Hermes Investment Management Ltd. Raises Position in Matson Inc. (MATX)
Hermes Investment Management Ltd. increased its stake in Matson Inc. (NYSE:MATX) by 5.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 527,108 shares of the company’s stock after buying an additional 28,072 shares during the period. Hermes Investment Management Ltd.’s holdings in Matson were worth $17,020,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of MATX. BlackRock Institutional Trust Company N.A. raised its position in shares of Matson by 11.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,163,982 shares of the company’s stock valued at $46,757,000 after buying an additional 118,805 shares in the last quarter. Acrospire Investment Management LLC bought a new position in shares of Matson during the first quarter valued at approximately $137,000. Algert Global LLC raised its position in shares of Matson by 226.4% in the first quarter. Algert Global LLC now owns 19,488 shares of the company’s stock valued at $783,000 after buying an additional 13,518 shares in the last quarter. BlackRock Group LTD raised its position in shares of Matson by 9.4% in the first quarter. BlackRock Group LTD now owns 54,145 shares of the company’s stock valued at $2,175,000 after buying an additional 4,667 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Matson by 4.4% in the first quarter. Geode Capital Management LLC now owns 383,981 shares of the company’s stock valued at $15,424,000 after buying an additional 16,212 shares in the last quarter. Hedge funds and other institutional investors own 81.90% of the company’s stock.
Shares of Matson Inc. (NYSE:MATX) traded down 0.24% during midday trading on Friday, reaching $37.88. 457,577 shares of the company traded hands. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of 15.90 and a beta of 1.27. Matson Inc. has a 12 month low of $30.54 and a 12 month high of $53.18. The company’s 50 day moving average is $37.45 and its 200-day moving average is $36.06.
Matson (NYSE:MATX) last posted its earnings results on Tuesday, August 2nd. The company reported $0.42 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.42. Matson had a net margin of 5.31% and a return on equity of 25.99%. The firm earned $467.70 million during the quarter, compared to the consensus estimate of $487.35 million. During the same period last year, the firm posted $0.56 EPS. The firm’s revenue for the quarter was up 4.5% on a year-over-year basis. Equities research analysts forecast that Matson Inc. will post $2.03 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Thursday, August 4th were issued a dividend of $0.19 per share. This is an increase from Matson’s previous quarterly dividend of $0.18. This represents a $0.76 annualized dividend and a yield of 2.01%. The ex-dividend date was Tuesday, August 2nd. Matson’s dividend payout ratio (DPR) is 32.20%.
Separately, Zacks Investment Research lowered shares of Matson from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 4th.
In other Matson news, Director W Blake Baird sold 1,000 shares of the firm’s stock in a transaction dated 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 directly owns 17,745 shares in the company, valued at approximately $739,434.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Vic S. Angoco, Jr. sold 12,162 shares of the firm’s stock in a transaction dated 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 $1,958,624.40. The disclosure for this sale can be found here. Company insiders own 2.36% of the company’s stock.
Matson Inc is a transportation company in the Marine industry.
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