Matson Inc. (NYSE:MATX)‘s stock had its “buy” rating reaffirmed by research analysts at Stifel Nicolaus in a research report issued on Monday.
Separately, Zacks Investment Research raised shares of Matson from a “hold” rating to a “buy” rating and set a $41.00 price target on the stock in a research report on Wednesday, July 27th.
Shares of Matson (NYSE:MATX) traded up 1.871% during midday trading on Monday, hitting $40.555. The stock had a trading volume of 62,003 shares. The firm has a 50 day moving average of $38.96 and a 200-day moving average of $36.18. The company has a market cap of $1.74 billion, a P/E ratio of 17.026 and a beta of 1.19. Matson has a one year low of $30.54 and a one year high of $53.18.
Matson (NYSE:MATX) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.42 EPS for the quarter, hitting the consensus estimate of $0.42. Matson had a net margin of 5.31% and a return on equity of 25.99%. The business had revenue of $467.70 million for the quarter, compared to analysts’ expectations of $487.35 million. During the same quarter last year, the company posted $0.56 earnings per share. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. On average, analysts forecast that Matson will post $2.03 earnings per share for the current fiscal year.
In related news, Director W Blake Baird sold 1,000 shares of the stock in a transaction dated 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 in the company, valued at $674,070.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Vic S. Angoco, Jr. sold 12,162 shares of the stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $40.20, for a total transaction of $488,912.40. Following 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.
Large investors have recently added to or reduced their stakes in the company. Schonfeld Strategic Advisors LLC acquired a new stake in Matson during the first quarter valued at $365,000. Hancock Holding Co. raised its stake in Matson by 4.7% in the first quarter. Hancock Holding Co. now owns 20,197 shares of the company’s stock valued at $811,000 after buying an additional 900 shares during the period. Geode Capital Management LLC raised its stake in 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 period. UBS Group AG raised its stake in 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. Finally, State Street Corp raised 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. Hedge funds and other institutional investors own 81.90% of the company’s stock.
Matson Inc is a transportation company in the Marine industry.
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