Matson Inc. (MATX) Given “Buy” Rating at Stifel Nicolaus
Separately, Zacks Investment Research raised Matson from a sell rating to a hold rating in a research note on Friday, July 8th.
Matson (NYSE:MATX) traded up 0.25% during midday trading on Monday, reaching $40.65. The company’s stock had a trading volume of 31,804 shares. The firm has a market cap of $1.75 billion, a P/E ratio of 17.07 and a beta of 1.19. Matson has a 52-week low of $30.54 and a 52-week high of $53.18. The firm has a 50 day moving average of $39.08 and a 200 day moving average of $36.14.
Matson (NYSE:MATX) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $0.42 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.42. Matson had a return on equity of 25.99% and a net margin of 5.31%. The firm earned $467.70 million during the quarter, compared to analysts’ expectations of $487.35 million. During the same quarter last year, the firm posted $0.56 earnings per share. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. Analysts anticipate that Matson will post $2.03 earnings per share for the current fiscal year.
In related news, insider Vic S. Angoco, Jr. sold 12,162 shares of Matson stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $40.20, for a total transaction of $488,912.40. Following the sale, the insider now directly owns 48,722 shares in the company, valued at $1,958,624.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director W Blake Baird sold 1,000 shares of Matson stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $35.96, for a total value of $35,960.00. Following the sale, the director now owns 18,745 shares in the company, valued at $674,070.20. The disclosure for this sale can be found here. Corporate insiders own 2.36% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Macquarie Group Ltd. raised its stake in shares of Matson by 3.2% in the second quarter. Macquarie Group Ltd. now owns 841,445 shares of the company’s stock worth $27,170,000 after buying an additional 26,168 shares during the period. Mason Street Advisors LLC purchased a new stake in shares of Matson during the second quarter valued at about $273,000. Calvert Investment Management Inc. raised its stake in shares of Matson by 17.4% in the second quarter. Calvert Investment Management Inc. now owns 82,503 shares of the company’s stock valued at $2,664,000 after buying an additional 12,228 shares during the last quarter. Advisory Research Inc. purchased a new stake in shares of Matson during the second quarter valued at about $17,113,000. Finally, Arizona State Retirement System raised its stake in shares of Matson by 0.9% in the second quarter. Arizona State Retirement System now owns 22,485 shares of the company’s stock valued at $726,000 after buying an additional 200 shares during the last quarter. Institutional investors and hedge funds own 81.90% of the company’s stock.
Matson Inc is a transportation company in the Marine industry.
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