Matson, Inc. (NYSE:MATX) Shares Acquired by Rhumbline Advisers

Rhumbline Advisers grew its holdings in Matson, Inc. (NYSE:MATX) by 10.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 127,136 shares of the shipping company’s stock after purchasing an additional 12,518 shares during the period. Rhumbline Advisers owned approximately 0.35% of Matson worth $7,586,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Federated Hermes Inc. lifted its stake in shares of Matson by 39.4% in the 1st quarter. Federated Hermes Inc. now owns 548 shares of the shipping company’s stock valued at $33,000 after purchasing an additional 155 shares during the last quarter. Industrial Alliance Investment Management Inc. acquired a new position in Matson during the 4th quarter worth about $53,000. Quadrant Capital Group LLC lifted its stake in Matson by 104.1% during the 4th quarter. Quadrant Capital Group LLC now owns 900 shares of the shipping company’s stock worth $56,000 after acquiring an additional 459 shares in the last quarter. Gladius Capital Management LP acquired a new position in Matson during the 1st quarter worth about $60,000. Finally, WealthPLAN Partners LLC acquired a new position in Matson during the 1st quarter worth about $60,000. Institutional investors and hedge funds own 85.04% of the company’s stock.

Insider Activity

In other news, EVP Peter T. Heilmann sold 4,917 shares of Matson stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $75.98, for a total value of $373,593.66. Following the transaction, the executive vice president now directly owns 50,311 shares of the company’s stock, valued at approximately $3,822,629.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Peter T. Heilmann sold 4,917 shares of Matson stock in a transaction on Wednesday, June 14th. The shares were sold at an average price of $75.98, for a total value of $373,593.66. Following the transaction, the executive vice president now directly owns 50,311 shares of the company’s stock, valued at approximately $3,822,629.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Matthew J. Cox sold 10,000 shares of Matson stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $88.30, for a total transaction of $883,000.00. Following the completion of the transaction, the chief executive officer now directly owns 221,267 shares in the company, valued at $19,537,876.10. The disclosure for this sale can be found here. Insiders have sold 40,538 shares of company stock valued at $3,453,533 in the last ninety days. 1.90% of the stock is currently owned by company insiders.

Matson Trading Down 5.3 %

MATX opened at $84.36 on Wednesday. Matson, Inc. has a one year low of $56.51 and a one year high of $97.49. The company has a market cap of $2.98 billion, a P/E ratio of 6.92 and a beta of 1.22. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.05 and a current ratio of 1.05. The business’s 50-day simple moving average is $86.76 and its 200-day simple moving average is $73.63.

Matson (NYSE:MATX) last released its quarterly earnings data on Tuesday, August 1st. The shipping company reported $2.26 EPS for the quarter, meeting analysts’ consensus estimates of $2.26. Matson had a return on equity of 20.04% and a net margin of 13.52%. The business had revenue of $773.40 million for the quarter, compared to the consensus estimate of $762.35 million. During the same quarter in the prior year, the business posted $9.49 EPS. The business’s revenue for the quarter was down 38.7% on a year-over-year basis. As a group, equities research analysts expect that Matson, Inc. will post 5.81 EPS for the current fiscal year.

Matson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 7th. Stockholders of record on Thursday, August 3rd will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.52%. This is a boost from Matson’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Wednesday, August 2nd. Matson’s payout ratio is presently 10.50%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on MATX. StockNews.com lowered Matson from a “buy” rating to a “hold” rating in a research note on Wednesday, August 30th. Stephens upped their price target on Matson from $73.00 to $110.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 2nd. Finally, Stifel Nicolaus upped their price target on Matson from $86.00 to $90.00 and gave the stock a “hold” rating in a report on Wednesday, August 2nd.

Matson Profile

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.