Denali Advisors LLC Purchases New Shares in Matson, Inc. $MATX

Key Points

• Denali Advisors LLC acquired 21,250 Matson shares worth approximately $4.1 million, representing about 0.07% of the company. Institutional investors collectively own 84.76% of MATX.
• Matson reported quarterly EPS of $4.27, beating estimates of $3.79, while revenue rose 16.7% year over year to $969.4 million. The company also increased its quarterly dividend to $0.38 per share.
• Analyst sentiment is broadly positive, with the stock receiving a consensus “Buy” rating and an average price target of $232.33; JPMorgan raised its target to $270.

Denali Advisors LLC acquired a new stake in Matson, Inc. (NYSE:MATX - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 21,250 shares of the shipping company's stock, valued at approximately $4,085,000. Denali Advisors LLC owned about 0.07% of Matson as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of MATX. NewEdge Wealth LLC acquired a new stake in shares of Matson in the second quarter valued at $201,000. Great Lakes Advisors LLC bought a new position in shares of Matson in the second quarter valued at about $279,000. Danske Bank A S acquired a new position in Matson during the 2nd quarter worth about $12,351,000. Meeder Asset Management Inc. acquired a new position in Matson during the 2nd quarter worth about $57,000. Finally, BlackRock Inc. acquired a new position in Matson during the 2nd quarter worth about $952,903,000. Institutional investors and hedge funds own 84.76% of the company's stock.

Insider Buying and Selling at Matson

In other Matson news, SVP Grace M. Cerocke sold 1,200 shares of the company's stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $183.57, for a total value of $220,284.00. Following the completion of the sale, the senior vice president owned 17,986 shares of the company's stock, valued at approximately $3,301,690.02. This represents a 6.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Leonard P. Isotoff sold 1,250 shares of the business's stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $208.30, for a total transaction of $260,375.00. Following the completion of the transaction, the senior vice president directly owned 6,527 shares of the company's stock, valued at $1,359,574.10. This trade represents a 16.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 8,569 shares of company stock worth $1,700,521 over the last ninety days. 2.51% of the stock is owned by corporate insiders.

Matson Stock Up 0.2%

NYSE:MATX opened at $218.75 on Thursday. The company has a quick ratio of 0.89, a current 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 $230.74. The stock's fifty day simple moving average is $205.70 and its 200-day simple moving average is $182.96. The firm has a market capitalization of $6.54 billion, a P/E ratio of 14.62 and a beta of 1.27.

Matson (NYSE:MATX - Get Free Report) last released its quarterly earnings data on Monday, August 3rd. The shipping company reported $4.27 EPS for the quarter, beating analysts' consensus estimates of $3.79 by $0.48. Matson had a return on equity of 16.94% and a net margin of 13.41%.The business had revenue of $969.40 million during the quarter, compared to the consensus estimate of $893.91 million. During the same quarter in the prior year, the company posted $2.92 earnings per share. The firm's revenue was up 16.7% on a year-over-year basis. Equities research analysts expect that Matson, Inc. will post 16.01 earnings per share for the current year.

Matson Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Thursday, August 6th will be given a $0.38 dividend. The ex-dividend date is Thursday, August 6th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.7%. This is a positive change from Matson's previous quarterly dividend of $0.36. Matson's dividend payout ratio is 10.16%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on MATX shares. Weiss Ratings upgraded shares of Matson from a "hold (c)" rating to a "buy (b-)" rating in a research report on Thursday, August 6th. JPMorgan Chase & Co. upped their target price on shares of Matson from $230.00 to $270.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 4th. Wall Street Zen raised shares of Matson from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. Stephens raised their price target on shares of Matson from $240.00 to $260.00 and gave the company an "overweight" rating in a report on Tuesday, August 4th. Finally, Zacks Research upgraded shares of Matson from a "hold" rating to a "strong-buy" rating in a research report on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $232.33.

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.

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