Credit Suisse AG Purchases 8,010 Shares of Matson, Inc. (NYSE:MATX)
Credit Suisse AG boosted its position in Matson, Inc. (NYSE:MATX) by 16.4% during the first quarter, Holdings Channel reports. The firm owned 56,746 shares of the shipping company’s stock after buying an additional 8,010 shares during the period. Credit Suisse AG’s holdings in Matson were worth $1,802,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of MATX. State Street Corp increased its stake in shares of Matson by 3.6% in the first quarter. State Street Corp now owns 1,063,682 shares of the shipping company’s stock worth $33,783,000 after buying an additional 36,623 shares during the period. Bank of America Corp DE increased its stake in shares of Matson by 6.4% in the first quarter. Bank of America Corp DE now owns 635,551 shares of the shipping company’s stock worth $20,185,000 after buying an additional 38,259 shares during the period. Schwab Charles Investment Management Inc. increased its stake in shares of Matson by 8.9% in 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 period. BlackRock Inc. increased its stake in shares of Matson by 83,732.7% in the first quarter. BlackRock Inc. now owns 5,978,107 shares of the shipping company’s stock worth $189,865,000 after buying an additional 5,970,976 shares during the period. Finally, Renaissance Technologies LLC purchased a new stake in shares of Matson during the first quarter worth approximately $2,017,000. Institutional investors and hedge funds own 83.93% of the company’s stock.
Matson, Inc. (NYSE MATX) traded down 0.14% during midday trading on Friday, reaching $29.35. 91,973 shares of the company were exchanged. Matson, Inc. has a 52-week low of $27.90 and a 52-week high of $43.00. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of 16.86 and a beta of 1.13. The firm’s 50-day moving average price is $29.63 and its 200 day moving average price is $31.60.
Matson (NYSE:MATX) last posted its quarterly earnings results on Monday, July 31st. The shipping company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.11. Matson had a net margin of 3.76% and a return on equity of 16.10%. The business had revenue of $512.50 million during the quarter, compared to analyst estimates of $495.19 million. During the same period in the prior year, the firm earned $0.42 earnings per share. The firm’s revenue was up 9.6% compared to the same quarter last year. Equities analysts predict that Matson, Inc. will post $1.67 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 7th. Investors of record on Thursday, August 3rd will be issued a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, August 1st. This represents a $0.80 dividend on an annualized basis and a yield of 2.72%. This is an increase from Matson’s previous quarterly dividend of $0.19. Matson’s dividend payout ratio is currently 46.24%.
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A number of brokerages have recently commented on MATX. BidaskClub upgraded shares of Matson from a “strong sell” rating to a “sell” rating in a report on Wednesday. Zacks Investment Research upgraded shares of Matson from a “hold” rating to a “buy” rating and set a $33.00 price target for the company in a report on Thursday, August 3rd. Stephens set a $40.00 price target on shares of Matson and gave the stock a “buy” rating in a report on Saturday, June 10th. Finally, TheStreet downgraded shares of Matson from a “b-” rating to a “c+” rating in a report on Monday, May 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company. Matson has a consensus rating of “Hold” and an average price target of $37.00.
In other news, Director Stanley M. Kuriyama acquired 3,300 shares of the company’s stock in a transaction that occurred on Wednesday, May 17th. The shares were purchased at an average price of $29.75 per share, for a total transaction of $98,175.00. Following the completion of the acquisition, the director now owns 32,932 shares of the company’s stock, valued at approximately $979,727. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director W Blake Baird sold 2,578 shares of the stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $29.98, for a total value of $77,288.44. Following the completion of the transaction, the director now owns 15,583 shares in the company, valued at approximately $467,178.34. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.
Matson, Inc is a transportation company in the Marine industry.
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