Bank of Hawaii raised its stake in Matson Inc. (NYSE:MATX) by 9.4% during the second quarter, Holdings Channel reports. The fund owned 106,401 shares of the company’s stock after buying an additional 9,151 shares during the period. Bank of Hawaii’s holdings in Matson were worth $3,435,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bank of Montreal Can bought a new position in Matson during the second quarter valued at $127,000. Schonfeld Strategic Advisors LLC bought a new position in Matson during the first quarter valued at $365,000. Aperio Group LLC boosted its position in Matson by 5.9% in the first quarter. Aperio Group LLC now owns 9,713 shares of the company’s stock valued at $390,000 after buying an additional 542 shares during the last quarter. CKW Financial Group boosted its position in Matson by 53.1% in the second quarter. CKW Financial Group now owns 14,422 shares of the company’s stock valued at $466,000 after buying an additional 5,000 shares during the last quarter. Finally, Capstone Asset Management Co. boosted its position in Matson by 5.0% in the second quarter. Capstone Asset Management Co. now owns 14,773 shares of the company’s stock valued at $477,000 after buying an additional 700 shares during the last quarter. Institutional investors and hedge funds own 81.88% of the company’s stock.
Matson Inc. (NYSE:MATX) traded up 1.16% during trading on Wednesday, reaching $40.85. 38,268 shares of the company traded hands. The company has a market capitalization of $1.75 billion, a P/E ratio of 17.15 and a beta of 1.19. Matson Inc. has a 52 week low of $30.54 and a 52 week high of $53.18. The firm has a 50-day moving average price of $39.73 and a 200-day moving average price of $36.20.
Matson (NYSE:MATX) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.42 EPS for the quarter, meeting analysts’ consensus estimates of $0.42. The company had revenue of $467.70 million for the quarter, compared to analyst estimates of $487.35 million. Matson had a return on equity of 25.99% and a net margin of 5.31%. The company’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.56 earnings per share. Analysts forecast that Matson Inc. will post $2.03 earnings per share for the current fiscal year.
Several equities analysts recently weighed in on the stock. Zacks Investment Research raised shares of Matson from a “hold” rating to a “buy” rating and set a $46.00 target price for the company in a research note on Wednesday, October 12th. Stifel Nicolaus reaffirmed a “buy” rating and set a $46.00 target price on shares of Matson in a research note on Monday, October 10th.
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 sale, the insider now directly owns 48,722 shares in the company, valued at $1,958,624.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Vic S. Angoco, Jr. sold 11,476 shares of the business’s stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $36.35, for a total value of $417,152.60. Following the completion of the sale, the senior vice president now owns 51,621 shares in the company, valued at $1,876,423.35. The disclosure for this sale can be found here. 2.36% of the stock is owned by insiders.
Matson Inc is a transportation company in the Marine industry.
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