Louisiana State Employees Retirement System maintained its stake in shares of Matson Inc. (NYSE:MATX) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,200 shares of the company’s stock at the end of the second quarter. Louisiana State Employees Retirement System’s holdings in Matson were worth $620,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of MATX. 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 worth $46,757,000 after buying an additional 118,805 shares during the period. 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 worth $6,567,000 after buying an additional 51,276 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 worth $17,020,000 after buying an additional 28,072 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 worth $38,961,000 after buying an additional 25,707 shares during the period. Finally, Barclays PLC purchased a new stake in shares of Matson during the first quarter worth approximately $983,000. Institutional investors own 81.90% of the company’s stock.
Shares of Matson Inc. (NYSE:MATX) traded down 1.33% during mid-day trading on Friday, hitting $40.07. The stock had a trading volume of 135,461 shares. The company has a market cap of $1.72 billion, a P/E ratio of 16.82 and a beta of 1.19. The firm’s 50 day moving average price is $39.53 and its 200 day moving average price is $36.25. Matson Inc. has a 1-year low of $30.54 and a 1-year high of $53.18.
Matson (NYSE:MATX) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $0.42 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.42. Matson had a return on equity of 25.99% and a net margin of 5.31%. The company earned $467.70 million during the quarter, compared to analysts’ expectations of $487.35 million. During the same period in the prior year, the company earned $0.56 EPS. Matson’s revenue was up 4.5% compared to the same quarter last year. Analysts predict that Matson Inc. will post $2.03 earnings per share for the current fiscal year.
A number of analysts have recently commented on MATX shares. Zacks Investment Research upgraded Matson from a “sell” rating to a “hold” rating in a report on Thursday, July 21st. Stifel Nicolaus restated a “buy” rating and issued a $46.00 price target on shares of Matson in a report on Monday, October 10th.
In related news, insider Vic S. Angoco, Jr. sold 12,162 shares of the stock in a transaction on Thursday, September 1st. The stock was 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 directly owns 48,722 shares in the company, valued at $1,958,624.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Vic S. Angoco, Jr. sold 11,476 shares of the stock in a transaction 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 completion of the sale, the senior vice president now owns 51,621 shares of the company’s stock, valued at $1,876,423.35. The disclosure for this sale can be found here. 2.36% of the stock is owned by corporate insiders.
Matson Inc is a transportation company in the Marine industry.
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