Algert Global LLC Raises Holdings in Matson, Inc. $MATX

Algert Global LLC increased its position in shares of Matson, Inc. (NYSE:MATX) by 69.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 169,842 shares of the shipping company’s stock after buying an additional 69,829 shares during the period. Algert Global LLC owned about 0.54% of Matson worth $16,745,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in MATX. Federated Hermes Inc. raised its holdings in shares of Matson by 124.3% in the 3rd quarter. Federated Hermes Inc. now owns 249 shares of the shipping company’s stock valued at $25,000 after purchasing an additional 138 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of Matson during the second quarter valued at approximately $28,000. Ameriflex Group Inc. increased its holdings in Matson by 100.8% during the third quarter. Ameriflex Group Inc. now owns 510 shares of the shipping company’s stock valued at $50,000 after buying an additional 256 shares during the period. State of Wyoming increased its holdings in Matson by 482.8% during the third quarter. State of Wyoming now owns 542 shares of the shipping company’s stock valued at $53,000 after buying an additional 449 shares during the period. Finally, NewEdge Advisors LLC bought a new position in Matson in the first quarter worth approximately $78,000. 84.76% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MATX. Wolfe Research restated an “outperform” rating and set a $167.00 target price on shares of Matson in a report on Thursday, January 8th. Wall Street Zen downgraded Matson from a “buy” rating to a “hold” rating in a report on Sunday. Weiss Ratings reissued a “hold (c)” rating on shares of Matson in a research report on Monday, December 29th. Finally, Stephens upped their price objective on Matson from $190.00 to $213.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 21st. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Matson currently has an average rating of “Hold” and a consensus price target of $156.25.

Matson Stock Performance

Shares of MATX stock opened at $149.75 on Friday. The business’s fifty day simple moving average is $155.35 and its 200-day simple moving average is $123.93. The company has a market cap of $4.56 billion, a PE ratio of 10.74 and a beta of 1.32. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.11. Matson, Inc. has a 12-month low of $86.97 and a 12-month high of $177.51.

Matson (NYSE:MATX) last posted its quarterly earnings data on Tuesday, February 24th. The shipping company reported $4.60 earnings per share for the quarter, topping analysts’ consensus estimates of $3.69 by $0.91. Matson had a return on equity of 16.63% and a net margin of 13.30%.The firm had revenue of $851.90 million during the quarter, compared to analysts’ expectations of $847.30 million. During the same quarter last year, the firm earned $3.80 EPS. The business’s quarterly revenue was down 4.3% on a year-over-year basis. Analysts expect that Matson, Inc. will post 13.27 earnings per share for the current fiscal year.

Matson Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 5th. Stockholders of record on Thursday, February 5th were paid a dividend of $0.36 per share. The ex-dividend date was Thursday, February 5th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.0%. Matson’s payout ratio is presently 10.33%.

Insider Activity

In related news, EVP John P. Lauer sold 8,603 shares of Matson stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $166.13, for a total value of $1,429,216.39. Following the completion of the sale, the executive vice president directly owned 23,738 shares in the company, valued at $3,943,593.94. This trade represents a 26.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Peter T. Heilmann sold 13,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $165.46, for a total transaction of $2,150,980.00. Following the transaction, the executive vice president owned 32,679 shares in the company, valued at $5,407,067.34. The trade was a 28.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 42,550 shares of company stock valued at $7,034,602. 2.05% of the stock is owned by company insiders.

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.