Matson, Inc. $MATX Shares Bought by Edgestream Partners L.P.

Edgestream Partners L.P. raised its position in shares of Matson, Inc. (NYSE:MATX) by 24.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 45,745 shares of the shipping company’s stock after buying an additional 8,860 shares during the period. Edgestream Partners L.P. owned about 0.15% of Matson worth $7,499,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of MATX. Norges Bank purchased a new position in Matson during the 4th quarter valued at about $17,276,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in Matson during the fourth quarter worth about $2,017,000. SG Americas Securities LLC increased its stake in Matson by 887.1% during the first quarter. SG Americas Securities LLC now owns 57,586 shares of the shipping company’s stock worth $9,441,000 after purchasing an additional 51,752 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Matson by 97.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 79,767 shares of the shipping company’s stock worth $9,868,000 after purchasing an additional 39,370 shares during the period. Finally, Tudor Investment Corp ET AL lifted its position in shares of Matson by 2,944.7% during the third quarter. Tudor Investment Corp ET AL now owns 57,850 shares of the shipping company’s stock worth $5,703,000 after purchasing an additional 55,950 shares in the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently commented on MATX shares. Weiss Ratings reissued a “hold (c)” rating on shares of Matson in a research note on Friday, May 29th. JPMorgan Chase & Co. initiated coverage on shares of Matson in a research note on Monday, April 27th. They set an “overweight” rating and a $230.00 target price on the stock. Finally, Zacks Research upgraded shares of Matson to a “hold” rating in a report on Wednesday, April 29th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $181.25.

Insider Activity

In other Matson news, EVP Peter T. Heilmann sold 7,173 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $180.19, for a total transaction of $1,292,502.87. Following the transaction, the executive vice president owned 25,506 shares of the company’s stock, valued at approximately $4,595,926.14. This trade represents a 21.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Kuuhaku T. Park sold 2,500 shares of Matson stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $180.19, for a total value of $450,475.00. Following the sale, the senior vice president owned 10,984 shares in the company, valued at $1,979,206.96. This trade represents a 18.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 23,963 shares of company stock worth $4,349,268 over the last three months. Company insiders own 2.51% of the company’s stock.

Matson Stock Performance

Shares of MATX opened at $201.24 on Thursday. The stock has a 50 day moving average price of $198.34 and a 200 day moving average price of $176.33. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $6.09 billion, a price-to-earnings ratio of 14.79 and a beta of 1.28. Matson, Inc. has a 52-week low of $86.97 and a 52-week high of $230.74.

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

Matson Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Thursday, August 6th will be given a $0.38 dividend. This is a positive change from Matson’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Thursday, August 6th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.8%. Matson’s payout ratio is 10.58%.

Matson Company Profile

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.