Matson, Inc. (MATX) Position Increased by UBS Group AG
UBS Group AG increased its position in shares of Matson, Inc. (NYSE:MATX) by 14.0% during the first quarter, Holdings Channel reports. The institutional investor owned 4,019 shares of the shipping company’s stock after buying an additional 495 shares during the period. UBS Group AG’s holdings in Matson were worth $127,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Matson by 5.4% in the first quarter. Vanguard Group Inc. now owns 3,843,244 shares of the shipping company’s stock worth $122,062,000 after buying an additional 195,335 shares in the last quarter. Hotchkis & Wiley Capital Management LLC raised its position in shares of Matson by 2.9% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 1,404,954 shares of the shipping company’s stock worth $44,621,000 after buying an additional 39,440 shares in the last quarter. Hermes Investment Management Ltd. raised its position in shares of Matson by 2.8% in the first quarter. Hermes Investment Management Ltd. now owns 812,247 shares of the shipping company’s stock worth $25,797,000 after buying an additional 22,228 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of Matson by 5.1% in the first quarter. Bank of New York Mellon Corp now owns 686,361 shares of the shipping company’s stock worth $21,799,000 after buying an additional 33,523 shares in the last quarter. Finally, Investment Counselors of Maryland LLC raised its position in shares of Matson by 23.3% in the first quarter. Investment Counselors of Maryland LLC now owns 646,140 shares of the shipping company’s stock worth $20,521,000 after buying an additional 122,170 shares in the last quarter. Hedge funds and other institutional investors own 83.93% of the company’s stock.
Shares of Matson, Inc. (MATX) traded down 0.37% during midday trading on Friday, reaching $29.28. 215,436 shares of the company’s stock were exchanged. Matson, Inc. has a 1-year low of $27.90 and a 1-year high of $43.00. The firm has a 50-day moving average of $29.65 and a 200-day moving average of $31.55. The company has a market capitalization of $1.26 billion, a PE ratio of 16.82 and a beta of 1.13.
Matson (NYSE:MATX) last released its quarterly earnings data on Monday, July 31st. The shipping company reported $0.55 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.11. Matson had a return on equity of 16.10% and a net margin of 3.76%. The business had revenue of $512.50 million for the quarter, compared to analysts’ expectations of $495.19 million. During the same quarter in the previous year, the business posted $0.42 EPS. Matson’s revenue for the quarter was up 9.6% on a year-over-year basis. Equities analysts expect that Matson, Inc. will post $1.67 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 7th. Stockholders of record on Thursday, August 3rd will be issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.73%. The ex-dividend date of this dividend is Tuesday, August 1st. This is a boost from Matson’s previous quarterly dividend of $0.19. Matson’s payout ratio is 46.24%.
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A number of equities analysts recently issued reports on MATX shares. Zacks Investment Research upgraded shares of Matson from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a research report on Thursday, August 3rd. BidaskClub downgraded shares of Matson from a “sell” rating to a “strong sell” rating in a report on Thursday, June 22nd. Stephens set a $40.00 price target on shares of Matson and gave the company a “buy” rating in a report on Saturday, June 10th. Finally, TheStreet downgraded shares of Matson from a “b-” rating to a “c+” rating in a report on Monday, May 22nd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $37.00.
In other Matson news, Director Stanley M. Kuriyama acquired 3,300 shares of the business’s stock in a transaction dated Wednesday, May 17th. The shares were acquired at an average price of $29.75 per share, for a total transaction of $98,175.00. Following the acquisition, the director now directly owns 32,932 shares of the company’s stock, valued at approximately $979,727. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director W Blake Baird sold 2,578 shares of Matson stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $29.98, for a total value of $77,288.44. Following the transaction, the director now owns 15,583 shares in the company, valued at approximately $467,178.34. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.
Matson, Inc is a transportation company in the Marine industry.
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