New York State Teachers Retirement System cut its stake in shares of Matson Inc. (NYSE:MATX) by 4.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 86,685 shares of the company’s stock after selling 4,300 shares during the period. New York State Teachers Retirement System’s holdings in Matson were worth $2,799,000 as of its most recent filing with the SEC.
Other institutional investors have also recently added to or reduced their stakes in the company. 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 period. State Street Corp raised its stake 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. 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 period. 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 period. Finally, Panagora Asset Management Inc. raised its stake in shares of Matson by 45.7% in the first quarter. Panagora Asset Management Inc. now owns 163,496 shares of the company’s stock valued at $6,567,000 after buying an additional 51,276 shares during the period. 81.90% of the stock is currently owned by hedge funds and other institutional investors.
Matson Inc. (NYSE:MATX) traded down 1.10% during midday trading on Thursday, reaching $40.61. 185,196 shares of the company traded hands. Matson Inc. has a one year low of $30.54 and a one year high of $53.18. The stock’s 50 day moving average is $39.33 and its 200 day moving average is $36.21. The company has a market capitalization of $1.74 billion, a price-to-earnings ratio of 17.05 and a beta of 1.19.
Matson (NYSE:MATX) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $0.42 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.42. The business had revenue of $467.70 million for the quarter, compared to the consensus estimate of $487.35 million. Matson had a net margin of 5.31% and a return on equity of 25.99%. The company’s revenue was up 4.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.56 earnings per share. On average, equities analysts anticipate that Matson Inc. will post $2.03 earnings per share for the current year.
Several equities research analysts recently issued reports on MATX shares. Zacks Investment Research raised shares of Matson from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a report on Wednesday. Stifel Nicolaus reaffirmed a “buy” rating and set a $46.00 price target on shares of Matson in a report on Monday.
In related news, SVP Vic S. Angoco, Jr. sold 11,476 shares of the company’s stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $36.35, for a total value of $417,152.60. Following the transaction, the senior vice president now directly owns 51,621 shares in the company, valued at $1,876,423.35. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director W Blake Baird sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, September 2nd. The stock was sold at an average price of $41.67, for a total transaction 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. 2.36% of the stock is currently owned by insiders.
Matson Inc is a transportation company in the Marine industry.
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