NGAM Advisors L.P. raised its stake in shares of Matson, Inc. (NYSE:MATX) by 2.5% during the second quarter, Holdings Channel reports. The firm owned 71,050 shares of the shipping company’s stock after buying an additional 1,717 shares during the period. NGAM Advisors L.P.’s holdings in Matson were worth $2,134,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in MATX. Ameritas Investment Partners Inc. acquired a new position in Matson during the first quarter valued at $119,000. UBS Group AG boosted its position in Matson by 14.0% in the first quarter. UBS Group AG now owns 4,019 shares of the shipping company’s stock valued at $127,000 after buying an additional 495 shares during the period. Bank of Montreal Can boosted its position in Matson by 10.9% in the first quarter. Bank of Montreal Can now owns 4,419 shares of the shipping company’s stock valued at $140,000 after buying an additional 434 shares during the period. State of Alaska Department of Revenue boosted its position in Matson by 2.4% in the first quarter. State of Alaska Department of Revenue now owns 4,760 shares of the shipping company’s stock valued at $151,000 after buying an additional 110 shares during the period. Finally, Princeton Alpha Management LP acquired a new position in Matson during the first quarter valued at $273,000. Institutional investors and hedge funds own 83.93% of the company’s stock.

Shares of Matson, Inc. (NYSE MATX) opened at 29.28 on Friday. The company has a market cap of $1.26 billion, a PE ratio of 16.82 and a beta of 1.13. Matson, Inc. has a 1-year low of $27.90 and a 1-year high of $43.00. The firm has a 50-day moving average price of $29.65 and a 200 day moving average price of $31.55.

Matson (NYSE:MATX) last posted its earnings results on Monday, July 31st. The shipping company reported $0.55 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.11. Matson had a return on equity of 16.10% and a net margin of 3.76%. The company had revenue of $512.50 million for the quarter, compared to analyst estimates of $495.19 million. During the same quarter last year, the company earned $0.42 earnings per share. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. On average, equities analysts anticipate that Matson, Inc. will post $1.67 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 7th. Stockholders of record on Thursday, August 3rd will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date is Tuesday, August 1st. This is a positive change from Matson’s previous quarterly dividend of $0.19. Matson’s dividend payout ratio (DPR) is currently 46.24%.

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Several research firms have recently weighed in on MATX. TheStreet cut Matson from a “b-” rating to a “c+” rating in a report on Monday, May 22nd. Zacks Investment Research cut Matson from a “buy” rating to a “hold” rating in a report on Wednesday, July 5th. Stephens set a $40.00 price objective on Matson and gave the company a “buy” rating in a report on Saturday, June 10th. Finally, BidaskClub cut Matson from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $37.00.

In other news, Director W Blake Baird sold 2,578 shares of the firm’s 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 transaction, the director now owns 15,583 shares in the company, valued at $467,178.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stanley M. Kuriyama bought 3,300 shares of the company’s stock in a transaction dated Wednesday, May 17th. The stock was bought at an average price of $29.75 per share, for a total transaction of $98,175.00. Following the acquisition, the director now directly owns 32,932 shares of the company’s stock, valued at $979,727. The disclosure for this purchase can be found here. 2.60% of the stock is owned by company insiders.

Matson, Inc is a transportation company in the Marine industry.

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Institutional Ownership by Quarter for Matson (NYSE:MATX)

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