Dimensional Fund Advisors LP reduced its position in Matson, Inc. (NYSE:MATX) by 0.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,554,952 shares of the shipping company’s stock after selling 17,304 shares during the period. Dimensional Fund Advisors LP owned about 5.92% of Matson worth $76,751,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of the business. BlackRock Inc. grew its position in shares of Matson by 83,732.7% during the 1st quarter. BlackRock Inc. now owns 5,978,107 shares of the shipping company’s stock valued at $189,865,000 after acquiring an additional 5,970,976 shares during the period. Great West Life Assurance Co. Can grew its position in shares of Matson by 3.1% during the 2nd quarter. Great West Life Assurance Co. Can now owns 58,587 shares of the shipping company’s stock valued at $1,759,000 after acquiring an additional 1,788 shares during the period. BNP Paribas Arbitrage SA lifted its stake in shares of Matson by 54.2% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 13,483 shares of the shipping company’s stock valued at $405,000 after buying an additional 4,737 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Matson by 5.4% during the 1st quarter. Vanguard Group Inc. now owns 3,843,244 shares of the shipping company’s stock valued at $122,062,000 after buying an additional 195,335 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. lifted its stake in shares of Matson by 8.9% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 243,875 shares of the shipping company’s stock valued at $7,746,000 after buying an additional 20,000 shares in the last quarter. 84.12% of the stock is owned by institutional investors and hedge funds.
In other Matson news, Director Thomas B. Fargo purchased 2,000 shares of the business’s stock in a transaction that occurred on Monday, August 21st. The shares were purchased at an average price of $23.61 per share, for a total transaction of $47,220.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Joel M. Wine purchased 6,100 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was acquired at an average price of $24.07 per share, for a total transaction of $146,827.00. Following the acquisition, the chief financial officer now directly owns 99,411 shares of the company’s stock, valued at approximately $2,392,822.77. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 12,200 shares of company stock worth $292,734. Insiders own 2.60% 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 “buy” rating and set a $33.00 target price on the stock in a research note on Thursday, August 3rd. BidaskClub cut shares of Matson from a “sell” rating to a “strong sell” rating in a research note on Thursday, June 22nd. Finally, Stifel Nicolaus upgraded shares of Matson from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research note on Friday, August 18th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $27.50.
Matson, Inc. (NYSE:MATX) opened at 27.03 on Wednesday. The company’s 50-day moving average is $26.89 and its 200 day moving average is $29.22. Matson, Inc. has a one year low of $21.63 and a one year high of $42.00. The company has a market capitalization of $1.17 billion, a P/E ratio of 15.53 and a beta of 1.22.
Matson (NYSE:MATX) last announced its quarterly earnings data on Monday, July 31st. The shipping company reported $0.55 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.11. The business had revenue of $512.50 million for the quarter, compared to analyst estimates of $495.19 million. Matson had a net margin of 3.76% and a return on equity of 16.10%. The company’s revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.42 EPS. On average, equities analysts anticipate that Matson, Inc. will post $1.67 earnings per share for the current year.
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.
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