2 weeks Ago By ABMN Staff
Envestnet Asset Management Inc. lifted its position in Matson, Inc. ( NYSE:MATX – Free Report ) by 7.
5% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 88,749 shares of the shipping company’s stock after purchasing an additional 6,159 shares during the period. Envestnet Asset Management Inc.
owned about 0.27% of Matson worth $11,967,000 as of its most recent SEC filing. Other hedge funds also recently made changes to their positions in the company.
Norges Bank bought a new stake in Matson in the 4th quarter worth $35,016,000. American Century Companies Inc. boosted its holdings in shares of Matson by 10.
9% during the fourth quarter. American Century Companies Inc. now owns 1,086,932 shares of the shipping company’s stock worth $146,562,000 after purchasing an additional 106,490 shares during the period.
Brandywine Global Investment Management LLC bought a new stake in shares of Matson in the fourth quarter worth about $13,704,000. Pacer Advisors Inc. grew its stake in shares of Matson by 9.
5% in the fourth quarter. Pacer Advisors Inc. now owns 1,049,772 shares of the shipping company’s stock worth $141,551,000 after purchasing an additional 91,172 shares during the last quarter.
Finally, Wedge Capital Management L L P NC bought a new position in Matson during the 4th quarter valued at approximately $9,788,000. 84.76% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades A number of equities research analysts have recently weighed in on MATX shares. Stephens lifted their price objective on Matson from $165.00 to $175.
00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. Stifel Nicolaus lifted their price target on shares of Matson from $150.00 to $160.
00 and gave the company a “hold” rating in a report on Wednesday, February 26th. Insider Buying and Selling at Matson In other Matson news, SVP Richard S. Kinney sold 1,997 shares of the business’s stock in a transaction dated Thursday, March 6th.
The stock was sold at an average price of $137.11, for a total transaction of $273,808.67.
Following the completion of the sale, the senior vice president now owns 8,425 shares of the company’s stock, valued at approximately $1,155,151.75. The trade was a 19.
16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website . Also, EVP John P.
Lauer sold 7,985 shares of the firm’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $134.73, for a total value of $1,075,819.
05. Following the completion of the transaction, the executive vice president now directly owns 25,192 shares in the company, valued at $3,394,118.16.
This trade represents a 24.07 % decrease in their position. The disclosure for this sale can be found here .
Corporate insiders own 2.05% of the company’s stock. Matson Stock Performance Matson stock opened at $98.
29 on Friday. Matson, Inc. has a fifty-two week low of $96.
72 and a fifty-two week high of $169.12. The stock’s 50 day simple moving average is $127.
87 and its two-hundred day simple moving average is $138.07. The company has a debt-to-equity ratio of 0.
14, a quick ratio of 1.13 and a current ratio of 1.13.
The stock has a market cap of $3.23 billion, a price-to-earnings ratio of 8.18 and a beta of 1.
12. Matson ( NYSE:MATX – Get Free Report ) last posted its quarterly earnings data on Tuesday, February 25th. The shipping company reported $3.
80 EPS for the quarter, topping the consensus estimate of $3.20 by $0.60.
Matson had a net margin of 12.37% and a return on equity of 16.89%.
The business had revenue of $890.30 million for the quarter, compared to analyst estimates of $851.78 million.
As a group, analysts expect that Matson, Inc. will post 13.27 earnings per share for the current fiscal year.
Matson Announces Dividend The company also recently declared a quarterly dividend, which was paid on Thursday, March 6th. Stockholders of record on Thursday, February 6th were paid a $0.34 dividend.
The ex-dividend date of this dividend was Thursday, February 6th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.
38%. Matson’s dividend payout ratio (DPR) is currently 9.69%.
About Matson ( Free Report ) Matson, Inc, together with its subsidiaries, engages in the provision of ocean transportation and logistics services. It operates through two segments, Ocean Transportation and Logistics. The Ocean Transportation segment offers ocean freight transportation services to the domestic non-contiguous economies of Hawaii, Japan, Alaska, and Guam, as well as to other island economies in Micronesia.
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