Quantamental Technologies LLC bought a new position in Matson Inc (NYSE:MATX) in the 1st quarter, HoldingsChannel.com reports. The fund bought 902 shares of the shipping company’s stock, valued at approximately $33,000.
Several other institutional investors have also modified their holdings of MATX. Arizona State Retirement System boosted its position in Matson by 0.5% during the first quarter. Arizona State Retirement System now owns 66,065 shares of the shipping company’s stock valued at $2,384,000 after purchasing an additional 300 shares during the last quarter. Piedmont Investment Advisors Inc. boosted its position in Matson by 3.3% during the fourth quarter. Piedmont Investment Advisors Inc. now owns 10,156 shares of the shipping company’s stock valued at $325,000 after purchasing an additional 327 shares during the last quarter. Rice Partnership LLC boosted its position in Matson by 1.5% during the fourth quarter. Rice Partnership LLC now owns 32,178 shares of the shipping company’s stock valued at $1,030,000 after purchasing an additional 490 shares during the last quarter. Fruth Investment Management boosted its position in Matson by 8.6% during the fourth quarter. Fruth Investment Management now owns 6,300 shares of the shipping company’s stock valued at $201,000 after purchasing an additional 500 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its position in Matson by 2.2% during the fourth quarter. Thrivent Financial for Lutherans now owns 30,487 shares of the shipping company’s stock valued at $976,000 after purchasing an additional 670 shares during the last quarter. 84.77% of the stock is owned by institutional investors and hedge funds.
In other Matson news, Director W Blake Baird sold 2,500 shares of the firm’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $37.63, for a total transaction of $94,075.00. Following the transaction, the director now directly owns 17,142 shares in the company, valued at $645,053.46. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Michael J. Chun sold 4,398 shares of the firm’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $34.79, for a total value of $153,006.42. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,898 shares of company stock worth $283,471. Corporate insiders own 2.00% of the company’s stock.
MATX opened at $39.00 on Thursday. The firm has a market cap of $1.63 billion, a P/E ratio of 15.42 and a beta of 1.50. Matson Inc has a 1 year low of $30.60 and a 1 year high of $41.96. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 1.34.
Matson (NYSE:MATX) last released its quarterly earnings data on Wednesday, May 8th. The shipping company reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.04. Matson had a return on equity of 14.49% and a net margin of 4.78%. The firm had revenue of $532.40 million during the quarter, compared to analysts’ expectations of $522.89 million. During the same quarter last year, the firm earned $0.33 earnings per share. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. As a group, analysts predict that Matson Inc will post 2.34 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Shareholders of record on Thursday, May 9th will be issued a dividend of $0.21 per share. The ex-dividend date is Wednesday, May 8th. This represents a $0.84 annualized dividend and a yield of 2.15%. Matson’s dividend payout ratio (DPR) is currently 33.20%.
MATX has been the subject of a number of research reports. Stifel Nicolaus set a $37.00 price objective on Matson and gave the company a “hold” rating in a research report on Friday, February 22nd. Zacks Investment Research cut Matson from a “hold” rating to a “sell” rating in a research report on Tuesday. Finally, Stephens raised Matson from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $40.00 to $44.00 in a research report on Monday, February 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $40.25.
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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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