LSV Asset Management bought a new position in shares of Matson (NYSE:MATX) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 44,825 shares of the shipping company’s stock, valued at approximately $1,283,000. LSV Asset Management owned approximately 0.11% of Matson as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. SG Americas Securities LLC acquired a new position in shares of Matson during the 1st quarter worth approximately $135,000. UBS Asset Management Americas Inc. acquired a new position in shares of Matson during the 4th quarter worth approximately $209,000. Verition Fund Management LLC acquired a new position in shares of Matson during the 4th quarter worth approximately $218,000. Crossmark Global Holdings Inc. grew its position in shares of Matson by 49.7% during the 4th quarter. Crossmark Global Holdings Inc. now owns 12,416 shares of the shipping company’s stock worth $370,000 after purchasing an additional 4,123 shares in the last quarter. Finally, TCW Group Inc. acquired a new position in shares of Matson during the 4th quarter worth approximately $394,000. Hedge funds and other institutional investors own 84.23% of the company’s stock.
MATX has been the topic of a number of analyst reports. Zacks Investment Research upgraded shares of Matson from a “hold” rating to a “strong-buy” rating and set a $40.00 target price on the stock in a research report on Thursday, February 1st. Seaport Global Securities upgraded shares of Matson from a “neutral” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Monday, January 29th. Stifel Nicolaus restated a “buy” rating and set a $38.00 target price (up previously from $32.00) on shares of Matson in a research report on Monday, January 29th. Wells Fargo & Co upgraded shares of Matson from an “underperform” rating to a “market perform” rating in a research report on Monday, January 29th. Finally, TheStreet lowered shares of Matson from a “b” rating to a “c+” rating in a research report on Friday, March 2nd. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $37.50.
Matson opened at $34.48 on Wednesday, according to MarketBeat.com. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 1.27. The company has a market cap of $1.49 billion, a P/E ratio of 19.37, a PEG ratio of 3.19 and a beta of 1.44. Matson has a 1 year low of $21.63 and a 1 year high of $40.32.
Matson (NYSE:MATX) last posted its quarterly earnings results on Tuesday, May 1st. The shipping company reported $0.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.10. The business had revenue of $511.40 million for the quarter, compared to analyst estimates of $463.48 million. Matson had a net margin of 11.48% and a return on equity of 14.30%. The firm’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter last year, the business posted $0.16 EPS. equities analysts expect that Matson will post 2.19 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, June 7th. Investors of record on Thursday, May 10th will be given a dividend of $0.20 per share. The ex-dividend date is Wednesday, May 9th. This represents a $0.80 annualized dividend and a dividend yield of 2.32%. Matson’s dividend payout ratio is 44.94%.
In related news, Director W Blake Baird sold 2,000 shares of the stock in a transaction that occurred on Friday, May 4th. The shares were sold at an average price of $31.12, for a total value of $62,240.00. Following the completion of the transaction, the director now owns 17,015 shares of the company’s stock, valued at approximately $529,506.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jeffrey N. Watanabe sold 3,500 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $29.37, for a total transaction of $102,795.00. The disclosure for this sale can be found here. Insiders have sold a total of 48,773 shares of company stock worth $1,482,732 in the last quarter. 2.48% of the stock is currently owned by company insiders.
Matson, Inc provides ocean transportation and logistics services. The company's Ocean Transportation segment offers ocean freight transportation services to the domestic non-contiguous economies of Hawaii, Alaska, and Guam, as well as to other island economies in Micronesia. It primarily transports dry containers of mixed commodities, refrigerated commodities, packaged foods and beverages, building materials, automobiles, and household goods; livestock; seafood; general sustenance cargo; and garments, footwear, and other retail merchandise.
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