the simplest, nontrivial MPS. We also characterize all symmetries of translationally invariant MPS, both global and local (inhomogeneous). We illustrate our results with examples of states that are relevant in different physical contexts.