Fuller & Thaler Asset Management Inc. Purchases 14,674 Shares of Matson, Inc. (MATX)
Fuller & Thaler Asset Management Inc. lifted its position in Matson, Inc. (NYSE:MATX) by 0.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,825,204 shares of the shipping company’s stock after buying an additional 14,674 shares during the quarter. Fuller & Thaler Asset Management Inc. owned about 6.66% of Matson worth $79,614,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Great West Life Assurance Co. Can boosted its position in Matson by 3.1% during the second quarter. Great West Life Assurance Co. Can now owns 58,587 shares of the shipping company’s stock worth $1,759,000 after purchasing an additional 1,788 shares during the period. BNP Paribas Arbitrage SA lifted its holdings in shares of Matson by 54.2% during the second quarter. BNP Paribas Arbitrage SA now owns 13,483 shares of the shipping company’s stock worth $405,000 after buying an additional 4,737 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Matson by 2.1% during the second quarter. Vanguard Group Inc. now owns 3,923,215 shares of the shipping company’s stock worth $117,853,000 after buying an additional 79,971 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in shares of Matson by 8.9% during the first quarter. Schwab Charles Investment Management Inc. now owns 243,875 shares of the shipping company’s stock worth $7,746,000 after buying an additional 20,000 shares during the last quarter. Finally, Piedmont Investment Advisors LLC acquired a new position in shares of Matson during the second quarter worth approximately $280,000. 83.16% of the stock is owned by institutional investors and hedge funds.
Matson, Inc. (NYSE:MATX) traded up $0.21 during trading on Tuesday, reaching $27.65. The company’s stock had a trading volume of 117,500 shares, compared to its average volume of 245,079. 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, Inc. has a 1 year low of $21.63 and a 1 year high of $40.26. The firm has a market capitalization of $1,164.77, a price-to-earnings ratio of 14.14, a P/E/G ratio of 3.13 and a beta of 1.23.
Matson (NYSE:MATX) last released its quarterly earnings data on Thursday, November 2nd. The shipping company reported $0.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.20. Matson had a return on equity of 17.49% and a net margin of 4.12%. The firm had revenue of $543.90 million during the quarter, compared to analyst estimates of $531.61 million. During the same period in the prior year, the company posted $0.59 earnings per share. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. sell-side analysts forecast that Matson, Inc. will post 1.76 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 7th. Shareholders of record on Thursday, November 9th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, November 8th. This represents a $0.80 annualized dividend and a yield of 2.89%. Matson’s dividend payout ratio is currently 41.24%.
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MATX has been the subject of a number of research analyst reports. Zacks Investment Research lowered Matson from a “buy” rating to a “hold” rating in a report on Friday, November 10th. BidaskClub upgraded Matson from a “strong sell” rating to a “sell” rating in a report on Thursday, August 31st. Wells Fargo & Company reiterated an “underperform” rating and set a $22.00 price target on shares of Matson in a report on Monday, September 25th. Stephens lowered Matson from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $38.00 to $23.00 in a report on Friday, August 18th. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $32.00 price target (up from $30.00) on shares of Matson in a report on Thursday, September 21st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. Matson currently has a consensus rating of “Hold” and an average price target of $27.25.
In other news, CFO Joel M. Wine purchased 6,100 shares of the firm’s stock in a transaction that occurred on Wednesday, August 23rd. The shares were acquired at an average price of $24.07 per share, for a total transaction of $146,827.00. Following the completion of the acquisition, the chief financial officer now directly owns 99,411 shares in the company, valued at $2,392,822.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Ronald J. Forest sold 16,491 shares of the firm’s stock in a transaction dated Tuesday, November 7th. The shares were sold at an average price of $29.28, for a total value of $482,856.48. Following the completion of the transaction, the president now owns 94,977 shares in the company, valued at approximately $2,780,926.56. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.
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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