Reliance Trust Co. of Delaware Cuts Stake in Matson Inc. (MATX)
Reliance Trust Co. of Delaware decreased its position in Matson Inc. (NYSE:MATX) by 0.7% during the third quarter, according to its most recent filing with the SEC. The firm owned 230,309 shares of the company’s stock after selling 1,711 shares during the period. Matson comprises about 1.4% of Reliance Trust Co. of Delaware’s investment portfolio, making the stock its 9th largest position. Reliance Trust Co. of Delaware owned 0.54% of Matson worth $9,185,000 at the end of the most recent quarter.
Several other large investors have also added to or reduced their stakes in the company. PineBridge Investments L.P. raised its stake in shares of Matson by 3.3% in the second quarter. PineBridge Investments L.P. now owns 5,485 shares of the company’s stock valued at $177,000 after buying an additional 176 shares during the period. 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 period. Capstone Asset Management Co. raised its stake in shares of Matson by 5.0% in the second quarter. Capstone Asset Management Co. now owns 14,773 shares of the company’s stock valued at $477,000 after buying an additional 700 shares during the period. Thrivent Financial for Lutherans raised its stake in shares of Matson by 4.0% in the second quarter. Thrivent Financial for Lutherans now owns 20,850 shares of the company’s stock valued at $673,000 after buying an additional 810 shares during the period. Finally, Hancock Holding Co. raised its stake in shares of Matson by 4.2% in the second quarter. Hancock Holding Co. now owns 21,046 shares of the company’s stock valued at $680,000 after buying an additional 849 shares during the period. Institutional investors own 84.29% of the company’s stock.
Matson Inc. (NYSE:MATX) traded down 1.77% on Tuesday, reaching $38.30. The company’s stock had a trading volume of 66,411 shares. The stock has a market cap of $1.64 billion, a P/E ratio of 19.14 and a beta of 1.18. The stock has a 50-day moving average of $39.15 and a 200-day moving average of $36.64. Matson Inc. has a one year low of $28.79 and a one year high of $52.58.
Matson (NYSE:MATX) last issued its quarterly earnings results on Monday, November 7th. The company reported $0.58 EPS for the quarter, missing the consensus estimate of $0.70 by $0.12. Matson had a return on equity of 20.49% and a net margin of 4.57%. The business had revenue of $500.40 million for the quarter, compared to analyst estimates of $481.78 million. During the same quarter in the prior year, the firm earned $0.94 EPS. The firm’s quarterly revenue was down 8.1% compared to the same quarter last year. On average, analysts predict that Matson Inc. will post $1.88 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Thursday, November 10th will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a dividend yield of 1.95%. The ex-dividend date of this dividend is Tuesday, November 8th. Matson’s dividend payout ratio is 38.00%.
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MATX has been the subject of several recent research reports. Stifel Nicolaus lowered Matson from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $46.00 to $38.00 in a report on Tuesday, November 8th. Zacks Investment Research raised Matson from a “hold” rating to a “buy” rating and set a $46.00 price objective for the company in a report on Wednesday, October 12th.
In related news, Director W Blake Baird sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, September 2nd. The shares were sold at an average price of $41.67, for a total transaction of $41,670.00. Following the completion of the transaction, the director now owns 17,745 shares in the company, valued at $739,434.15. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Vic S. Angoco, Jr. sold 12,162 shares of the business’s stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $40.20, for a total transaction of $488,912.40. Following the transaction, the insider now owns 48,722 shares of the company’s stock, valued at approximately $1,958,624.40. The disclosure for this sale can be found here. Insiders own 2.36% of the company’s stock.
Matson Inc is a transportation company in the Marine industry.
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