Separately, Zacks Investment Research lowered Matson from a strong-buy rating to a hold rating in a research report on Thursday, August 4th.
Shares of Matson (NYSE:MATX) opened at 40.61 on Monday. The stock has a 50 day moving average of $39.44 and a 200-day moving average of $36.24. The stock has a market capitalization of $1.74 billion, a price-to-earnings ratio of 17.05 and a beta of 1.19. Matson has a 52-week low of $30.54 and a 52-week high of $53.18.
Matson (NYSE:MATX) last announced its earnings results on Tuesday, August 2nd. The company reported $0.42 earnings per share 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 analyst estimates of $487.35 million. During the same period last year, the company posted $0.56 earnings per share. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. On average, equities research analysts predict that Matson will post $2.03 EPS for the current fiscal year.
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 transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director W Blake Baird sold 1,000 shares of the business’s stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $35.96, for a total value of $35,960.00. Following the transaction, the director now owns 18,745 shares of the company’s stock, valued at $674,070.20. The disclosure for this sale can be found here. 2.36% of the stock is owned by corporate insiders.
Several institutional investors have recently bought and sold shares of the company. Schonfeld Strategic Advisors LLC acquired a new position in Matson during the first quarter valued at $365,000. Hancock Holding Co. boosted its position 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 boosted its position 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 boosted its position 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 boosted its position 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. Institutional investors own 81.90% of the company’s stock.
Matson Inc is a transportation company in the Marine industry.
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