Matson Inc. (MATX) Position Reduced by Alps Advisors Inc.
Alps Advisors Inc. cut its stake in Matson Inc. (NYSE:MATX) by 6.8% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 10,480 shares of the company’s stock after selling 768 shares during the period. Alps Advisors Inc.’s holdings in Matson were worth $338,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in MATX. BlackRock Institutional Trust Company N.A. boosted its stake in Matson by 11.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,163,982 shares of the company’s stock valued at $46,757,000 after buying an additional 118,805 shares during the period. Panagora Asset Management Inc. boosted its stake in Matson by 45.7% in the first quarter. Panagora Asset Management Inc. now owns 163,496 shares of the company’s stock valued at $6,567,000 after buying an additional 51,276 shares during the period. Hermes Investment Management Ltd. boosted its stake in Matson by 5.6% in the second quarter. Hermes Investment Management Ltd. now owns 527,108 shares of the company’s stock valued at $17,020,000 after buying an additional 28,072 shares during the period. State Street Corp boosted its stake in Matson by 2.7% in the first quarter. State Street Corp now owns 970,099 shares of the company’s stock valued at $38,961,000 after buying an additional 25,707 shares during the period. Finally, Barclays PLC bought a new position in shares of Matson during the first quarter worth about $983,000. Institutional investors own 81.90% of the company’s stock.
Shares of Matson Inc. (NYSE:MATX) traded down 1.10% during trading on Thursday, hitting $40.61. 185,196 shares of the stock were exchanged. Matson Inc. has a 12-month low of $30.54 and a 12-month high of $53.18. The stock has a 50-day moving average of $39.33 and a 200 day moving average of $36.21. The stock has a market cap of $1.74 billion, a P/E ratio of 17.05 and a beta of 1.19.
Matson (NYSE:MATX) last released its earnings results on Tuesday, August 2nd. The company reported $0.42 earnings per share for the quarter, meeting the consensus estimate of $0.42. Matson had a net margin of 5.31% and a return on equity of 25.99%. The firm earned $467.70 million during the quarter, compared to analyst estimates of $487.35 million. During the same quarter in the previous year, the firm earned $0.56 earnings per share. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. Equities analysts predict that Matson Inc. will post $2.03 earnings per share for the current fiscal year.
A number of equities analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Matson from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 4th. Stifel Nicolaus reiterated a “buy” rating and issued a $46.00 price target on shares of Matson in a report on Monday.
In other Matson news, insider Vic S. Angoco, Jr. sold 12,162 shares of the business’s stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $40.20, for a total transaction of $488,912.40. Following the completion of the sale, the insider now owns 48,722 shares in the company, valued at $1,958,624.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director W Blake Baird sold 1,000 shares of the business’s stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $35.96, for a total transaction of $35,960.00. Following the sale, the director now owns 18,745 shares of the company’s stock, valued at approximately $674,070.20. The disclosure for this sale can be found here. Company insiders own 2.36% of the company’s stock.
Matson Inc is a transportation company in the Marine industry.
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