Shell Asset Management Co. Has $696,000 Stake in Matson, Inc. (NYSE:MATX)
Shell Asset Management Co. continued to hold its position in Matson, Inc. (NYSE:MATX) during the second quarter, Holdings Channel reports. The fund owned 23,184 shares of the shipping company’s stock at the end of the second quarter. Shell Asset Management Co.’s holdings in Matson were worth $696,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. purchased a new position in Matson during the first quarter valued at about $119,000. UBS Group AG increased its position in Matson by 14.0% in the first quarter. UBS Group AG now owns 4,019 shares of the shipping company’s stock valued at $127,000 after buying an additional 495 shares during the last quarter. Bank of Montreal Can increased its position in Matson by 10.9% in the first quarter. Bank of Montreal Can now owns 4,419 shares of the shipping company’s stock valued at $140,000 after buying an additional 434 shares during the last quarter. State of Alaska Department of Revenue increased its position in Matson by 2.4% in the first quarter. State of Alaska Department of Revenue now owns 4,760 shares of the shipping company’s stock valued at $151,000 after buying an additional 110 shares during the last quarter. Finally, Princeton Alpha Management LP purchased a new position in Matson during the first quarter valued at about $273,000. 83.93% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Matson, Inc. (NYSE:MATX) opened at 29.28 on Friday. The firm has a market capitalization of $1.26 billion, a P/E ratio of 16.82 and a beta of 1.13. The firm’s 50-day moving average price is $29.65 and its 200 day moving average price is $31.55. Matson, Inc. has a 12 month low of $27.90 and a 12 month high of $43.00.
Matson (NYSE:MATX) last posted its quarterly earnings data on Monday, July 31st. The shipping company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.11. The company had revenue of $512.50 million for the quarter, compared to analyst estimates of $495.19 million. Matson had a net margin of 3.76% and a return on equity of 16.10%. Matson’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.42 earnings per share. Analysts anticipate 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. Shareholders of record on Thursday, August 3rd will be paid a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, August 1st. This is a positive change from Matson’s previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a yield of 2.73%. Matson’s payout ratio is currently 46.24%.
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Several equities analysts recently issued reports on the company. BidaskClub raised Matson from a “strong sell” rating to a “sell” rating in a research report on Wednesday. Stephens set a $40.00 price target on Matson and gave the stock a “buy” rating in a research report on Saturday, June 10th. Zacks Investment Research raised Matson from a “hold” rating to a “buy” rating and set a $33.00 price target on the stock in a research report on Thursday, August 3rd. Finally, TheStreet downgraded Matson from a “b-” rating to a “c+” rating in a research report on Monday, May 22nd. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $37.00.
In other news, Director Stanley M. Kuriyama purchased 3,300 shares of the company’s stock in a transaction dated Wednesday, May 17th. The shares were acquired at an average cost of $29.75 per share, for a total transaction of $98,175.00. Following the completion of the purchase, the director now directly owns 32,932 shares in the company, valued at approximately $979,727. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director W Blake Baird sold 2,578 shares of the business’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $29.98, for a total transaction of $77,288.44. Following the transaction, the director now owns 15,583 shares in the company, valued at $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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