Strs Ohio Grows Holdings in Matson, Inc. $MATX

Strs Ohio boosted its position in Matson, Inc. (NYSE:MATX) by 222.2% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 8,700 shares of the shipping company’s stock after purchasing an additional 6,000 shares during the period. Strs Ohio’s holdings in Matson were worth $1,426,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Matson during the 4th quarter worth approximately $17,276,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in shares of Matson in the fourth quarter valued at approximately $2,017,000. Tudor Investment Corp ET AL increased 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 valued at $5,703,000 after acquiring an additional 55,950 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings 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 acquiring an additional 39,370 shares during the period. Finally, Lighthouse Investment Partners LLC bought a new stake in Matson during the third quarter worth $8,241,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Matson Stock Performance

NYSE:MATX opened at $198.60 on Wednesday. The company has a market capitalization of $6.01 billion, a P/E ratio of 14.59 and a beta of 1.28. The business has a fifty day simple moving average of $188.71 and a two-hundred day simple moving average of $166.74. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.82 and a quick ratio of 0.82. Matson, Inc. has a 1 year low of $86.97 and a 1 year high of $207.88.

Matson (NYSE:MATX) last issued its quarterly earnings results on Monday, May 4th. The shipping company reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.65 by $0.20. Matson had a return on equity of 15.90% and a net margin of 12.92%.The firm had revenue of $757.80 million for the quarter, compared to analysts’ expectations of $777.55 million. During the same quarter in the prior year, the firm earned $2.18 EPS. The business’s revenue for the quarter was down 3.1% compared to the same quarter last year. On average, analysts expect that Matson, Inc. will post 13.96 earnings per share for the current year.

Matson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 6th will be given a dividend of $0.38 per share. This is a boost from Matson’s previous quarterly dividend of $0.36. This represents a $1.52 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Thursday, August 6th. Matson’s dividend payout ratio (DPR) is 10.58%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MATX. Wall Street Zen lowered Matson from a “buy” rating to a “hold” rating in a research report on Sunday, March 15th. Zacks Research raised shares of Matson to a “hold” rating in a report on Wednesday, April 29th. Weiss Ratings restated a “hold (c)” rating on shares of Matson in a research report on Friday, May 29th. Finally, JPMorgan Chase & Co. assumed coverage on shares of Matson in a report on Monday, April 27th. They set an “overweight” rating and a $230.00 price objective for the company. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $181.25.

Insider Transactions at Matson

In other news, SVP Laura L. Rascon sold 2,800 shares of the business’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $188.53, for a total value of $527,884.00. Following the sale, the senior vice president owned 15,656 shares of the company’s stock, valued at $2,951,625.68. The trade was a 15.17% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Kuuhaku T. Park sold 2,500 shares of the stock in a transaction on 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 approximately $1,979,206.96. This represents a 18.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 23,963 shares of company stock valued at $4,349,268. 2.51% of the stock is currently owned by insiders.

Matson 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.