J.W. Cole Advisors Inc. Buys Shares of 18,674 Matson, Inc. (NYSE:MATX)

J.W. Cole Advisors Inc. bought a new stake in Matson, Inc. (NYSE:MATXGet Rating) during the 1st quarter, Holdings Channel.com reports. The fund bought 18,674 shares of the shipping company’s stock, valued at approximately $70,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Acadian Asset Management LLC grew its stake in shares of Matson by 535.5% during the first quarter. Acadian Asset Management LLC now owns 471,235 shares of the shipping company’s stock worth $56,827,000 after acquiring an additional 397,078 shares during the last quarter. BlackRock Inc. grew its stake in shares of Matson by 3.2% during the first quarter. BlackRock Inc. now owns 6,655,858 shares of the shipping company’s stock worth $802,830,000 after acquiring an additional 204,399 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Matson by 3.4% during the first quarter. Vanguard Group Inc. now owns 4,655,892 shares of the shipping company’s stock worth $561,594,000 after acquiring an additional 153,723 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Matson by 109.9% during the first quarter. Goldman Sachs Group Inc. now owns 285,393 shares of the shipping company’s stock worth $34,424,000 after acquiring an additional 149,444 shares during the last quarter. Finally, Capital Research Global Investors grew its stake in shares of Matson by 6.2% during the first quarter. Capital Research Global Investors now owns 2,104,874 shares of the shipping company’s stock worth $253,890,000 after acquiring an additional 122,200 shares during the last quarter. Hedge funds and other institutional investors own 83.98% of the company’s stock.

Matson Price Performance

Shares of NYSE MATX opened at $65.39 on Friday. The business’s 50 day moving average price is $79.20 and its 200 day moving average price is $86.72. The firm has a market cap of $2.55 billion, a P/E ratio of 1.94 and a beta of 1.25. Matson, Inc. has a 52 week low of $64.73 and a 52 week high of $125.34. The company has a quick ratio of 1.76, a current ratio of 1.76 and a debt-to-equity ratio of 0.24.

Matson (NYSE:MATXGet Rating) last issued its earnings results on Monday, August 1st. The shipping company reported $9.49 EPS for the quarter, beating analysts’ consensus estimates of $9.38 by $0.11. Matson had a return on equity of 79.22% and a net margin of 29.33%. The firm had revenue of $1.26 billion for the quarter, compared to analyst estimates of $1.35 billion. On average, sell-side analysts expect that Matson, Inc. will post 30.75 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Stifel Nicolaus lowered Matson from a “buy” rating to a “hold” rating and dropped their price target for the stock from $131.00 to $93.00 in a research note on Tuesday, August 2nd. StockNews.com lowered Matson from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 2nd. Finally, Wolfe Research initiated coverage on Matson in a research report on Tuesday, August 16th. They issued an “underperform” rating and a $80.00 target price on the stock.

Insider Buying and Selling at Matson

In other Matson news, CEO Matthew J. Cox sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, July 18th. The stock was sold at an average price of $76.82, for a total value of $384,100.00. Following the completion of the transaction, the chief executive officer now directly owns 257,802 shares of the company’s stock, valued at $19,804,349.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Grace M. Cerocke sold 500 shares of the company’s stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $69.77, for a total transaction of $34,885.00. Following the completion of the transaction, the senior vice president now directly owns 10,313 shares of the company’s stock, valued at approximately $719,538.01. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Matthew J. Cox sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, July 18th. The stock was sold at an average price of $76.82, for a total value of $384,100.00. Following the transaction, the chief executive officer now directly owns 257,802 shares of the company’s stock, valued at $19,804,349.64. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 30,502 shares of company stock valued at $2,392,305. 1.90% of the stock is owned by company insiders.

Matson Company Profile

(Get Rating)

Matson, Inc, together with its subsidiaries, 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.

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Institutional Ownership by Quarter for Matson (NYSE:MATX)

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