River & Mercantile Asset Management LLP Acquires Shares of 2,100 Matson Inc (NYSE:MATX)

River & Mercantile Asset Management LLP acquired a new stake in shares of Matson Inc (NYSE:MATX) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,100 shares of the shipping company’s stock, valued at approximately $82,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. BlackRock Inc. increased its stake in shares of Matson by 0.7% in the second quarter. BlackRock Inc. now owns 6,454,647 shares of the shipping company’s stock valued at $250,763,000 after buying an additional 44,010 shares in the last quarter. Susquehanna International Group LLP increased its stake in shares of Matson by 120.4% in the second quarter. Susquehanna International Group LLP now owns 19,178 shares of the shipping company’s stock valued at $745,000 after buying an additional 10,478 shares in the last quarter. Nuveen Asset Management LLC acquired a new stake in shares of Matson in the second quarter valued at $7,026,000. Price T Rowe Associates Inc. MD increased its stake in shares of Matson by 8.9% in the second quarter. Price T Rowe Associates Inc. MD now owns 3,788,298 shares of the shipping company’s stock valued at $147,175,000 after buying an additional 311,148 shares in the last quarter. Finally, UBS Asset Management Americas Inc. increased its stake in shares of Matson by 140.5% in the second quarter. UBS Asset Management Americas Inc. now owns 21,517 shares of the shipping company’s stock valued at $836,000 after buying an additional 12,572 shares in the last quarter. 87.39% of the stock is owned by institutional investors.

A number of analysts have recently weighed in on the company. ValuEngine upgraded Matson from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. Zacks Investment Research lowered Matson from a “hold” rating to a “sell” rating in a research note on Saturday, August 10th.

In related news, SVP Rusty K. Rolfe sold 3,047 shares of Matson stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $40.67, for a total value of $123,921.49. Following the completion of the sale, the senior vice president now directly owns 56,304 shares in the company, valued at $2,289,883.68. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Vic S. Angoco, Jr. sold 16,100 shares of Matson stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $35.14, for a total value of $565,754.00. Following the completion of the sale, the insider now owns 43,926 shares of the company’s stock, valued at $1,543,559.64. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.

Shares of NYSE:MATX traded up $1.12 during midday trading on Friday, reaching $36.14. The company’s stock had a trading volume of 174,637 shares, compared to its average volume of 156,502. Matson Inc has a fifty-two week low of $30.60 and a fifty-two week high of $42.15. The company has a market capitalization of $1.55 billion, a P/E ratio of 14.28, a P/E/G ratio of 3.55 and a beta of 1.61. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.68 and a quick ratio of 0.68. The business’s fifty day simple moving average is $37.16 and its 200-day simple moving average is $37.67.

Matson (NYSE:MATX) last announced its earnings results on Wednesday, August 7th. The shipping company reported $0.43 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.63 by ($0.20). The business had revenue of $557.90 million during the quarter, compared to analyst estimates of $577.55 million. Matson had a net margin of 4.15% and a return on equity of 12.30%. The business’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter last year, the business posted $0.76 earnings per share. On average, analysts forecast that Matson Inc will post 2.01 earnings per share for the current fiscal year.

Matson Profile

Matson, Inc provides ocean transportation and logistics services. The company's Ocean Transportation segment offers ocean freight transportation services to the domestic non-contiguous economies of Hawaii, Alaska, and Guam, as well as to other island economies in Micronesia. It primarily transports dry containers of mixed commodities, refrigerated commodities, packaged foods and beverages, building materials, automobiles, and household goods; livestock; seafood; general sustenance cargo; and garments, footwear, and other retail merchandise.

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Institutional Ownership by Quarter for Matson (NYSE:MATX)

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