Dimensional Fund Advisors LP Has $257.41 Million Holdings in Matson, Inc. $MATX

Key Points

• Dimensional Fund Advisors LP has reduced its stake in Matson, Inc. by 3.9%, selling 80,577 shares, leaving them with 2,008,372 shares valued at approximately $257 million.
• Matson's quarterly earnings report showed an EPS of $2.92, exceeding analysts' estimates, while revenue decreased by 2.0% year-over-year.
• Matson declared a quarterly dividend increase from $0.34 to $0.36, with an annual yield of 1.4%, highlighting a solid payout ratio of 9.74%.

Dimensional Fund Advisors LP lowered its stake in shares of Matson, Inc. (NYSE:MATX - Free Report) by 3.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,008,372 shares of the shipping company's stock after selling 80,577 shares during the quarter. Dimensional Fund Advisors LP owned about 6.15% of Matson worth $257,407,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in MATX. Fox Run Management L.L.C. bought a new stake in shares of Matson during the 1st quarter valued at $1,061,000. Cookson Peirce & Co. Inc. raised its stake in Matson by 16.4% in the first quarter. Cookson Peirce & Co. Inc. now owns 7,475 shares of the shipping company's stock valued at $958,000 after purchasing an additional 1,054 shares in the last quarter. Neuberger Berman Group LLC lifted its position in Matson by 40.0% during the first quarter. Neuberger Berman Group LLC now owns 2,529 shares of the shipping company's stock worth $324,000 after purchasing an additional 723 shares during the period. Boston Partners raised its position in shares of Matson by 424.8% in the 1st quarter. Boston Partners now owns 958,170 shares of the shipping company's stock valued at $121,428,000 after buying an additional 775,600 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its position in shares of Matson by 676.8% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 769 shares of the shipping company's stock valued at $99,000 after buying an additional 670 shares in the last quarter. Institutional investors own 84.76% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Wall Street Zen lowered shares of Matson from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. Stephens reduced their target price on Matson from $175.00 to $150.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. Stifel Nicolaus lowered their price target on Matson from $160.00 to $130.00 and set a "hold" rating for the company in a report on Tuesday, May 6th. Finally, Jefferies Financial Group reiterated a "hold" rating and issued a $115.00 target price on shares of Matson in a research report on Friday, August 1st. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Matson presently has a consensus rating of "Hold" and an average price target of $131.67.

Matson Trading Up 3.0%

Matson stock traded up $3.0750 during trading hours on Friday, hitting $106.0050. The stock had a trading volume of 301,248 shares, compared to its average volume of 410,604. The business's 50 day simple moving average is $109.46 and its 200-day simple moving average is $116.61. Matson, Inc. has a one year low of $91.75 and a one year high of $169.12. The stock has a market cap of $3.37 billion, a price-to-earnings ratio of 7.17 and a beta of 1.22. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.13.

Matson (NYSE:MATX - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The shipping company reported $2.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.18 by $0.74. Matson had a return on equity of 18.90% and a net margin of 14.26%.The company had revenue of $830.50 million during the quarter, compared to the consensus estimate of $727.30 million. During the same quarter in the prior year, the firm posted $3.31 earnings per share. The firm's revenue was down 2.0% compared to the same quarter last year. On average, equities analysts predict that Matson, Inc. will post 13.27 EPS for the current fiscal year.

Matson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 7th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.4%. This is a boost from Matson's previous quarterly dividend of $0.34. The ex-dividend date is Thursday, August 7th. Matson's dividend payout ratio (DPR) is presently 9.74%.

Insider Buying and Selling

In related news, Director Bradley D. Tilden acquired 2,752 shares of the firm's stock in a transaction that occurred on Thursday, May 29th. The stock was acquired at an average cost of $111.76 per share, for a total transaction of $307,563.52. Following the completion of the acquisition, the director directly owned 8,180 shares of the company's stock, valued at approximately $914,196.80. This trade represents a 50.70% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Christopher A. Scott sold 1,044 shares of Matson stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $109.94, for a total value of $114,777.36. Following the transaction, the senior vice president directly owned 13,441 shares in the company, valued at $1,477,703.54. The trade was a 7.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.05% of the stock is currently owned by insiders.

Matson Profile

Matson, Inc, together with its subsidiaries, engages in the provision of ocean transportation and logistics services. It operates through two segments, Ocean Transportation and Logistics. The Ocean Transportation segment offers ocean freight transportation services to the domestic non-contiguous economies of Hawaii, Japan, Alaska, and Guam, as well as to other island economies in Micronesia.