Emerald Acquisition Ltd. Takes Position in Matson Inc. (MATX)
Emerald Acquisition Ltd. bought a new position in Matson Inc. (NYSE:MATX) during the second quarter, Holdings Channel reports. The fund bought 33,961 shares of the company’s stock, valued at approximately $1,097,000. Emerald Acquisition Ltd. owned 0.08% of Matson as of its most recent filing with the SEC.
Other hedge funds have also recently bought and sold shares of the company. M&T Bank Corp boosted its position in shares of Matson by 0.3% in the first quarter. M&T Bank Corp now owns 14,009 shares of the company’s stock valued at $562,000 after buying an additional 47 shares during the period. 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 valued at $390,000 after buying an additional 542 shares during the last quarter. Capstone Asset Management Co. boosted its position in Matson by 5.0% in the second quarter. Capstone Asset Management Co. now owns 14,773 shares of the company’s stock valued at $477,000 after buying an additional 700 shares during the last quarter. Hancock Holding Co. boosted its position in Matson by 4.7% in the first quarter. Hancock Holding Co. now owns 20,197 shares of the company’s stock valued at $811,000 after buying an additional 900 shares during the last quarter. Finally, BlackRock Inc. boosted its position in Matson by 13.2% in the first quarter. BlackRock Inc. now owns 12,099 shares of the company’s stock valued at $486,000 after buying an additional 1,411 shares during the last quarter. Institutional investors and hedge funds own 81.90% of the company’s stock.
Shares of Matson Inc. (NYSE:MATX) traded down 1.82% during midday trading on Friday, hitting $39.81. The stock had a trading volume of 281,583 shares. Matson Inc. has a one year low of $30.54 and a one year high of $53.18. The firm has a 50 day moving average of $38.96 and a 200-day moving average of $36.18. The company has a market cap of $1.71 billion, a P/E 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 EPS for the quarter, hitting the consensus estimate of $0.42. Matson had a net margin of 5.31% and a return on equity of 25.99%. The business had revenue of $467.70 million for the quarter, compared to analysts’ expectations of $487.35 million. During the same quarter last year, the company posted $0.56 earnings per share. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. On average, analysts forecast that Matson Inc. will post $2.03 earnings per share for the current fiscal year.
Separately, Zacks Investment Research raised Matson from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research note on Wednesday, July 27th.
In other Matson news, SVP Vic S. Angoco, Jr. sold 11,476 shares of the firm’s stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $36.35, for a total value of $417,152.60. Following the transaction, the senior vice president now owns 51,621 shares of the company’s stock, valued at $1,876,423.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director W Blake Baird sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $35.96, for a total transaction of $35,960.00. Following the completion of the transaction, the director now directly owns 18,745 shares in the company, valued at approximately $674,070.20. The disclosure for this sale can be found here. Insiders own 2.36% of the company’s stock.
Matson Inc is a transportation company in the Marine industry.
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