Exchange Traded Concepts LLC Has $951,000 Stock Holdings in Matson, Inc. (NYSE:MATX)

Exchange Traded Concepts LLC lifted its holdings in Matson, Inc. (NYSE:MATX - Free Report) by 18,928.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,421 shares of the shipping company's stock after buying an additional 7,382 shares during the period. Exchange Traded Concepts LLC's holdings in Matson were worth $951,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bessemer Group Inc. boosted its position in shares of Matson by 67.7% in the fourth quarter. Bessemer Group Inc. now owns 213 shares of the shipping company's stock worth $29,000 after buying an additional 86 shares during the period. Aster Capital Management DIFC Ltd purchased a new stake in shares of Matson during the fourth quarter worth $30,000. Ameriflex Group Inc. purchased a new stake in shares of Matson during the fourth quarter worth $36,000. IFP Advisors Inc purchased a new stake in shares of Matson during the fourth quarter worth $40,000. Finally, Covestor Ltd raised its holdings in shares of Matson by 16.3% during the fourth quarter. Covestor Ltd now owns 586 shares of the shipping company's stock worth $79,000 after acquiring an additional 82 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company's stock.

Insider Transactions at Matson

In other Matson news, Director Bradley D. Tilden acquired 2,752 shares of the company's stock in a transaction dated Thursday, May 29th. The shares were acquired at an average cost of $111.76 per share, for a total transaction of $307,563.52. Following the completion of the purchase, the director now owns 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 purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Leonard P. Isotoff sold 500 shares of the business's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $111.47, for a total value of $55,735.00. Following the transaction, the senior vice president now owns 5,644 shares in the company, valued at $629,136.68. This represents a 8.14% 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 corporate insiders.

Matson Price Performance

NYSE MATX opened at $110.64 on Friday. Matson, Inc. has a fifty-two week low of $91.75 and a fifty-two week high of $169.12. The stock's 50-day moving average is $108.15 and its two-hundred day moving average is $126.67. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market cap of $3.61 billion, a P/E ratio of 7.29 and a beta of 1.31.

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

Matson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Thursday, May 8th were paid a $0.34 dividend. The ex-dividend date was Thursday, May 8th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.23%. Matson's payout ratio is presently 8.96%.

Wall Street Analysts Forecast Growth

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

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.

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