Hancock Holding Co. Has $680,000 Position in Matson Inc. (MATX)
Hancock Holding Co. increased its position in shares of Matson Inc. (NYSE:MATX) by 4.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,046 shares of the company’s stock after buying an additional 849 shares during the period. Hancock Holding Co.’s holdings in Matson were worth $680,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Acrospire Investment Management LLC acquired a new position in shares of Matson during the first quarter valued at $137,000. Bank of Montreal Can acquired a new position in shares of Matson during the second quarter valued at $127,000. Schonfeld Strategic Advisors LLC acquired a new position in shares of Matson during the first quarter valued at $365,000. Aperio Group LLC increased its position in shares of Matson by 5.9% in the first quarter. Aperio Group LLC now owns 9,713 shares of the company’s stock valued at $390,000 after buying an additional 542 shares during the last quarter. Finally, BlackRock Inc. increased its position in shares of Matson by 13.2% in the first quarter. BlackRock Inc. now owns 12,099 shares of the company’s stock valued at $486,000 after buying an additional 1,411 shares during the last quarter. 81.90% of the stock is owned by institutional investors.
Shares of Matson Inc. (NYSE:MATX) traded up 1.48% during mid-day trading on Tuesday, hitting $39.02. The company had a trading volume of 59,848 shares. The firm has a market capitalization of $1.68 billion, a P/E ratio of 16.38 and a beta of 1.27. The firm has a 50-day moving average price of $37.60 and a 200 day moving average price of $36.02. Matson Inc. has a 12 month low of $30.54 and a 12 month high of $53.18.
Matson (NYSE:MATX) last released its quarterly earnings results on Tuesday, August 2nd. The company reported $0.42 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.42. The firm had revenue of $467.70 million for the quarter, compared to the consensus estimate of $487.35 million. Matson had a return on equity of 25.99% and a net margin of 5.31%. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.56 EPS. On average, equities research analysts forecast that Matson Inc. will post $2.03 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Thursday, August 4th were paid a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend was Tuesday, August 2nd. This is an increase from Matson’s previous quarterly dividend of $0.18. Matson’s dividend payout ratio (DPR) is currently 32.20%.
Separately, Zacks Investment Research raised Matson from a “hold” rating to a “buy” rating and set a $41.00 target price for the company in a research note on Wednesday, July 27th.
In other Matson news, Director W Blake Baird sold 1,000 shares of Matson stock in a transaction that occurred on Friday, September 2nd. The stock was sold at an average price of $41.67, for a total value of $41,670.00. Following the transaction, the director now directly owns 17,745 shares in the company, valued at approximately $739,434.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Vic S. Angoco, Jr. sold 12,162 shares of Matson stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $40.20, for a total value of $488,912.40. Following the completion of the transaction, the insider now owns 48,722 shares in the company, valued at $1,958,624.40. The disclosure for this sale can be found here. Corporate insiders own 2.36% of the company’s stock.
Matson Inc is a transportation company in the Marine industry.
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