Edgestream Partners L.P. Makes New Investment in Matson, Inc. (NYSE:MATX)

Edgestream Partners L.P. acquired a new stake in Matson, Inc. (NYSE:MATX - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 65,332 shares of the shipping company's stock, valued at approximately $8,374,000. Edgestream Partners L.P. owned 0.20% of Matson at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of MATX. Stephens Inc. AR lifted its position in Matson by 3.5% in the first quarter. Stephens Inc. AR now owns 4,852 shares of the shipping company's stock valued at $622,000 after buying an additional 164 shares during the last quarter. Xponance Inc. lifted its position in Matson by 4.3% in the first quarter. Xponance Inc. now owns 2,767 shares of the shipping company's stock valued at $355,000 after buying an additional 113 shares during the last quarter. Cerity Partners LLC lifted its position in Matson by 4.6% in the first quarter. Cerity Partners LLC now owns 2,637 shares of the shipping company's stock valued at $338,000 after buying an additional 117 shares during the last quarter. Alps Advisors Inc. acquired a new position in Matson in the first quarter valued at about $358,000. Finally, Banque Pictet & Cie SA acquired a new position in Matson in the first quarter valued at about $473,000. Hedge funds and other institutional investors own 84.76% of the company's stock.

Matson Stock Up 0.6%

Matson stock traded up $0.65 during mid-day trading on Thursday, hitting $111.97. The company had a trading volume of 76,342 shares, compared to its average volume of 350,021. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.13. The stock has a market cap of $3.66 billion, a price-to-earnings ratio of 7.39 and a beta of 1.28. The business has a fifty day moving average of $112.01 and a 200 day moving average of $122.21. Matson, Inc. has a 1 year low of $91.75 and a 1 year high of $169.12.

Matson (NYSE:MATX - Get Free Report) last released its earnings results on Monday, May 5th. The shipping company reported $2.18 EPS for the quarter, missing analysts' consensus estimates of $2.34 by ($0.16). The business had revenue of $782.00 million during the quarter, compared to analyst estimates of $818.07 million. Matson had a net margin of 14.72% and a return on equity of 20.02%. Matson's revenue was up 8.3% compared to the same quarter last year. During the same period last year, the business posted $1.04 EPS. On average, sell-side analysts expect that Matson, Inc. will post 13.27 earnings per share for the current fiscal year.

Matson Increases Dividend

The company 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. The ex-dividend date is Thursday, August 7th. This is an increase from Matson's previous quarterly dividend of $0.34. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.29%. Matson's payout ratio is 8.96%.

Analyst Upgrades and Downgrades

MATX has been the topic of several research reports. Stephens reduced their price target on shares of Matson from $175.00 to $150.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. Wall Street Zen cut shares of Matson from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. Jefferies Financial Group reissued a "buy" rating and set a $135.00 price target on shares of Matson in a research report on Wednesday, June 11th. Finally, Stifel Nicolaus dropped their price target on shares of Matson from $160.00 to $130.00 and set a "hold" rating on the stock in a research note on Tuesday, May 6th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $138.33.

Insider Buying and Selling at Matson

In other news, SVP Leonard P. Isotoff sold 500 shares of the business's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $111.47, for a total transaction of $55,735.00. Following the completion of the sale, the senior vice president owned 5,644 shares in the company, valued at approximately $629,136.68. The trade was a 8.14% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Laura L. Rascon sold 1,700 shares of the business's stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $118.19, for a total value of $200,923.00. Following the transaction, the senior vice president directly owned 14,712 shares in the company, valued at $1,738,811.28. This trade represents a 10.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.05% of the stock is owned by company insiders.

Matson Company 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.