UBS Asset Management Americas Inc. raised its position in Matson Inc. (NYSE:MATX) by 57.6% during the third quarter, Holdings Channel reports. The firm owned 18,600 shares of the company’s stock after buying an additional 6,800 shares during the period. UBS Asset Management Americas Inc.’s holdings in Matson were worth $742,000 as of its most recent filing with the SEC.
Several other institutional investors have also added to or reduced their stakes in MATX. Tower Research Capital LLC TRC raised its position in Matson by 3,374.0% in the second quarter. Tower Research Capital LLC TRC now owns 3,474 shares of the company’s stock worth $112,000 after buying an additional 3,374 shares during the period. Bank of Montreal Can raised its position in Matson by 2.1% in the third quarter. Bank of Montreal Can now owns 3,985 shares of the company’s stock worth $159,000 after buying an additional 82 shares during the period. PineBridge Investments L.P. raised its position in Matson by 3.3% in the second quarter. PineBridge Investments L.P. now owns 5,485 shares of the company’s stock worth $177,000 after buying an additional 176 shares during the period. North Point Portfolio Managers Corp OH acquired a new position in Matson during the third quarter worth $243,000. Finally, Mason Street Advisors LLC acquired a new position in Matson during the second quarter worth $273,000. 82.60% of the stock is owned by hedge funds and other institutional investors.
Shares of Matson Inc. (NYSE:MATX) traded up 0.87% during trading on Thursday, reaching $36.02. The company had a trading volume of 241,526 shares. The stock’s 50-day moving average price is $36.76 and its 200-day moving average price is $37.68. The company has a market capitalization of $1.54 billion, a PE ratio of 18.00 and a beta of 1.10. Matson Inc. has a 52 week low of $28.79 and a 52 week high of $43.24.
Matson (NYSE:MATX) last released its quarterly earnings data on Monday, November 7th. The company reported $0.58 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.70 by $0.12. The company had revenue of $500.40 million for the quarter, compared to analysts’ expectations of $481.78 million. Matson had a net margin of 4.57% and a return on equity of 20.49%. The business’s quarterly revenue was down 8.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.94 EPS. On average, equities analysts expect that Matson Inc. will post $1.87 EPS for the current fiscal year.
A number of equities analysts have recently weighed in on MATX shares. Zacks Investment Research raised Matson from a “hold” rating to a “buy” rating and set a $46.00 price objective for the company in a research note on Wednesday, October 12th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $46.00 price objective on shares of Matson in a research note on Monday, October 10th. Finally, Seaport Global Securities reaffirmed a “neutral” rating on shares of Matson in a research note on Wednesday, December 21st.
In other Matson news, CEO Matthew J. Cox sold 3,665 shares of Matson stock in a transaction dated Thursday, December 1st. The stock was sold at an average price of $36.88, for a total transaction of $135,165.20. Following the completion of the transaction, the chief executive officer now owns 219,387 shares in the company, valued at approximately $8,090,992.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Peter T. Heilmann sold 3,218 shares of Matson stock in a transaction dated Monday, December 5th. The shares were sold at an average price of $37.73, for a total value of $121,415.14. Following the transaction, the senior vice president now owns 28,415 shares of the company’s stock, valued at approximately $1,072,097.95. The disclosure for this sale can be found here. Insiders have sold a total of 9,419 shares of company stock valued at $352,641 in the last quarter. Company insiders own 2.36% of the company’s stock.
Matson Inc is a transportation company in the Marine industry.
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