Nationwide Fund Advisors Holds Position in Matson Inc. (MATX)
Nationwide Fund Advisors maintained its position in shares of Matson Inc. (NYSE:MATX) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,628 shares of the company’s stock at the end of the third quarter. Nationwide Fund Advisors owned approximately 0.08% of Matson worth $1,381,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the stock. Tower Research Capital LLC TRC boosted its position in shares of Matson by 3,374.0% in the second quarter. Tower Research Capital LLC TRC now owns 3,474 shares of the company’s stock valued at $112,000 after buying an additional 3,374 shares during the period. Bank of Montreal Can acquired a new position in shares of Matson during the second quarter valued at about $127,000. PineBridge Investments L.P. boosted its position in shares of Matson by 3.3% in the second quarter. PineBridge Investments L.P. now owns 5,485 shares of the company’s stock valued at $177,000 after buying an additional 176 shares during the period. Mason Street Advisors LLC acquired a new position in shares of Matson during the second quarter valued at about $273,000. Finally, KCG Holdings Inc. acquired a new position in shares of Matson during the second quarter valued at about $356,000. 84.29% of the stock is owned by institutional investors and hedge funds.
Matson Inc. (NYSE:MATX) traded down 2.08% during midday trading on Tuesday, hitting $38.18. 171,645 shares of the stock traded hands. Matson Inc. has a 52 week low of $28.79 and a 52 week high of $52.58. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of 19.08 and a beta of 1.18. The stock’s 50-day moving average price is $39.15 and its 200 day moving average price is $36.64.
Matson (NYSE:MATX) last announced its quarterly earnings data on Monday, November 7th. The company reported $0.58 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.70 by $0.12. Matson had a net margin of 4.57% and a return on equity of 20.49%. The firm had revenue of $500.40 million for the quarter, compared to analysts’ expectations of $481.78 million. During the same period last year, the company posted $0.94 earnings per share. The business’s revenue for the quarter was down 8.1% compared to the same quarter last year. On average, equities research analysts predict that Matson Inc. will post $1.88 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Thursday, November 10th will be given a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend is Tuesday, November 8th. Matson’s dividend payout ratio (DPR) is 38.00%.
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Several equities analysts have issued reports on MATX shares. Zacks Investment Research upgraded shares of Matson from a “hold” rating to a “buy” rating and set a $46.00 price target for the company in a research report on Wednesday, October 12th. Stifel Nicolaus restated a “buy” rating and issued a $46.00 price target on shares of Matson in a research report on Monday, October 10th.
In other Matson news, Director W Blake Baird sold 1,000 shares of the company’s stock in a transaction dated Friday, September 2nd. The shares were sold at an average price of $41.67, for a total transaction of $41,670.00. Following the transaction, the director now owns 17,745 shares in the company, valued at approximately $739,434.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Vic S. Angoco, Jr. sold 12,162 shares of the company’s stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $40.20, for a total transaction of $488,912.40. Following the transaction, the insider now owns 48,722 shares in the company, valued at approximately $1,958,624.40. The disclosure for this sale can be found here. Corporate insiders own 2.36% of the company’s stock.
Matson Inc is a transportation company in the Marine industry.
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