54,501 Shares in Matson, Inc. $MATX Acquired by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. purchased a new position in Matson, Inc. (NYSE:MATX) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 54,501 shares of the shipping company’s stock, valued at approximately $11,971,000. Robeco Institutional Asset Management B.V. owned 0.18% of Matson at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of MATX. Genesee Capital Advisors LLC bought a new stake in shares of Matson during the 3rd quarter valued at $282,000. Retirement Planning Group LLC increased its stake in shares of Matson by 12,239.4% in the 3rd quarter. Retirement Planning Group LLC now owns 233,584 shares of the shipping company’s stock worth $51,304,000 after purchasing an additional 231,691 shares in the last quarter. Gemmer Asset Management LLC purchased a new stake in shares of Matson in the 3rd quarter worth $225,000. USA Financial Formulas bought a new position in Matson in the 3rd quarter worth $50,000. Finally, Ellsworth Advisors LLC raised its holdings in Matson by 21.2% in the 3rd quarter. Ellsworth Advisors LLC now owns 1,967 shares of the shipping company’s stock worth $432,000 after purchasing an additional 344 shares during the period. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Insider Activity at Matson

In other Matson news, EVP Peter Heilmann sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $220.15, for a total transaction of $1,100,750.00. Following the sale, the executive vice president directly owned 20,506 shares in the company, valued at $4,514,395.90. This represents a 19.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Leonard Isotoff sold 1,250 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $208.30, for a total value of $260,375.00. Following the sale, the senior vice president owned 6,527 shares in the company, valued at approximately $1,359,574.10. This trade represents a 16.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 12,462 shares of company stock valued at $2,695,832 over the last ninety days. 2.51% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Zacks Research downgraded Matson from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. JPMorgan Chase & Co. upped their price target on Matson from $270.00 to $310.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 13th. Wall Street Zen cut Matson from a “buy” rating to a “hold” rating in a research report on Saturday, August 22nd. Stephens boosted their price objective on Matson from $240.00 to $260.00 and gave the company an “overweight” rating in a research note on Tuesday, August 4th. Finally, Freedom Broker assumed coverage on shares of Matson in a report on Wednesday, September 30th. They issued a “buy” rating and a $260.00 target price for the company. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $249.25.

Matson Stock Up 0.4%

Shares of MATX stock opened at $228.35 on Friday. The company’s fifty day simple moving average is $227.08 and its two-hundred day simple moving average is $204.52. Matson, Inc. has a 52 week low of $93.12 and a 52 week high of $240.87. The stock has a market cap of $6.83 billion, a P/E ratio of 15.26 and a beta of 1.30. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.11.

Matson (NYSE:MATX) last issued its quarterly earnings data on Monday, August 3rd. The shipping company reported $4.27 earnings per share for the quarter, beating analysts’ consensus estimates of $3.79 by $0.48. Matson had a return on equity of 16.94% and a net margin of 13.41%. The firm had revenue of $969.40 million during the quarter, compared to analyst estimates of $893.91 million. During the same quarter last year, the business posted $2.92 earnings per share. The business’s quarterly revenue was up 16.7% compared to the same quarter last year. Analysts predict that Matson, Inc. will post 16.01 EPS for the current fiscal year.

Matson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 3rd. Shareholders of record on Thursday, November 5th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Thursday, November 5th. Matson’s payout ratio is presently 10.16%.

Matson Profile

Matson, Inc is a transportation and logistics company that provides ocean shipping and supply chain services. Through its Matson Navigation subsidiary, the company transports containerized and bulk cargo, automobiles and other goods between the U.S. mainland and Hawaii, Alaska, Guam, Micronesia and selected South Pacific destinations. Matson also operates services linking the U.S. West Coast with China, Japan and South Korea.

The company serves a broad range of customers, including retailers, manufacturers, wholesalers, government agencies and individual consumers.