Here is the rundown on market activity for Matson, Inc. (NYSE:MATX). Stanley M. Kuriyama, Director reported the purchase of 3,300 shares. The shares were purchased at an average price of $29.75. The Director now owns $979,727 of the stock according to the SEC filing. W. Blake Baird, Director sold $87,057 worth of shares at an average price of $32.63 on Mon the 8th. That brings Baird’s holdings to $592,593 per an SEC filing yesterday.
Chairman Matthew J. Cox disclosed the sale of 20,000 shares of (MATX). The shares were sold on May 8th for an average price of $32.16. Cox now owns $7,773,715 of the stock per the Form 4 SEC filing.
These funds have also shifted positions in (MATX). As of quarter end Texas Permanent School Fund had acquired 260 shares growing its position 0.8%. The value of the investment in Matson, Inc. went from $992,000 to $946,000 a change of $46,000 since the last quarter. Ngam Advisors, L.p. expanded its stake by buying 1,717 shares an increase of 2.5% in the quarter. Ngam Advisors, L.p. owns 71,050 shares valued at $2,134,000. The total value of its holdings decreased 3.1%.
Parkside Financial Bank & Trust added to its investment by buying 1 shares an increase of 3.2%. Parkside Financial Bank & Trust claims 32 shares worth $1,000. The value of the position overall is down by 0.0%. As of the end of the quarter Hermes Investment Management Ltd had sold a total of 48,835 shares trimming its holdings by 6.0%. The value in dollars decreased from $25,797,000 to $22,933,000 decreasing 11.1% quarter to quarter.
On November 8 the company was set at “Hold” according to a Stifel Nicolaus report down from the previous “Buy” rating. February 24 investment analysts at Stifel Nicolaus made no change to the stock rating of “Buy” but lowered the price target to $45.00 from $51.00.
On February 25 Stifel Nicolaus made no change to the company rating of “Buy” but raised the price expectation from $39.00 to $43.00. November 12 investment analysts at Stifel Nicolaus kept the stock rating at “Buy” and raised the price target to $39.00 from $36.00.
November 7 investment analysts at Oppenheimer held the company rating at “Outperform” and raised the price expectation to $33.00 from $31.00. Equity analyst FBR Capital downgraded the stock and lowered the price target on November 3 changing the price objective from $32.00 to $30.00 and changing the rating from “Outperform” to “Market Perform”.
The company is up from yesterday’s close of $28.33. Matson, Inc. declared a dividend that will be paid on Thu Sep 7, 2017. The dividend will be $0.200 per share for the quarter or $0.80 on an annualized basis. The dividend yield will be $2.65. The ex-dividend date will be Tuesday May 9th, 2017.
The stock last traded at $28.40 which is a tad under $29.76, the 50 day moving average and which is just under the 200 day moving average of $32.03. The 50 day moving average was down by -4.38% and the 200 day average moved down $-3.57.
The most current P/E ratio is 17.79 and the market value is 1.23B. In the latest earnings report the EPS was $1.60 and is projected to be $1.62 for the current year with 43,116,000 shares currently outstanding. Next quarter’s EPS is estimated at $0.57 and the next full year EPS is anticipated to be $1.87.
Matson, Inc. (Matson), launched on January 25, 2012, is a holding company. The Company provides ocean transportation and logistics services. The Company operates through two segments: Ocean Transportation and Logistics. Its Ocean Transportation business is conducted through its subsidiary, Matson Navigation Company, Inc. (MatNav). MatNav is an asset-based business that provides ocean freight transportation services to the domestic economies of Hawaii, Alaska and Guam, and to other island economies in Micronesia and in the South Pacific. Matson’s fleet consists of approximately 20 owned and over three chartered vessels, including containerships, combination container/roll-on/roll-off ships, roll-on/roll-off barge and barges equipped with cranes. Matson’s Logistics business is conducted through Matson Logistics, Inc. (Matson Logistics or Logistics), a subsidiary of MatNav. Matson Logistics is an asset-light business that provides multimodal transportation services, including domestic and international rail intermodal service (Intermodal); long-haul and regional highway brokerage, specialized hauling, flat-bed and project services, less-than-truckload services, expedited freight services (collectively Highway); supply chain management, and warehousing and distribution services..
