First Trust Advisors LP lowered its stake in Matson Inc. (NYSE:MATX) by 38.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,897 shares of the company’s stock after selling 15,320 shares during the period. First Trust Advisors LP owned 0.06% of Matson worth $804,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MATX. Bank of Montreal Can bought a new position in shares of Matson during the second quarter worth about $127,000. Acrospire Investment Management LLC acquired a new stake in Matson during the first quarter worth $137,000. Schonfeld Strategic Advisors LLC acquired a new stake in Matson during the first quarter worth $365,000. Aperio Group LLC boosted its stake in Matson by 5.9% in the first quarter. Aperio Group LLC now owns 9,713 shares of the company’s stock worth $390,000 after buying an additional 542 shares during the last quarter. Finally, CKW Financial Group boosted its stake in Matson by 53.1% in the second quarter. CKW Financial Group now owns 14,422 shares of the company’s stock worth $466,000 after buying an additional 5,000 shares during the last quarter. Institutional investors own 81.90% of the company’s stock.
Shares of Matson Inc. (NYSE:MATX) traded down 1.82% during mid-day trading on Friday, reaching $39.81. The company’s stock had a trading volume of 281,583 shares. Matson Inc. has a 52 week low of $30.54 and a 52 week high of $53.18. The stock has a market capitalization of $1.71 billion, a price-to-earnings ratio of 16.71 and a beta of 1.19. The company’s 50-day moving average is $38.96 and its 200-day moving average is $36.18.
Matson (NYSE:MATX) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.42 earnings per share for the quarter, hitting analysts’ consensus estimates 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 earned $0.56 earnings per share. The company’s revenue was up 4.5% on a year-over-year basis. Equities analysts predict that Matson Inc. will post $2.03 EPS for the current year.
Separately, Zacks Investment Research raised Matson from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a research report on Wednesday, July 27th.
In related news, SVP Vic S. Angoco, Jr. sold 11,476 shares of the stock in a transaction on Monday, August 29th. The stock was sold at an average price of $36.35, for a total value of $417,152.60. Following the transaction, the senior vice president now owns 51,621 shares of the company’s stock, valued at $1,876,423.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Vic S. Angoco, Jr. sold 12,162 shares of the stock in a transaction 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 transaction, the insider now directly owns 48,722 shares in the company, valued at approximately $1,958,624.40. The disclosure for this sale can be found here. Insiders own 2.36% of the company’s stock.
Matson Inc is a transportation company in the Marine industry.
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