Louisiana State Employees Retirement System Holds Position in Matson, Inc. (MATX)
Louisiana State Employees Retirement System maintained its stake in Matson, Inc. (NYSE:MATX) during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 17,600 shares of the shipping company’s stock at the end of the second quarter. Louisiana State Employees Retirement System’s holdings in Matson were worth $529,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of MATX. BlackRock Inc. increased its position in Matson by 83,732.7% in the first quarter. BlackRock Inc. now owns 5,978,107 shares of the shipping company’s stock valued at $189,865,000 after buying an additional 5,970,976 shares during the last quarter. Vanguard Group Inc. increased its position in Matson by 5.4% in the first quarter. Vanguard Group Inc. now owns 3,843,244 shares of the shipping company’s stock valued at $122,062,000 after buying an additional 195,335 shares during the last quarter. Investment Counselors of Maryland LLC increased its position in Matson by 23.3% in the first quarter. Investment Counselors of Maryland LLC now owns 646,140 shares of the shipping company’s stock valued at $20,521,000 after buying an additional 122,170 shares during the last quarter. Morgan Stanley increased its position in Matson by 60.4% in the first quarter. Morgan Stanley now owns 221,054 shares of the shipping company’s stock valued at $7,020,000 after buying an additional 83,270 shares during the last quarter. Finally, Citadel Advisors LLC purchased a new position in Matson during the first quarter valued at $2,265,000. 83.93% of the stock is owned by institutional investors and hedge funds.
Matson, Inc. (NYSE:MATX) traded up 0.03% during trading on Friday, reaching $29.40. The company had a trading volume of 107,295 shares. Matson, Inc. has a 52-week low of $27.90 and a 52-week high of $43.00. The company has a 50-day moving average of $29.63 and a 200-day moving average of $31.60. The firm has a market capitalization of $1.27 billion, a P/E ratio of 16.89 and a beta of 1.13.
Matson (NYSE:MATX) last released its earnings results on Monday, July 31st. The shipping company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.11. The firm had revenue of $512.50 million during the quarter, compared to the consensus estimate of $495.19 million. Matson had a return on equity of 16.10% and a net margin of 3.76%. The firm’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.42 earnings per share. Analysts expect that Matson, Inc. will post $1.67 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 7th. Shareholders of record on Thursday, August 3rd will be given a $0.20 dividend. 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. The ex-dividend date is Tuesday, August 1st. Matson’s dividend payout ratio is 46.24%.
MATX has been the subject of several research analyst reports. Zacks Investment Research raised Matson from a “sell” rating to a “buy” rating and set a $36.00 price objective for the company in a research note on Wednesday, April 26th. BidaskClub downgraded Matson from a “sell” rating to a “strong sell” rating in a research note on Thursday, June 22nd. TheStreet downgraded Matson from a “b-” rating to a “c+” rating in a research note on Monday, May 22nd. Finally, Stephens set a $40.00 price objective on Matson and gave the company a “buy” rating in a research note on Saturday, June 10th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $37.00.
In other news, Director W Blake Baird sold 2,578 shares of the stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $29.98, for a total transaction of $77,288.44. Following the completion of the sale, the director now owns 15,583 shares in the company, valued at approximately $467,178.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Stanley M. Kuriyama acquired 3,300 shares of the business’s stock in a transaction dated Wednesday, May 17th. The shares were bought at an average price of $29.75 per share, with a total value of $98,175.00. Following the transaction, the director now directly owns 32,932 shares in the company, valued at approximately $979,727. The disclosure for this purchase 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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