Matson, Inc. (MATX) Stake Raised by BNP Paribas Arbitrage SA

BNP Paribas Arbitrage SA raised its holdings in Matson, Inc. (NYSE:MATX) by 54.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,483 shares of the shipping company’s stock after buying an additional 4,737 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in Matson were worth $405,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of MATX. Bank of Montreal Can grew its position in shares of Matson by 10.9% in the 1st 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 during the last quarter. Great West Life Assurance Co. Can grew its position in shares of Matson by 8.6% in the 1st quarter. Great West Life Assurance Co. Can now owns 56,799 shares of the shipping company’s stock worth $1,801,000 after buying an additional 4,503 shares during the last quarter. First Trust Advisors LP grew its position in shares of Matson by 66.0% in the 1st quarter. First Trust Advisors LP now owns 52,729 shares of the shipping company’s stock worth $1,675,000 after buying an additional 20,959 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of Matson by 5.1% in the 1st quarter. Bank of New York Mellon Corp now owns 686,361 shares of the shipping company’s stock worth $21,799,000 after buying an additional 33,523 shares during the last quarter. Finally, UBS Asset Management Americas Inc. grew its position in shares of Matson by 6.8% in the 1st quarter. UBS Asset Management Americas Inc. now owns 13,995 shares of the shipping company’s stock worth $444,000 after buying an additional 890 shares during the last quarter. Hedge funds and other institutional investors own 84.23% of the company’s stock.

Shares of Matson, Inc. (NYSE MATX) opened at 25.99 on Friday. The company’s 50 day moving average price is $27.06 and its 200 day moving average price is $29.92. Matson, Inc. has a 52-week low of $21.63 and a 52-week high of $42.00. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of 14.93 and a beta of 1.17.

Matson (NYSE:MATX) last issued its quarterly earnings results on Monday, July 31st. The shipping company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.11. Matson had a return on equity of 16.10% and a net margin of 3.76%. The firm had revenue of $512.50 million for the quarter, compared to the consensus estimate of $495.19 million. During the same period in the prior year, the business posted $0.42 earnings per share. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. On average, analysts predict that Matson, Inc. will post $1.68 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 7th. Stockholders of record on Thursday, August 3rd were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.08%. This is an increase from Matson’s previous quarterly dividend of $0.19. The ex-dividend date was Tuesday, August 1st. Matson’s dividend payout ratio is presently 46.24%.

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A number of brokerages have recently weighed in on MATX. Zacks Investment Research upgraded Matson from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a research report on Thursday, August 3rd. Stephens set a $40.00 price objective on Matson and gave the stock a “buy” rating in a research report on Saturday, June 10th. Stifel Nicolaus upgraded Matson from a “hold” rating to a “buy” rating and set a $30.00 price objective on the stock in a research report on Friday, August 18th. BidaskClub lowered Matson from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 23rd. Finally, Wells Fargo & Company lowered Matson from a “market perform” rating to an “underperform” rating and set a $22.00 price objective on the stock. in a research report on Friday, August 18th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $27.00.

In other Matson news, Director Jeffrey N. Watanabe purchased 4,100 shares of Matson stock in a transaction dated Wednesday, August 23rd. The shares were purchased at an average cost of $24.07 per share, for a total transaction of $98,687.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Thomas B. Fargo purchased 2,000 shares of Matson stock in a transaction dated Monday, August 21st. The stock was acquired at an average price of $23.61 per share, for a total transaction of $47,220.00. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 12,200 shares of company stock worth $292,734. Company insiders own 2.60% of the company’s stock.

About Matson

Matson, Inc, through its subsidiaries, operates as an ocean cargo carrier. The company operates in two segments, Ocean Transportation and Logistics. The Ocean Transportation segment offers ocean transportation services to the domestic economies of Hawaii, Alaska, and Guam, as well as to other island economies in Micronesia and in the South Pacific.

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Institutional Ownership by Quarter for Matson (NYSE:MATX)

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