Matson Inc. (MATX) Rating Reiterated by Stifel Nicolaus
Matson Inc. (NYSE:MATX)‘s stock had its “buy” rating reiterated by investment analysts at Stifel Nicolaus in a report released on Monday.
Separately, Zacks Investment Research raised Matson from a “sell” rating to a “hold” rating in a research report on Friday, July 8th.
Shares of Matson (NYSE:MATX) traded up 2.16% during mid-day trading on Monday, reaching $40.67. The company’s stock had a trading volume of 64,777 shares. The firm has a 50 day moving average price of $38.96 and a 200 day moving average price of $36.18. Matson has a 52-week low of $30.54 and a 52-week high of $53.18. The firm has a market cap of $1.75 billion, a price-to-earnings ratio of 17.07 and a beta of 1.19.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/10/matson-inc-matx-rating-reiterated-by-stifel-nicolaus.html
Matson (NYSE:MATX) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $0.42 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.42. Matson had a return on equity of 25.99% and a net margin of 5.31%. The company earned $467.70 million during the quarter, compared to analysts’ expectations of $487.35 million. During the same period last year, the firm posted $0.56 earnings per share. The business’s revenue was up 4.5% on a year-over-year basis. On average, equities analysts predict that Matson will post $2.03 EPS for the current fiscal year.
In other Matson news, insider Vic S. Angoco, Jr. sold 12,162 shares of the firm’s stock in a transaction on Thursday, September 1st. The stock was 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 transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director W Blake Baird sold 1,000 shares of the firm’s stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $35.96, for a total value of $35,960.00. Following the transaction, the director now owns 18,745 shares in the company, valued at approximately $674,070.20. The disclosure for this sale can be found here. Corporate insiders own 2.36% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the company. M&T Bank Corp raised its position in Matson by 0.3% in the first quarter. M&T Bank Corp now owns 14,009 shares of the company’s stock worth $562,000 after buying an additional 47 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. Arizona State Retirement System raised its position in Matson by 0.9% in the second quarter. Arizona State Retirement System now owns 22,485 shares of the company’s stock worth $726,000 after buying an additional 200 shares during the period. Aperio Group LLC raised its position in Matson by 5.9% in the first quarter. Aperio Group LLC now owns 9,713 shares of the company’s stock worth $390,000 after buying an additional 542 shares during the period. Finally, Capstone Asset Management Co. raised its position in Matson by 5.0% in the second quarter. Capstone Asset Management Co. now owns 14,773 shares of the company’s stock worth $477,000 after buying an additional 700 shares during the period. Hedge funds and other institutional investors own 81.90% of the company’s stock.
Matson Inc is a transportation company in the Marine industry.
Receive News & Ratings for Matson Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Matson Inc. and related companies with MarketBeat.com's FREE daily email newsletter.