NGAM Advisors L.P. boosted its position in shares of Matson, Inc. (NYSE:MATX) by 2.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 71,050 shares of the shipping company’s stock after buying an additional 1,717 shares during the period. NGAM Advisors L.P. owned approximately 0.16% of Matson worth $2,134,000 as of its most recent SEC filing.
A number of other hedge funds have also recently bought and sold shares of the stock. Russell Investments Group Ltd. purchased a new stake in Matson during the fourth quarter worth approximately $351,000. Teachers Advisors LLC raised its stake in Matson by 1.4% in the fourth quarter. Teachers Advisors LLC now owns 70,945 shares of the shipping company’s stock worth $2,511,000 after buying an additional 946 shares in the last quarter. Bank of Montreal Can raised its stake in Matson by 10.9% in the first quarter. Bank of Montreal Can now owns 4,419 shares of the shipping company’s stock worth $140,000 after buying an additional 434 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in Matson by 2.3% in the first quarter. Louisiana State Employees Retirement System now owns 17,600 shares of the shipping company’s stock worth $559,000 after buying an additional 400 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its stake in Matson by 2.4% in the first quarter. State of Alaska Department of Revenue now owns 4,760 shares of the shipping company’s stock worth $151,000 after buying an additional 110 shares in the last quarter. 83.93% of the stock is owned by institutional investors.
Shares of Matson, Inc. (NYSE:MATX) opened at 29.28 on Friday. The stock has a 50 day moving average of $29.65 and a 200-day moving average of $31.55. Matson, Inc. has a 52-week low of $27.90 and a 52-week high of $43.00. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of 16.82 and a beta of 1.13.
Matson (NYSE:MATX) last posted its earnings results on Monday, July 31st. The shipping company reported $0.55 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.11. The company had revenue of $512.50 million during the quarter, compared to analyst estimates of $495.19 million. Matson had a return on equity of 16.10% and a net margin of 3.76%. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.42 EPS. On average, equities research analysts predict that Matson, Inc. will post $1.67 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 7th. Stockholders of record on Thursday, August 3rd will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.73%. The ex-dividend date of this dividend is Tuesday, August 1st. This is a boost from Matson’s previous quarterly dividend of $0.19. Matson’s payout ratio is 46.24%.
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MATX has been the subject of a number of analyst reports. Zacks Investment Research raised shares of Matson from a “sell” rating to a “buy” rating and set a $36.00 price objective for the company in a research note on Wednesday, April 26th. TheStreet lowered shares of Matson from a “b-” rating to a “c+” rating in a research note on Monday, May 22nd. Stephens set a $40.00 price objective on shares of Matson and gave the company a “buy” rating in a research note on Saturday, June 10th. Finally, BidaskClub lowered shares of Matson from a “sell” rating to a “strong sell” rating in a research note on Thursday, June 22nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $37.00.
In other Matson news, Director Stanley M. Kuriyama acquired 3,300 shares of the business’s stock in a transaction dated Wednesday, May 17th. The shares were acquired at an average price of $29.75 per share, for a total transaction of $98,175.00. Following the acquisition, the director now directly owns 32,932 shares of the company’s stock, valued at approximately $979,727. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director W Blake Baird sold 2,578 shares of Matson stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $29.98, for a total value of $77,288.44. Following the transaction, the director now owns 15,583 shares in the company, valued at approximately $467,178.34. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.
Matson, Inc is a transportation company in the Marine industry.
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