OppenheimerFunds Inc. decreased its stake in shares of Matson, Inc. (NYSE:MATX) by 9.6% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 47,792 shares of the shipping company’s stock after selling 5,081 shares during the quarter. OppenheimerFunds Inc. owned about 0.11% of Matson worth $1,426,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently made changes to their positions in the company. Quantbot Technologies LP purchased a new position in Matson during the 3rd quarter worth $191,000. UBS Asset Management Americas Inc. purchased a new position in Matson during the 4th quarter worth $209,000. Crossmark Global Holdings Inc. purchased a new position in Matson during the 3rd quarter worth $234,000. Aperio Group LLC boosted its holdings in Matson by 37.1% during the 3rd quarter. Aperio Group LLC now owns 11,289 shares of the shipping company’s stock worth $318,000 after acquiring an additional 3,054 shares during the last quarter. Finally, TCW Group Inc. purchased a new position in Matson during the 4th quarter worth $394,000. 84.09% of the stock is owned by institutional investors.
Shares of MATX opened at $28.23 on Friday. The company has a market capitalization of $1,220.22, a price-to-earnings ratio of 16.40, a PEG ratio of 2.70 and a beta of 1.43. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 1.22. Matson, Inc. has a 1 year low of $21.63 and a 1 year high of $40.32.
Matson (NYSE:MATX) last issued its earnings results on Tuesday, February 20th. The shipping company reported $0.28 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.30 by ($0.02). Matson had a return on equity of 14.40% and a net margin of 11.33%. The firm had revenue of $516.10 million during the quarter, compared to analysts’ expectations of $504.61 million. During the same period in the prior year, the company earned $0.44 EPS. The firm’s quarterly revenue was down .6% compared to the same quarter last year. sell-side analysts anticipate that Matson, Inc. will post 2.12 earnings per share for the current fiscal year.
A number of equities research analysts have recently commented on MATX shares. Zacks Investment Research upgraded Matson from a “hold” rating to a “strong-buy” rating and set a $40.00 target price on the stock in a research note on Thursday, February 1st. Seaport Global Securities upgraded Matson from a “neutral” rating to a “buy” rating and set a $40.00 price objective on the stock in a research note on Monday, January 29th. Stifel Nicolaus restated a “buy” rating and issued a $38.00 price objective (up from $32.00) on shares of Matson in a research note on Monday, January 29th. Wells Fargo upgraded Matson from an “underperform” rating to a “market perform” rating in a research note on Monday, January 29th. Finally, TheStreet lowered Matson from a “b” rating to a “c+” rating in a report on Friday, March 2nd. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $32.60.
In related news, Director Jeffrey N. Watanabe sold 3,500 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $29.37, for a total transaction of $102,795.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, President Ronald J. Forest sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, March 15th. The shares were sold at an average price of $29.56, for a total value of $295,600.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 31,215 shares of company stock valued at $934,628. 2.48% of the stock is owned by corporate insiders.
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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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