BlackRock Investment Management LLC Buys 907 Shares of Matson, Inc. (MATX)
BlackRock Investment Management LLC increased its stake in shares of Matson, Inc. (NYSE:MATX) by 0.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 189,935 shares of the company’s stock after buying an additional 907 shares during the period. BlackRock Investment Management LLC owned 0.44% of Matson worth $7,575,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of the stock. Prudential Financial Inc. raised its position in Matson by 22.7% in the third quarter. Prudential Financial Inc. now owns 315,435 shares of the company’s stock valued at $12,579,000 after buying an additional 58,360 shares during the period. US Bancorp DE raised its position in Matson by 715.1% in the third quarter. US Bancorp DE now owns 13,792 shares of the company’s stock worth $549,000 after buying an additional 12,100 shares during the last quarter. UBS Asset Management Americas Inc. raised its position in Matson by 57.6% in the third quarter. UBS Asset Management Americas Inc. now owns 18,600 shares of the company’s stock worth $742,000 after buying an additional 6,800 shares during the last quarter. North Point Portfolio Managers Corp OH acquired a new position in Matson during the third quarter worth approximately $243,000. Finally, PNC Financial Services Group Inc. raised its position in Matson by 1.4% in the third quarter. PNC Financial Services Group Inc. now owns 61,606 shares of the company’s stock worth $2,458,000 after buying an additional 845 shares during the last quarter. Institutional investors own 84.23% of the company’s stock.
Matson, Inc. (NYSE:MATX) traded up 0.62% during trading on Friday, hitting $35.71. The stock had a trading volume of 16,664 shares. Matson, Inc. has a 12-month low of $28.79 and a 12-month high of $43.24. The company has a market capitalization of $1.53 billion, a price-to-earnings ratio of 17.85 and a beta of 1.10. The stock has a 50 day moving average price of $37.03 and a 200 day moving average price of $37.53.
Matson (NYSE:MATX) last announced its earnings results on Monday, November 7th. The company reported $0.58 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.70 by $0.12. The company earned $500.40 million during the quarter, compared to analyst estimates of $481.78 million. Matson had a return on equity of 20.49% and a net margin of 4.57%. Matson’s revenue for the quarter was down 8.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.94 earnings per share. Equities research analysts forecast that Matson, Inc. will post $1.87 earnings per share for the current year.
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A number of equities analysts have recently commented on the company. Zacks Investment Research upgraded Matson from a “sell” rating to a “hold” rating in a research note on Wednesday. Seaport Global Securities reiterated a “neutral” rating on shares of Matson in a research note on Wednesday, December 21st. Finally, Stifel Nicolaus lowered Matson from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $46.00 to $38.00 in a research note on Tuesday, November 8th.
In related news, SVP Peter T. Heilmann sold 3,218 shares of the company’s stock in a transaction on Monday, December 5th. The shares were sold at an average price of $37.73, for a total value of $121,415.14. Following the completion of the transaction, the senior vice president now directly owns 28,415 shares of the company’s stock, valued at approximately $1,072,097.95. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Matthew J. Cox sold 3,665 shares of the company’s stock in a transaction on Thursday, December 1st. The stock was sold at an average price of $36.88, for a total transaction of $135,165.20. Following the completion of the transaction, the chief executive officer now directly owns 219,387 shares of the company’s stock, valued at $8,090,992.56. The disclosure for this sale can be found here. 2.36% of the stock is currently owned by corporate insiders.
Matson, Inc is a transportation company in the Marine industry.
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