8,277 Shares in Matson, Inc. $MATX Acquired by Fox Run Management L.L.C.

Key Points

• Fox Run Management L.L.C. acquired 8,277 shares of Matson, Inc. valued at approximately $1,061,000 in Q1, reflecting growing interest from hedge funds in the shipping company.
• Matson reported $2.92 earnings per share for its most recent quarter, exceeding analyst expectations of $2.18, despite a year-over-year revenue decline of 2.0%.
• The company declared an increased quarterly dividend of $0.36, up from $0.34, which will be paid to shareholders on September 4th, indicating a commitment to returning value to investors.

Fox Run Management L.L.C. purchased a new position in shares of Matson, Inc. (NYSE:MATX - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 8,277 shares of the shipping company's stock, valued at approximately $1,061,000.

Other institutional investors have also modified their holdings of the company. Bessemer Group Inc. grew its position in shares of Matson by 67.7% during the fourth quarter. Bessemer Group Inc. now owns 213 shares of the shipping company's stock valued at $29,000 after purchasing an additional 86 shares in the last quarter. Hohimer Wealth Management LLC grew its position in Matson by 5.2% in the first quarter. Hohimer Wealth Management LLC now owns 2,192 shares of the shipping company's stock worth $281,000 after acquiring an additional 109 shares in the last quarter. Xponance Inc. boosted its position in shares of Matson by 4.3% during 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 period. Cerity Partners LLC boosted its position in Matson by 4.6% during the 1st quarter. Cerity Partners LLC now owns 2,637 shares of the shipping company's stock valued at $338,000 after acquiring an additional 117 shares in the last quarter. Finally, Hancock Whitney Corp grew its holdings in shares of Matson by 8.2% during the fourth quarter. Hancock Whitney Corp now owns 1,598 shares of the shipping company's stock valued at $215,000 after buying an additional 121 shares during the last quarter. Institutional investors own 84.76% of the company's stock.

Matson Stock Performance

Shares of MATX stock traded up $0.36 on Friday, hitting $105.01. 318,898 shares of the stock were exchanged, compared to its average volume of 396,220. The firm's 50 day moving average is $110.32 and its two-hundred day moving average is $117.28. Matson, Inc. has a one year low of $91.75 and a one year high of $169.12. The firm has a market capitalization of $3.34 billion, a PE ratio of 7.10 and a beta of 1.22. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.13.

Matson (NYSE:MATX - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The shipping company reported $2.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.18 by $0.74. The business had revenue of $830.50 million for the quarter, compared to analyst estimates of $727.30 million. Matson had a return on equity of 18.90% and a net margin of 14.26%. Matson's revenue for the quarter was down 2.0% compared to the same quarter last year. During the same period last year, the company earned $3.31 EPS. Sell-side analysts expect that Matson, Inc. will post 13.27 earnings per share for the current fiscal year.

Matson Increases Dividend

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

Insider Buying and Selling at Matson

In other Matson news, SVP Leonard P. Isotoff sold 500 shares of the company's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $111.47, for a total transaction of $55,735.00. Following the sale, the senior vice president directly owned 5,644 shares in the company, valued at $629,136.68. This represents a 8.14% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Christopher A. Scott sold 1,044 shares of the stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $109.94, for a total value of $114,777.36. Following the completion of the transaction, the senior vice president directly owned 13,441 shares in the company, valued at approximately $1,477,703.54. This trade represents a 7.21% decrease in their position. The disclosure for this sale can be found here. 2.05% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

MATX has been the topic of several research analyst reports. Stifel Nicolaus cut 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. Stephens lowered their price objective on shares of Matson from $175.00 to $150.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. Jefferies Financial Group reiterated a "hold" rating and issued a $115.00 target price on shares of Matson in a research note on Friday, August 1st. Finally, Wall Street Zen lowered shares of Matson from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $131.67.

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.