Cwm LLC Increases Stock Position in Matson, Inc. (NYSE:MATX)

Cwm LLC grew its stake in shares of Matson, Inc. (NYSE:MATX) by 41.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 413 shares of the shipping company’s stock after acquiring an additional 121 shares during the quarter. Cwm LLC’s holdings in Matson were worth $32,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. M&T Bank Corp boosted its holdings in shares of Matson by 35.4% during the 1st quarter. M&T Bank Corp now owns 19,771 shares of the shipping company’s stock valued at $1,180,000 after acquiring an additional 5,167 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Matson by 40.2% in the second quarter. Allspring Global Investments Holdings LLC now owns 26,084 shares of the shipping company’s stock worth $2,028,000 after buying an additional 7,477 shares during the last quarter. First Republic Investment Management Inc. purchased a new position in shares of Matson in the second quarter worth approximately $243,000. Mackenzie Financial Corp boosted its holdings in shares of Matson by 8.4% in the first quarter. Mackenzie Financial Corp now owns 11,219 shares of the shipping company’s stock worth $669,000 after buying an additional 868 shares during the last quarter. Finally, Paradiem LLC boosted its holdings in shares of Matson by 3.7% in the second quarter. Paradiem LLC now owns 65,681 shares of the shipping company’s stock worth $5,105,000 after buying an additional 2,342 shares during the last quarter. Hedge funds and other institutional investors own 85.04% of the company’s stock.

Wall Street Analysts Forecast Growth

MATX has been the topic of a number of recent analyst reports. Wolfe Research raised their target price on shares of Matson from $113.00 to $116.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 24th. StockNews.com cut shares of Matson from a “buy” rating to a “hold” rating in a research note on Wednesday, November 1st. Stifel Nicolaus raised their target price on shares of Matson from $90.00 to $102.00 and gave the stock a “hold” rating in a research note on Tuesday, October 24th. Finally, Stephens raised their target price on shares of Matson from $73.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 2nd.

Matson Trading Down 0.2 %

Matson stock opened at $90.70 on Tuesday. The stock has a market cap of $3.19 billion, a P/E ratio of 10.43 and a beta of 1.18. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.11 and a quick ratio of 1.11. Matson, Inc. has a 1 year low of $56.51 and a 1 year high of $97.49. The firm’s 50 day moving average price is $88.32 and its 200-day moving average price is $82.31.

Matson (NYSE:MATX) last released its quarterly earnings data on Monday, October 30th. The shipping company reported $3.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.36 by $0.04. The firm had revenue of $827.50 million for the quarter, compared to analysts’ expectations of $798.86 million. Matson had a net margin of 10.06% and a return on equity of 13.53%. The company’s revenue for the quarter was down 25.8% compared to the same quarter last year. During the same quarter last year, the business posted $6.89 earnings per share. On average, equities analysts predict that Matson, Inc. will post 7.89 earnings per share for the current fiscal year.

Matson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 7th. Stockholders of record on Thursday, November 9th will be given a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 1.41%. The ex-dividend date is Wednesday, November 8th. Matson’s payout ratio is currently 14.71%.

Insider Activity

In other news, SVP Vic S. Angoco, Jr. sold 11,500 shares of Matson stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $90.52, for a total transaction of $1,040,980.00. Following the sale, the senior vice president now owns 23,693 shares in the company, valued at $2,144,690.36. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, SVP Christopher A. Scott sold 350 shares of the company’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $88.59, for a total transaction of $31,006.50. Following the sale, the senior vice president now owns 11,926 shares of the company’s stock, valued at $1,056,524.34. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Vic S. Angoco, Jr. sold 11,500 shares of the company’s stock in a transaction on Tuesday, November 7th. The shares were sold at an average price of $90.52, for a total transaction of $1,040,980.00. Following the sale, the senior vice president now directly owns 23,693 shares in the company, valued at approximately $2,144,690.36. The disclosure for this sale can be found here. Insiders have sold a total of 24,868 shares of company stock worth $2,224,961 over the last quarter. Insiders own 1.90% of the company’s stock.

Matson Company 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.