Osaic Holdings Inc. Boosts Holdings in Matson, Inc. $MATX

Osaic Holdings Inc. grew its position in shares of Matson, Inc. (NYSE:MATX) by 72.3% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,630 shares of the shipping company’s stock after buying an additional 4,459 shares during the quarter. Osaic Holdings Inc.’s holdings in Matson were worth $1,211,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hantz Financial Services Inc. increased its stake in shares of Matson by 67.1% during the second quarter. Hantz Financial Services Inc. now owns 254 shares of the shipping company’s stock worth $28,000 after acquiring an additional 102 shares during the period. Headlands Technologies LLC purchased a new stake in Matson in the 2nd quarter valued at approximately $28,000. State of Wyoming increased its position in Matson by 495.3% during the 1st quarter. State of Wyoming now owns 381 shares of the shipping company’s stock worth $49,000 after purchasing an additional 317 shares during the period. IFP Advisors Inc raised its stake in shares of Matson by 42.6% during the 2nd quarter. IFP Advisors Inc now owns 442 shares of the shipping company’s stock worth $49,000 after buying an additional 132 shares in the last quarter. Finally, NewEdge Advisors LLC acquired a new stake in shares of Matson in the 1st quarter valued at approximately $78,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Matson Stock Down 0.6%

Matson stock opened at $123.62 on Friday. Matson, Inc. has a fifty-two week low of $86.97 and a fifty-two week high of $154.23. The firm has a market capitalization of $3.85 billion, a price-to-earnings ratio of 9.41 and a beta of 1.33. The stock’s fifty day moving average is $112.32 and its two-hundred day moving average is $107.69. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.83 and a current ratio of 0.83.

Matson (NYSE:MATX) last released its quarterly earnings data on Tuesday, November 4th. The shipping company reported $4.24 EPS for the quarter, topping the consensus estimate of $3.25 by $0.99. The business had revenue of $880.10 million for the quarter, compared to analyst estimates of $837.72 million. Matson had a net margin of 12.70% and a return on equity of 16.23%. The business’s revenue for the quarter was down 8.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $5.89 EPS. Analysts predict that Matson, Inc. will post 13.27 EPS for the current fiscal year.

Matson Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 4th. Stockholders of record on Thursday, November 6th were given a $0.36 dividend. The ex-dividend date was Thursday, November 6th. This represents a $1.44 annualized dividend and a dividend yield of 1.2%. Matson’s dividend payout ratio is currently 10.96%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MATX. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Matson in a report on Monday. Stephens boosted their target price on shares of Matson from $160.00 to $180.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 5th. Wolfe Research raised shares of Matson from a “peer perform” rating to an “outperform” rating and set a $142.00 price target on the stock in a research note on Friday, November 7th. Finally, Zacks Research upgraded shares of Matson from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 16th. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Matson currently has an average rating of “Hold” and an average price target of $141.75.

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.