Fox Run Management L.L.C. Has $1.15 Million Stock Position in Matson, Inc. $MATX

Key Points

• Fox Run Management L.L.C. boosted its Matson stake by 242.1% in the fourth quarter, ending with 9,292 shares valued at about $1.15 million.
• Several insiders sold shares in May, including two senior vice presidents, and insiders have sold 23,963 shares worth about $4.35 million over the last 90 days.
• Matson reported better-than-expected EPS of $1.85 for the quarter, declared a $0.36 quarterly dividend, and currently has a Moderate Buy consensus rating with an average price target of $181.25.

Fox Run Management L.L.C. grew its position in Matson, Inc. (NYSE:MATX - Free Report) by 242.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,292 shares of the shipping company's stock after buying an additional 6,576 shares during the quarter. Fox Run Management L.L.C.'s holdings in Matson were worth $1,148,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Danske Bank A S acquired a new position in shares of Matson in the fourth quarter worth about $25,000. Federated Hermes Inc. grew its holdings in shares of Matson by 124.3% during the third quarter. Federated Hermes Inc. now owns 249 shares of the shipping company's stock valued at $25,000 after buying an additional 138 shares in the last quarter. SouthState Bank Corp purchased a new position in shares of Matson during the fourth quarter valued at $31,000. Headlands Technologies LLC purchased a new position in shares of Matson during the second quarter valued at $28,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Matson by 57.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 258 shares of the shipping company's stock valued at $32,000 after buying an additional 94 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Matson

In other Matson news, SVP John Warren Sullivan sold 3,331 shares of the company's stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $180.14, for a total value of $600,046.34. Following the completion of the transaction, the senior vice president owned 9,547 shares of the company's stock, valued at $1,719,796.58. This represents a 25.87% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Christopher A. Scott sold 3,305 shares of the company's stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $180.14, for a total value of $595,362.70. Following the completion of the transaction, the senior vice president directly owned 11,228 shares of the company's stock, valued at approximately $2,022,611.92. This trade represents a 22.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 23,963 shares of company stock worth $4,349,268. 2.51% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on MATX. Wall Street Zen downgraded Matson from a "buy" rating to a "hold" rating in a report on Sunday, March 15th. Weiss Ratings reiterated a "hold (c)" rating on shares of Matson in a report on Friday, May 29th. Zacks Research upgraded Matson to a "hold" rating in a report on Wednesday, April 29th. Finally, JPMorgan Chase & Co. began coverage on Matson in a research report on Monday, April 27th. They set an "overweight" rating and a $230.00 price objective for the company. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Matson presently has a consensus rating of "Moderate Buy" and an average target price of $181.25.

Matson Trading Up 1.2%

Matson stock opened at $194.60 on Wednesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.82 and a current ratio of 0.82. The business's 50-day simple moving average is $177.77 and its 200-day simple moving average is $155.03. The firm has a market capitalization of $5.89 billion, a PE ratio of 14.30 and a beta of 1.29. Matson, Inc. has a 52 week low of $86.97 and a 52 week high of $197.63.

Matson (NYSE:MATX - Get Free Report) last posted its quarterly earnings results on Monday, May 4th. The shipping company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.65 by $0.20. The firm had revenue of $757.80 million during the quarter, compared to analysts' expectations of $777.55 million. Matson had a return on equity of 15.90% and a net margin of 12.92%.The company's revenue for the quarter was down 3.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.18 EPS. Equities research analysts forecast that Matson, Inc. will post 13.96 earnings per share for the current year.

Matson Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 7th were issued a $0.36 dividend. The ex-dividend date of this dividend was Thursday, May 7th. This represents a $1.44 annualized dividend and a yield of 0.7%. Matson's dividend payout ratio is 10.58%.

Matson Company 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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