London Co. of Virginia Has $40.05 Million Stock Position in Matson, Inc. $MATX

London Co. of Virginia reduced its position in Matson, Inc. (NYSE:MATX) by 3.1% during the 1st quarter, HoldingsChannel.com reports. The fund owned 244,282 shares of the shipping company’s stock after selling 7,832 shares during the quarter. London Co. of Virginia’s holdings in Matson were worth $40,048,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its position in shares of Matson by 57.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 258 shares of the shipping company’s stock valued at $32,000 after acquiring an additional 94 shares in the last quarter. Bessemer Group Inc. raised its stake in Matson by 0.3% during the 1st quarter. Bessemer Group Inc. now owns 30,624 shares of the shipping company’s stock valued at $5,021,000 after purchasing an additional 104 shares during the period. Linden Thomas Advisory Services LLC raised its stake in Matson by 0.4% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 29,456 shares of the shipping company’s stock valued at $3,639,000 after purchasing an additional 109 shares during the period. Cetera Investment Advisers lifted its holdings in shares of Matson by 4.4% in the fourth quarter. Cetera Investment Advisers now owns 3,880 shares of the shipping company’s stock valued at $479,000 after purchasing an additional 164 shares in the last quarter. Finally, Amundi lifted its holdings in shares of Matson by 3.1% in the third quarter. Amundi now owns 5,637 shares of the shipping company’s stock valued at $557,000 after purchasing an additional 168 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Matson Stock Down 1.3%

Matson stock opened at $210.84 on Friday. The firm has a market cap of $6.38 billion, a PE ratio of 15.49 and a beta of 1.28. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.82 and a current ratio of 0.82. The firm’s 50 day moving average price is $197.21 and its two-hundred day moving average price is $174.45. Matson, Inc. has a twelve month low of $86.97 and a twelve month high of $230.74.

Matson (NYSE:MATX) last released its earnings results on Monday, May 4th. The shipping company reported $1.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.65 by $0.20. The company had revenue of $757.80 million during the quarter, compared to the consensus estimate of $777.55 million. Matson had a net margin of 12.92% and a return on equity of 15.90%. The company’s revenue was down 3.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.18 EPS. On average, research analysts predict that Matson, Inc. will post 14.16 EPS for the current fiscal year.

Matson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Thursday, August 6th will be issued a dividend of $0.38 per share. This is a positive change from Matson’s previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Thursday, August 6th. Matson’s dividend payout ratio is 10.58%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Matson in a report on Friday, May 29th. JPMorgan Chase & Co. began coverage on Matson in a research note on Monday, April 27th. They issued an “overweight” rating and a $230.00 price objective for the company. Finally, Zacks Research upgraded Matson to a “hold” rating in a research report on Wednesday, April 29th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Matson presently has a consensus rating of “Moderate Buy” and a consensus target price of $181.25.

Insider Buying and Selling at Matson

In related news, SVP Grace M. Cerocke sold 1,200 shares of Matson stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $183.57, for a total transaction of $220,284.00. Following the completion of the sale, the senior vice president owned 17,986 shares of the company’s stock, valued at approximately $3,301,690.02. This trade represents a 6.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Peter T. Heilmann sold 7,173 shares of the business’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $180.19, for a total value of $1,292,502.87. Following the completion of the transaction, the executive vice president owned 25,506 shares in the company, valued at $4,595,926.14. This trade represents a 21.95% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 23,963 shares of company stock valued at $4,349,268 in the last quarter. Corporate insiders own 2.51% of the company’s stock.

About Matson

Matson, Inc (NYSE: MATX) is a U.S.-based provider of ocean transportation and supply chain logistics services with a focus on Pacific trade lanes. The company operates a fleet of container ships that regularly service Hawaii, Alaska, Guam, Micronesia and other Pacific islands, as well as mainland U.S. ports. Matson’s ocean transportation segment offers scheduled liner services, expedited shipping options and specialized project cargo handling for industries ranging from retail to heavy machinery.

In addition to its core liner operations, Matson offers ocean transportation services between Asia and the U.S.