10,475 Shares in Matson, Inc. (NYSE:MATX) Purchased by Graham Capital Management L.P.

Graham Capital Management L.P. purchased a new position in shares of Matson, Inc. (NYSE:MATXGet Rating) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 10,475 shares of the shipping company’s stock, valued at approximately $1,263,000.

Several other hedge funds have also recently bought and sold shares of the stock. BlackRock Inc. lifted its position in Matson by 3.2% during the first quarter. BlackRock Inc. now owns 6,655,858 shares of the shipping company’s stock worth $802,830,000 after acquiring an additional 204,399 shares during the last quarter. Vanguard Group Inc. lifted its position in Matson by 3.4% during the first quarter. Vanguard Group Inc. now owns 4,655,892 shares of the shipping company’s stock worth $561,594,000 after acquiring an additional 153,723 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Matson by 0.6% during the first quarter. Dimensional Fund Advisors LP now owns 2,031,111 shares of the shipping company’s stock worth $245,002,000 after acquiring an additional 11,949 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Matson by 5,981.5% during the fourth quarter. JPMorgan Chase & Co. now owns 1,903,751 shares of the shipping company’s stock worth $171,394,000 after acquiring an additional 1,872,447 shares during the last quarter. Finally, State Street Corp lifted its position in Matson by 5.5% during the fourth quarter. State Street Corp now owns 1,477,346 shares of the shipping company’s stock worth $133,005,000 after acquiring an additional 77,288 shares during the last quarter. 83.98% of the stock is currently owned by institutional investors and hedge funds.

Matson Stock Up 3.6 %

NYSE MATX opened at $74.38 on Monday. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.24. Matson, Inc. has a 1-year low of $68.36 and a 1-year high of $125.34. The company has a 50 day moving average of $79.79 and a 200-day moving average of $88.84. The company has a market cap of $2.90 billion, a price-to-earnings ratio of 2.21 and a beta of 1.25.

Matson (NYSE:MATXGet Rating) last announced its quarterly earnings data on Monday, August 1st. The shipping company reported $9.49 EPS for the quarter, beating the consensus estimate of $9.38 by $0.11. Matson had a net margin of 29.33% and a return on equity of 79.22%. The business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $1.35 billion. On average, equities research analysts expect that Matson, Inc. will post 30.75 earnings per share for the current fiscal year.

Matson Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Shareholders of record on Thursday, August 4th were paid a dividend of $0.31 per share. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.67%. The ex-dividend date was Wednesday, August 3rd. This is a boost from Matson’s previous quarterly dividend of $0.30. Matson’s payout ratio is presently 3.69%.

Insiders Place Their Bets

In related news, Director Jenai S. Wall bought 1,250 shares of the firm’s stock in a transaction on Tuesday, August 30th. The shares were purchased at an average price of $75.00 per share, with a total value of $93,750.00. Following the completion of the purchase, the director now owns 12,342 shares in the company, valued at approximately $925,650. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Jenai S. Wall bought 1,250 shares of the firm’s stock in a transaction on Tuesday, August 30th. The shares were purchased at an average price of $75.00 per share, with a total value of $93,750.00. Following the completion of the purchase, the director now owns 12,342 shares in the company, valued at approximately $925,650. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Rusty K. Rolfe sold 5,078 shares of the business’s stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $81.90, for a total transaction of $415,888.20. Following the sale, the executive vice president now directly owns 30,499 shares in the company, valued at approximately $2,497,868.10. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,472 shares of company stock valued at $2,419,800. 1.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MATX. Wolfe Research assumed coverage on shares of Matson in a research report on Tuesday, August 16th. They set an “underperform” rating and a $80.00 price objective for the company. Stifel Nicolaus downgraded shares of Matson from a “buy” rating to a “hold” rating and dropped their price target for the company from $131.00 to $93.00 in a research report on Tuesday, August 2nd. Finally, StockNews.com downgraded shares of Matson from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 2nd.

Matson Profile

(Get Rating)

Matson, Inc, together with its subsidiaries, provides ocean transportation and logistics services. The company's Ocean Transportation segment offers ocean freight transportation services to the domestic non-contiguous economies of Hawaii, Alaska, and Guam, as well as to other island economies in Micronesia.

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Institutional Ownership by Quarter for Matson (NYSE:MATX)

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