Westfield Capital Management Co. LP Increases Position in Matson, Inc. (MATX)

Westfield Capital Management Co. LP lifted its stake in shares of Matson, Inc. (NYSE:MATX) by 3.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 456,598 shares of the shipping company’s stock after purchasing an additional 15,098 shares during the quarter. Westfield Capital Management Co. LP owned 1.06% of Matson worth $13,716,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently made changes to their positions in MATX. Bank of Montreal Can grew its holdings in shares of Matson by 10.9% during the 1st quarter. Bank of Montreal Can now owns 4,419 shares of the shipping company’s stock valued at $140,000 after purchasing an additional 434 shares during the last quarter. Great West Life Assurance Co. Can grew its holdings in shares of Matson by 8.6% during the 1st quarter. Great West Life Assurance Co. Can now owns 56,799 shares of the shipping company’s stock valued at $1,801,000 after purchasing an additional 4,503 shares during the last quarter. First Trust Advisors LP grew its holdings in shares of Matson by 66.0% during the 1st quarter. First Trust Advisors LP now owns 52,729 shares of the shipping company’s stock valued at $1,675,000 after purchasing an additional 20,959 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Matson by 5.1% during the 1st quarter. Bank of New York Mellon Corp now owns 686,361 shares of the shipping company’s stock valued at $21,799,000 after purchasing an additional 33,523 shares during the last quarter. Finally, UBS Asset Management Americas Inc. boosted its position in Matson by 6.8% during the 1st quarter. UBS Asset Management Americas Inc. now owns 13,995 shares of the shipping company’s stock worth $444,000 after buying an additional 890 shares during the period. 84.13% of the stock is currently owned by institutional investors.

In other news, Director W Blake Baird sold 2,578 shares of the firm’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $29.98, for a total value of $77,288.44. Following the transaction, the director now owns 15,583 shares in the company, valued at $467,178.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey N. Watanabe bought 4,100 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The stock was purchased at an average price of $24.07 per share, for a total transaction of $98,687.00. The disclosure for this purchase can be found here. Insiders have acquired 12,200 shares of company stock worth $292,734 over the last quarter. Company insiders own 2.60% of the company’s stock.

Several research firms recently commented on MATX. BidaskClub upgraded shares of Matson from a “strong sell” rating to a “sell” rating in a research report on Thursday, August 31st. Stifel Nicolaus upgraded shares of Matson from a “hold” rating to a “buy” rating and set a $30.00 target price on the stock in a research report on Friday, August 18th. Wells Fargo & Company downgraded shares of Matson from a “market perform” rating to an “underperform” rating and set a $22.00 target price on the stock. in a research report on Friday, August 18th. Stephens downgraded shares of Matson from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $38.00 to $23.00 in a research report on Friday, August 18th. Finally, Zacks Investment Research upgraded shares of Matson from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a research report on Thursday, August 3rd. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $27.00.

COPYRIGHT VIOLATION WARNING: “Westfield Capital Management Co. LP Increases Position in Matson, Inc. (MATX)” was originally posted by Chaffey Breeze and is the property of of Chaffey Breeze. If you are reading this article on another domain, it was illegally copied and republished in violation of United States and international copyright law. The legal version of this article can be accessed at https://www.chaffeybreeze.com/2017/09/19/westfield-capital-management-co-lp-increases-position-in-matson-inc-matx.html.

Matson, Inc. (NYSE:MATX) traded up 0.19% during midday trading on Tuesday, reaching $25.96. 4,076 shares of the company traded hands. Matson, Inc. has a one year low of $21.63 and a one year high of $42.00. The stock’s 50 day moving average is $26.99 and its 200 day moving average is $29.79. The company has a market capitalization of $1.12 billion, a price-to-earnings ratio of 14.91 and a beta of 1.17.

Matson (NYSE:MATX) last issued its quarterly earnings results on Monday, July 31st. The shipping company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.11. Matson had a net margin of 3.76% and a return on equity of 16.10%. The business had revenue of $512.50 million for the quarter, compared to analysts’ expectations of $495.19 million. During the same period last year, the business earned $0.42 earnings per share. The business’s quarterly revenue was up 9.6% on a year-over-year basis. On average, equities analysts anticipate that Matson, Inc. will post $1.68 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 7th. Shareholders of record on Thursday, August 3rd were given a dividend of $0.20 per share. This is a boost from Matson’s previous quarterly dividend of $0.19. This represents a $0.80 dividend on an annualized basis and a yield of 3.09%. The ex-dividend date was Tuesday, August 1st. Matson’s dividend payout ratio (DPR) is presently 46.24%.

Matson Company Profile

Matson, Inc, through its subsidiaries, operates as an ocean cargo carrier. The company operates in two segments, Ocean Transportation and Logistics. The Ocean Transportation segment offers ocean transportation services to the domestic economies of Hawaii, Alaska, and Guam, as well as to other island economies in Micronesia and in the South Pacific.

Want to see what other hedge funds are holding MATX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Matson, Inc. (NYSE:MATX).

Institutional Ownership by Quarter for Matson (NYSE:MATX)

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.

Latest News

Leave a Reply