Matson, Inc. (MATX) Shares Sold by Macquarie Group Ltd.

Macquarie Group Ltd. decreased its stake in shares of Matson, Inc. (NYSE:MATX) by 7.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 803,809 shares of the shipping company’s stock after selling 61,906 shares during the period. Macquarie Group Ltd. owned about 1.86% of Matson worth $24,146,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Riverhead Capital Management LLC lifted its position in shares of Matson by 89.2% during the second quarter. Riverhead Capital Management LLC now owns 3,595 shares of the shipping company’s stock worth $108,000 after purchasing an additional 1,695 shares during the last quarter. Ameritas Investment Partners Inc. bought a new position in shares of Matson during the first quarter worth about $119,000. UBS Group AG lifted its position in shares of Matson by 14.0% during the first quarter. UBS Group AG now owns 4,019 shares of the shipping company’s stock worth $127,000 after purchasing an additional 495 shares during the last quarter. Virtu KCG Holdings LLC bought a new position in shares of Matson during the second quarter worth about $248,000. Finally, State of Alaska Department of Revenue lifted its position in shares of Matson by 78.8% during the second quarter. State of Alaska Department of Revenue now owns 8,510 shares of the shipping company’s stock worth $255,000 after purchasing an additional 3,750 shares during the last quarter. 84.13% of the stock is currently owned by institutional investors and hedge funds.

In other Matson news, Director Thomas B. Fargo bought 2,000 shares of the firm’s stock in a transaction dated Monday, August 21st. The shares were acquired at an average cost of $23.61 per share, for a total transaction of $47,220.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director W Blake Baird sold 2,578 shares of Matson stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $29.98, for a total transaction of $77,288.44. Following the sale, the director now owns 15,583 shares in the company, valued at $467,178.34. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 12,200 shares of company stock worth $292,734. 2.60% of the stock is owned by company insiders.

Matson, Inc. (NYSE:MATX) opened at 27.86 on Wednesday. Matson, Inc. has a one year low of $21.63 and a one year high of $42.00. The company has a market cap of $1.20 billion, a PE ratio of 16.00 and a beta of 1.22. The firm has a 50-day moving average of $26.49 and a 200-day moving average of $29.28.

Matson (NYSE:MATX) last issued its earnings results on Monday, July 31st. The shipping company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.11. Matson had a net margin of 3.76% and a return on equity of 16.10%. The business had revenue of $512.50 million for the quarter, compared to analyst estimates of $495.19 million. During the same period in the previous year, the business earned $0.42 EPS. The firm’s revenue was up 9.6% on a year-over-year basis. On average, analysts predict that Matson, Inc. will post $1.68 EPS for the current year.

Several equities analysts have recently commented on MATX shares. Zacks Investment Research cut shares of Matson from a “buy” rating to a “hold” rating in a research report on Wednesday, July 5th. BidaskClub cut shares of Matson from a “sell” rating to a “strong sell” rating in a research report on Thursday, June 22nd. Stifel Nicolaus reaffirmed a “buy” rating and set a $32.00 price target (up previously from $30.00) on shares of Matson in a research report on Thursday, September 21st. Wells Fargo & Company reaffirmed an “underperform” rating and set a $22.00 price target on shares of Matson in a research report on Monday, September 25th. Finally, Stephens cut shares of Matson from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $38.00 to $23.00 in a research report on Friday, August 18th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $27.50.

COPYRIGHT VIOLATION NOTICE: “Matson, Inc. (MATX) Shares Sold by Macquarie Group Ltd.” was originally reported by The Ledger Gazette and is owned by of The Le

Other hedge funds also recently modified their holdings of the company. Riverhead Capital Management LLC lifted its position in shares of Matson by 89.2% during the second quarter. Riverhead Capital Management LLC now owns 3,595 shares of the shipping company’s stock worth $108,000 after purchasing an additional 1,695 shares during the last quarter. Ameritas Investment Partners Inc. bought a new position in shares of Matson during the first quarter worth about $119,000. UBS Group AG lifted its position in shares of Matson by 14.0% during the first quarter. UBS Group AG now owns 4,019 shares of the shipping company’s stock worth $127,000 after purchasing an additional 495 shares during the last quarter. Virtu KCG Holdings LLC bought a new position in shares of Matson during the second quarter worth about $248,000. Finally, State of Alaska Department of Revenue lifted its position in shares of Matson by 78.8% during the second quarter. State of Alaska Department of Revenue now owns 8,510 shares of the shipping company’s stock worth $255,000 after purchasing an additional 3,750 shares during the last quarter. 84.13% of the stock is currently owned by institutional investors and hedge funds.

In other Matson news, Director Thomas B. Fargo bought 2,000 shares of the firm’s stock in a transaction dated Monday, August 21st. The shares were acquired at an average cost of $23.61 per share, for a total transaction of $47,220.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director W Blake Baird sold 2,578 shares of Matson stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $29.98, for a total transaction of $77,288.44. Following the sale, the director now owns 15,583 shares in the company, valued at $467,178.34. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 12,200 shares of company stock worth $292,734. 2.60% of the stock is owned by company insiders.

Matson, Inc. (NYSE:MATX) opened at 27.86 on Wednesday. Matson, Inc. has a one year low of $21.63 and a one year high of $42.00. The company has a market cap of $1.20 billion, a PE ratio of 16.00 and a beta of 1.22. The firm has a 50-day moving average of $26.49 and a 200-day moving average of $29.28.

Matson (NYSE:MATX) last issued its earnings results on Monday, July 31st. The shipping company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.11. Matson had a net margin of 3.76% and a return on equity of 16.10%. The business had revenue of $512.50 million for the quarter, compared to analyst estimates of $495.19 million. During the same period in the previous year, the business earned $0.42 EPS. The firm’s revenue was up 9.6% on a year-over-year basis. On average, analysts predict that Matson, Inc. will post $1.68 EPS for the current year.

Several equities analysts have recently commented on MATX shares. Zacks Investment Research cut shares of Matson from a “buy” rating to a “hold” rating in a research report on Wednesday, July 5th. BidaskClub cut shares of Matson from a “sell” rating to a “strong sell” rating in a research report on Thursday, June 22nd. Stifel Nicolaus reaffirmed a “buy” rating and set a $32.00 price target (up previously from $30.00) on shares of Matson in a research report on Thursday, September 21st. Wells Fargo & Company reaffirmed an “underperform” rating and set a $22.00 price target on shares of Matson in a research report on Monday, September 25th. Finally, Stephens cut shares of Matson from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $38.00 to $23.00 in a research report on Friday, August 18th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $27.50.

COPYRIGHT VIOLATION NOTICE: “Matson, Inc. (MATX) Shares Sold by Macquarie Group Ltd.” was originally reported by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this report on another website, it was copied illegally and reposted in violation of U.S. and international copyright & trademark legislation. The legal version of this report can be accessed at https://ledgergazette.com/2017/10/11/matson-inc-matx-shares-sold-by-macquarie-group-ltd.html.

About Matson

Matson, Inc, through its subsidiaries, operates as an ocean cargo carrier. The company operates in two segments, Ocean Transportation and Logistics. The Ocean Transportation segment offers ocean transportation services to the domestic economies of Hawaii, Alaska, and Guam, as well as to other island economies in Micronesia and in the South Pacific.

Institutional Ownership by Quarter for Matson (NYSE:MATX)

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