Exchange Traded Concepts LLC Buys 7,382 Shares of Matson, Inc. (NYSE:MATX)

Exchange Traded Concepts LLC increased its position in shares of Matson, Inc. (NYSE:MATX - Free Report) by 18,928.2% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,421 shares of the shipping company's stock after acquiring an additional 7,382 shares during the quarter. Exchange Traded Concepts LLC's holdings in Matson were worth $951,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Bessemer Group Inc. increased its stake in Matson by 67.7% in the 4th quarter. Bessemer Group Inc. now owns 213 shares of the shipping company's stock valued at $29,000 after buying an additional 86 shares during the period. Aster Capital Management DIFC Ltd acquired a new position in Matson in the 4th quarter valued at approximately $30,000. Ameriflex Group Inc. acquired a new position in Matson in the 4th quarter valued at approximately $36,000. IFP Advisors Inc acquired a new position in Matson in the 4th quarter valued at approximately $40,000. Finally, Covestor Ltd increased its stake in Matson by 16.3% in the 4th quarter. Covestor Ltd now owns 586 shares of the shipping company's stock valued at $79,000 after buying an additional 82 shares during the period. Institutional investors and hedge funds own 84.76% of the company's stock.

Insider Activity

In related news, SVP Leonard P. Isotoff sold 500 shares of the stock in a transaction dated Wednesday, May 28th. The shares were 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 now owns 5,644 shares in the company, valued at $629,136.68. This trade represents a 8.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Bradley D. Tilden acquired 2,752 shares of the firm's stock in a transaction on Thursday, May 29th. The shares were bought at an average cost of $111.76 per share, for a total transaction of $307,563.52. Following the acquisition, the director now owns 8,180 shares in the company, valued at approximately $914,196.80. The trade was a 50.70% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 2.05% of the company's stock.

Matson Stock Performance

NYSE:MATX traded up $1.74 during trading hours on Monday, hitting $111.60. 234,110 shares of the company traded hands, compared to its average volume of 346,048. The stock has a market capitalization of $3.64 billion, a price-to-earnings ratio of 7.35 and a beta of 1.31. Matson, Inc. has a twelve month low of $91.75 and a twelve month high of $169.12. The firm has a 50-day moving average of $108.66 and a 200 day moving average of $125.42. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.13.

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 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 analyst estimates of $818.07 million. During the same quarter in the previous year, the company earned $1.04 earnings per share. Matson's revenue for the quarter was up 8.3% compared to the same quarter last year. On average, analysts forecast that Matson, Inc. will post 13.27 EPS for the current 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. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date was Thursday, May 8th. Matson's dividend payout ratio is 8.96%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Wall Street Zen lowered shares of Matson from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. Stifel Nicolaus decreased their target price on shares of Matson from $160.00 to $130.00 and set a "hold" rating for the company in a research report on Tuesday, May 6th. Jefferies Financial Group reissued a "buy" rating and issued a $135.00 target price on shares of Matson in a research report on Wednesday, June 11th. Finally, Stephens decreased their target price on shares of Matson from $175.00 to $150.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price 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.