Mason Street Advisors LLC bought a new position in shares of Matson Inc. (NYSE:MATX) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 8,457 shares of the company’s stock, valued at approximately $273,000.
A number of other hedge funds have also added to or reduced their stakes in the stock. BlackRock Institutional Trust Company N.A. raised its stake in shares of 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 last quarter. Acrospire Investment Management LLC purchased a new stake in shares of Matson during the first quarter valued at $137,000. Hermes Investment Management Ltd. raised its stake in shares of 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 last quarter. BlackRock Group LTD raised its stake in shares of Matson by 9.4% in the first quarter. BlackRock Group LTD now owns 54,145 shares of the company’s stock valued at $2,175,000 after buying an additional 4,667 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake 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 valued at $15,424,000 after buying an additional 16,212 shares during the last quarter. 81.90% of the stock is currently owned by hedge funds and other institutional investors.
Matson Inc. (NYSE:MATX) opened at 39.81 on Friday. The company’s 50 day moving average price is $38.96 and its 200 day moving average price is $36.18. Matson Inc. has a 52-week low of $30.54 and a 52-week high of $53.18. 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 released its earnings results on Tuesday, August 2nd. The company reported $0.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.42. Matson had a return on equity of 25.99% and a net margin of 5.31%. The business had revenue of $467.70 million for the quarter, compared to analyst estimates of $487.35 million. During the same quarter in the prior year, the company posted $0.56 earnings per share. Matson’s revenue was up 4.5% on a year-over-year basis. Equities research analysts anticipate that Matson Inc. will post $2.03 EPS for the current fiscal year.
Separately, Zacks Investment Research raised Matson from a “sell” rating to a “hold” rating in a report on Friday, July 8th.
In other Matson news, Director W Blake Baird sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $35.96, for a total value of $35,960.00. Following the sale, the director now owns 18,745 shares in the company, valued at $674,070.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Vic S. Angoco, Jr. sold 12,162 shares of the company’s stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $40.20, for a total value of $488,912.40. Following the completion of the sale, the insider now owns 48,722 shares in the company, valued at approximately $1,958,624.40. 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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