Benjamin F. Edwards & Company Inc. decreased its position in shares of Matson Inc (NYSE:MATX) by 7.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 26,500 shares of the shipping company’s stock after selling 2,150 shares during the quarter. Benjamin F. Edwards & Company Inc. owned 0.06% of Matson worth $1,050,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. BlackRock Inc. lifted its position in Matson by 7.1% during the second quarter. BlackRock Inc. now owns 6,228,684 shares of the shipping company’s stock worth $239,058,000 after purchasing an additional 414,250 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Matson by 1.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,639,472 shares of the shipping company’s stock worth $101,303,000 after acquiring an additional 36,187 shares during the last quarter. Hermes Investment Management Ltd. lifted its holdings in shares of Matson by 2.3% in the second quarter. Hermes Investment Management Ltd. now owns 787,627 shares of the shipping company’s stock worth $30,229,000 after acquiring an additional 17,662 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Matson by 0.8% in the second quarter. Bank of New York Mellon Corp now owns 734,905 shares of the shipping company’s stock worth $28,206,000 after acquiring an additional 5,742 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Matson by 9.0% in the second quarter. Northern Trust Corp now owns 586,741 shares of the shipping company’s stock worth $22,518,000 after acquiring an additional 48,592 shares during the last quarter. 83.52% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have recently commented on MATX shares. Wells Fargo & Co cut shares of Matson to a “hold” rating and set a $35.00 target price for the company. in a report on Friday, September 28th. Zacks Investment Research cut shares of Matson from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 7th. ValuEngine raised shares of Matson from a “hold” rating to a “buy” rating in a report on Friday, September 28th. Finally, Stifel Nicolaus cut shares of Matson from a “buy” rating to a “hold” rating and set a $43.00 target price for the company. in a report on Tuesday. Three analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $41.50.
Shares of Matson stock traded up $1.30 on Thursday, hitting $38.78. The stock had a trading volume of 222,844 shares, compared to its average volume of 226,929. Matson Inc has a twelve month low of $27.25 and a twelve month high of $41.96. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.92 and a quick ratio of 0.92. The company has a market capitalization of $1.60 billion, a P/E ratio of 21.79, a P/E/G ratio of 3.03 and a beta of 1.39.
Matson (NYSE:MATX) last released its quarterly earnings data on Monday, November 5th. The shipping company reported $0.97 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.06. Matson had a return on equity of 14.31% and a net margin of 11.74%. The company had revenue of $589.40 million during the quarter, compared to the consensus estimate of $565.67 million. During the same quarter in the prior year, the firm posted $0.79 earnings per share. The firm’s revenue was up 8.4% compared to the same quarter last year. Equities analysts anticipate that Matson Inc will post 2.48 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 6th. Stockholders of record on Thursday, November 8th will be paid a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.17%. The ex-dividend date is Wednesday, November 7th. Matson’s dividend payout ratio is currently 47.19%.
In other news, Director Mark H. Fukunaga bought 4,000 shares of the firm’s stock in a transaction on Friday, September 7th. The stock was acquired at an average price of $36.24 per share, with a total value of $144,960.00. Following the transaction, the director now owns 10,432 shares of the company’s stock, valued at approximately $378,055.68. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, President Ronald J. Forest sold 1,000 shares of the stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $37.02, for a total transaction of $37,020.00. Following the sale, the president now directly owns 62,884 shares of the company’s stock, valued at approximately $2,327,965.68. The disclosure for this sale can be found here. Insiders sold 3,000 shares of company stock valued at $111,810 in the last ninety days. 2.48% of the stock is currently owned by insiders.
Matson Company Profile
Matson, Inc provides ocean transportation and logistics services. The company's Ocean Transportation segment offers ocean freight transportation services to the domestic non-contiguous economies of Hawaii, Alaska, and Guam, as well as to other island economies in Micronesia. It primarily transports dry containers of mixed commodities, refrigerated commodities, packaged foods and beverages, building materials, automobiles, and household goods; livestock; seafood; general sustenance cargo; and garments, footwear, and other retail merchandise.
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