Virginia Retirement Systems ET AL acquired a new position in shares of Matson, Inc. (NYSE:MATX) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 25,300 shares of the shipping company’s stock, valued at approximately $713,000. Virginia Retirement Systems ET AL owned 0.06% of Matson as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Texas Permanent School Fund increased its position in shares of Matson by 0.8% during the second quarter. Texas Permanent School Fund now owns 31,479 shares of the shipping company’s stock worth $946,000 after buying an additional 260 shares during the period. Municipal Employees Retirement System of Michigan grew its holdings in Matson by 4.0% in the second quarter. Municipal Employees Retirement System of Michigan now owns 10,180 shares of the shipping company’s stock worth $306,000 after purchasing an additional 390 shares during the period. UBS Group AG grew its holdings in Matson by 14.0% in 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 period. Teachers Advisors LLC grew its holdings in Matson by 0.8% in the second quarter. Teachers Advisors LLC now owns 75,128 shares of the shipping company’s stock worth $2,257,000 after purchasing an additional 609 shares during the period. Finally, Victory Capital Management Inc. grew its holdings in Matson by 8.1% in the second quarter. Victory Capital Management Inc. now owns 13,107 shares of the shipping company’s stock worth $394,000 after purchasing an additional 980 shares during the period. Institutional investors own 84.17% of the company’s stock.
In other Matson news, President Ronald J. Forest sold 16,491 shares of the firm’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $29.28, for a total value of $482,856.48. Following the transaction, the president now directly owns 94,977 shares of the company’s stock, valued at $2,780,926.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.60% of the stock is currently owned by company insiders.
A number of equities research analysts have commented on the stock. Stifel Nicolaus upgraded shares of Matson from a “hold” rating to a “buy” rating and set a $30.00 price target for the company in a report on Friday, August 18th. Zacks Investment Research cut shares of Matson from a “buy” rating to a “hold” rating in a report on Wednesday, October 11th. BidaskClub upgraded shares of Matson from a “strong sell” rating to a “sell” rating in a report on Thursday, August 31st. Wells Fargo & Company cut shares of Matson from a “market perform” rating to an “underperform” rating and set a $22.00 price target for the company. in a report on Friday, August 18th. 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 report 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 stock. Matson has a consensus rating of “Hold” and a consensus price target of $27.25.
Matson, Inc. (MATX) opened at $28.52 on Friday. Matson, Inc. has a 12 month low of $21.63 and a 12 month high of $40.26. The firm has a market cap of $1,210.62, a price-to-earnings ratio of 14.70, a price-to-earnings-growth ratio of 3.25 and a beta of 1.27. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.56.
Matson (NYSE:MATX) last released its quarterly earnings data on Thursday, November 2nd. The shipping company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.20. Matson had a net margin of 4.12% and a return on equity of 17.49%. The firm had revenue of $543.90 million for the quarter, compared to analyst estimates of $531.61 million. During the same period last year, the firm earned $0.59 earnings per share. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. equities research analysts anticipate that Matson, Inc. will post 1.76 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 7th. Shareholders of record on Thursday, November 9th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date of this dividend was Wednesday, November 8th. Matson’s dividend payout ratio (DPR) is 41.24%.
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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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