Virginia Retirement Systems ET AL Invests $391,000 in Matson Inc. (MATX)
Virginia Retirement Systems ET AL purchased a new stake in Matson Inc. (NYSE:MATX) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 12,100 shares of the company’s stock, valued at approximately $391,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bank of Montreal Can bought a new position in Matson during the second quarter worth $127,000. Acrospire Investment Management LLC bought a new position in Matson during the first quarter worth $137,000. PineBridge Investments L.P. boosted its position in Matson by 3.3% in the second quarter. PineBridge Investments L.P. now owns 5,485 shares of the company’s stock worth $177,000 after buying an additional 176 shares during the last quarter. Schonfeld Strategic Advisors LLC bought a new position in Matson during the first quarter worth $365,000. Finally, Aperio Group LLC boosted its position in Matson by 5.9% in the first quarter. Aperio Group LLC now owns 9,713 shares of the company’s stock worth $390,000 after buying an additional 542 shares during the last quarter. Institutional investors and hedge funds own 81.90% of the company’s stock.
Shares of Matson Inc. (NYSE:MATX) opened at 39.81 on Friday. The company’s 50 day moving average is $38.96 and its 200-day moving average is $36.18. Matson Inc. has a 52 week low of $30.54 and a 52 week high of $53.18. The stock has a market capitalization of $1.71 billion, a PE ratio of 16.71 and a beta of 1.19.
Matson (NYSE:MATX) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.42. Matson had a net margin of 5.31% and a return on equity of 25.99%. The company earned $467.70 million during the quarter, compared to analysts’ expectations of $487.35 million. During the same period last year, the company posted $0.56 EPS. Matson’s revenue was up 4.5% on a year-over-year basis. On average, equities analysts predict that Matson Inc. will post $2.03 earnings per share for the current year.
Separately, Zacks Investment Research cut shares of Matson from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 4th.
In other Matson news, Director W Blake Baird sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $35.96, for a total transaction of $35,960.00. Following the completion of the sale, the director now directly owns 18,745 shares in the company, valued at approximately $674,070.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Vic S. Angoco, Jr. sold 12,162 shares of the firm’s stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $40.20, for a total transaction of $488,912.40. Following the sale, the insider now owns 48,722 shares of the company’s stock, valued at $1,958,624.40. The disclosure for this sale can be found here. Corporate insiders own 2.36% of the company’s stock.
Matson Inc is a transportation company in the Marine industry.
Want to see what other hedge funds are holding MATX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Matson Inc. (NYSE:MATX).
Receive News & Ratings for Matson Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Matson Inc. and related companies with MarketBeat.com's FREE daily email newsletter.