PineBridge Investments L.P. raised its position in Matson Inc. (NYSE:MATX) by 3.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,485 shares of the company’s stock after buying an additional 176 shares during the period. PineBridge Investments L.P.’s holdings in Matson were worth $177,000 as of its most recent filing with the SEC.
A number of other institutional investors have also made changes to their positions in MATX. Geode Capital Management LLC raised its position in shares of Matson by 4.4% in the first quarter. Geode Capital Management LLC now owns 383,981 shares of the company’s stock worth $15,424,000 after buying an additional 16,212 shares in the last quarter. UBS Group AG raised its position in shares of Matson by 61.9% in the first quarter. UBS Group AG now owns 32,051 shares of the company’s stock valued at $1,287,000 after buying an additional 12,250 shares during the period. State Street Corp raised its position in shares of 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. OMERS ADMINISTRATION Corp purchased a new position in shares of Matson during the first quarter valued at approximately $632,000. Finally, M&T Bank Corp raised 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. Institutional investors and hedge funds own 81.90% of the company’s stock.
Shares of Matson Inc. (NYSE:MATX) traded up 0.56% during trading on Friday, hitting $39.79. The stock had a trading volume of 2,433 shares. Matson Inc. has a 12 month low of $30.54 and a 12 month high of $53.18. The company has a market cap of $1.71 billion, a PE ratio of 16.70 and a beta of 1.27. The stock has a 50 day moving average of $38.35 and a 200 day moving average of $36.13.
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 Thomson Reuters’ consensus estimate of $0.42. The company had revenue of $467.70 million for the quarter, compared to the consensus estimate of $487.35 million. Matson had a return on equity of 25.99% and a net margin of 5.31%. Matson’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.56 earnings per share. Equities analysts forecast that Matson Inc. will post $2.03 EPS for the current fiscal year.
Separately, Zacks Investment Research upgraded Matson from a “sell” rating to a “hold” rating in a research report on Friday, July 8th.
In other news, insider Vic S. Angoco, Jr. sold 12,162 shares of the business’s stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $40.20, for a total value of $488,912.40. Following the transaction, the insider now directly owns 48,722 shares in the company, valued at $1,958,624.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director W Blake Baird sold 1,000 shares of the business’s stock in a transaction dated Friday, September 2nd. The shares were sold at an average price of $41.67, for a total value of $41,670.00. Following the completion of the transaction, the director now owns 17,745 shares in the company, valued at $739,434.15. 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.
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