Royce & Associates LP Purchases New Stake in Matson Inc. (MATX)
Royce & Associates LP purchased a new position in shares of Matson Inc. (NYSE:MATX) during the second quarter, according to its most recent filing with the SEC. The fund purchased 25,000 shares of the company’s stock, valued at approximately $807,000. Royce & Associates LP owned 0.06% of Matson at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of 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 bought a new stake in shares of Matson during the second quarter worth about $127,000. Schonfeld Strategic Advisors LLC bought a new stake in shares of Matson during the first quarter worth about $365,000. Aperio Group LLC increased its stake in shares of Matson by 5.9% in the first quarter. Aperio Group LLC now owns 9,713 shares of the company’s stock worth $390,000 after buying an additional 542 shares in the last quarter. Finally, BlackRock Inc. increased its stake in shares of Matson by 13.2% in the first quarter. BlackRock Inc. now owns 12,099 shares of the company’s stock worth $486,000 after buying an additional 1,411 shares in the last quarter. Hedge funds and other institutional investors own 81.90% of the company’s stock.
Matson Inc. (NYSE:MATX) traded up 0.78% during trading on Tuesday, hitting $38.75. 221,285 shares of the company were exchanged. The stock’s 50-day moving average is $37.60 and its 200-day moving average is $36.02. Matson Inc. has a 12 month low of $30.54 and a 12 month high of $53.18. The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of 16.27 and a beta of 1.27.
Matson (NYSE:MATX) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $0.42 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.42. Matson had a net margin of 5.31% and a return on equity of 25.99%. The firm had revenue of $467.70 million for the quarter, compared to the consensus estimate of $487.35 million. During the same period in the prior year, the firm posted $0.56 earnings per share. The firm’s quarterly revenue was up 4.5% compared to the same quarter last year. Equities research analysts anticipate that Matson Inc. will post $2.03 earnings per share for the current year.
The business also recently disclosed 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 represents a $0.76 annualized dividend and a yield of 1.98%. This is an increase from Matson’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Tuesday, August 2nd. Matson’s dividend payout ratio (DPR) is presently 32.20%.
Separately, Zacks Investment Research upgraded shares of Matson from a “sell” rating to a “hold” rating in a report on Friday, July 8th.
In other news, Director W Blake Baird sold 1,000 shares of the stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $35.96, for a total value of $35,960.00. Following the completion of the sale, the director now directly owns 18,745 shares in the company, valued at $674,070.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Vic S. Angoco, Jr. sold 11,476 shares of the stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $36.35, for a total transaction of $417,152.60. Following the completion of the sale, the senior vice president now owns 51,621 shares of the company’s stock, valued at $1,876,423.35. The disclosure for this sale can be found here. Company insiders own 2.36% of the company’s stock.
Matson Company Profile
Matson Inc is a transportation company in the Marine industry.
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