River & Mercantile Asset Management LLP bought a new stake in Matson Inc (NYSE:MATX) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 2,100 shares of the shipping company’s stock, valued at approximately $82,000.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. BlackRock Inc. lifted its position in Matson by 0.7% in the second quarter. BlackRock Inc. now owns 6,454,647 shares of the shipping company’s stock valued at $250,763,000 after buying an additional 44,010 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Matson by 8.9% during the second quarter. Price T Rowe Associates Inc. MD now owns 3,788,298 shares of the shipping company’s stock worth $147,175,000 after purchasing an additional 311,148 shares during the period. Bank of New York Mellon Corp increased its stake in Matson by 3.5% during the second quarter. Bank of New York Mellon Corp now owns 702,517 shares of the shipping company’s stock worth $27,293,000 after purchasing an additional 23,581 shares during the period. Northern Trust Corp increased its stake in Matson by 12.0% during the second quarter. Northern Trust Corp now owns 662,058 shares of the shipping company’s stock worth $25,721,000 after purchasing an additional 71,084 shares during the period. Finally, Geode Capital Management LLC increased its stake in Matson by 7.7% during the fourth quarter. Geode Capital Management LLC now owns 444,885 shares of the shipping company’s stock worth $14,245,000 after purchasing an additional 31,971 shares during the period. 87.39% of the stock is currently owned by institutional investors.
Shares of NYSE:MATX opened at $36.79 on Friday. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.68 and a quick ratio of 0.68. The firm has a market capitalization of $1.54 billion, a PE ratio of 16.58, a price-to-earnings-growth ratio of 3.57 and a beta of 1.61. The firm’s 50-day moving average is $37.18 and its two-hundred day moving average is $37.69. Matson Inc has a 1 year low of $30.60 and a 1 year high of $42.15.
Matson (NYSE:MATX) last issued its quarterly earnings results on Wednesday, August 7th. The shipping company reported $0.43 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.63 by ($0.20). Matson had a return on equity of 12.30% and a net margin of 4.15%. The business had revenue of $557.90 million for the quarter, compared to analysts’ expectations of $577.55 million. During the same quarter last year, the company earned $0.76 earnings per share. The firm’s revenue for the quarter was up .1% on a year-over-year basis. Analysts expect that Matson Inc will post 2.01 EPS for the current fiscal year.
In related news, insider Vic S. Angoco, Jr. sold 16,100 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $35.14, for a total transaction of $565,754.00. Following the sale, the insider now directly owns 43,926 shares in the company, valued at $1,543,559.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Rusty K. Rolfe sold 3,047 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $40.67, for a total transaction of $123,921.49. Following the sale, the senior vice president now owns 56,304 shares in the company, valued at $2,289,883.68. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.
A number of analysts have issued reports on the stock. Zacks Investment Research lowered shares of Matson from a “hold” rating to a “sell” rating in a research note on Saturday, August 10th. ValuEngine upgraded shares of Matson from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st.
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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