Matson, Inc. $MATX Shares Bought by Fuller & Thaler Asset Management Inc.

Key Points

• Fuller & Thaler Asset Management Inc. increased its ownership of Matson, Inc. by 1.0% in Q1, owning approximately 1.85% of the company worth $77.37 million as of the latest SEC disclosure.
• Matson has announced a quarterly dividend increase to $0.36, with the dividend yield now at 1.4%, reflecting a boost from the previous dividend of $0.34.
• The company reported Q2 earnings of $2.92 EPS, beating estimates of $2.18, while year-over-year revenue decreased by 2% to $830.50 million.

Fuller & Thaler Asset Management Inc. boosted its position in Matson, Inc. (NYSE:MATX - Free Report) by 1.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 603,634 shares of the shipping company's stock after acquiring an additional 6,135 shares during the quarter. Fuller & Thaler Asset Management Inc. owned 1.85% of Matson worth $77,368,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in shares of Matson by 11.7% in the 1st quarter. GAMMA Investing LLC now owns 1,373 shares of the shipping company's stock valued at $176,000 after purchasing an additional 144 shares in the last quarter. SG Americas Securities LLC purchased a new position in Matson in the first quarter valued at $507,000. Envestnet Asset Management Inc. raised its stake in Matson by 8.9% in the first quarter. Envestnet Asset Management Inc. now owns 96,669 shares of the shipping company's stock valued at $12,390,000 after buying an additional 7,920 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Matson by 73.9% in the fourth quarter. Ameriprise Financial Inc. now owns 416,473 shares of the shipping company's stock valued at $56,157,000 after buying an additional 177,000 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its holdings in Matson by 194.3% during the 1st quarter. Janney Montgomery Scott LLC now owns 31,628 shares of the shipping company's stock worth $4,054,000 after buying an additional 20,881 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company's stock.

Analysts Set New Price Targets

MATX has been the topic of a number of recent analyst reports. Stifel Nicolaus dropped their price objective on Matson from $160.00 to $130.00 and set a "hold" rating on the stock in a report on Tuesday, May 6th. Jefferies Financial Group reiterated a "hold" rating and issued a $115.00 price target on shares of Matson in a research note on Friday, August 1st. Stephens cut their price objective on shares of Matson from $175.00 to $150.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. Finally, Wall Street Zen cut shares of Matson from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Matson presently has a consensus rating of "Hold" and an average target price of $131.67.

Matson Stock Performance

Shares of Matson stock traded up $3.2580 during trading on Friday, reaching $106.1880. The company's stock had a trading volume of 431,097 shares, compared to its average volume of 411,389. The company has a 50-day moving average price of $109.33 and a two-hundred day moving average price of $116.41. Matson, Inc. has a fifty-two week low of $91.75 and a fifty-two week high of $169.12. The firm has a market cap of $3.38 billion, a PE ratio of 7.18 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 issued its quarterly earnings data 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. Matson had a net margin of 14.26% and a return on equity of 18.90%. The company had revenue of $830.50 million for the quarter, compared to the consensus estimate of $727.30 million. During the same period last year, the firm posted $3.31 EPS. Matson's revenue for the quarter was down 2.0% on a year-over-year basis. On average, analysts forecast that Matson, Inc. will post 13.27 EPS for the current year.

Matson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Investors of record on Thursday, August 7th will be given a $0.36 dividend. This is a positive change from Matson's previous quarterly dividend of $0.34. The ex-dividend date is Thursday, August 7th. This represents a $1.44 dividend on an annualized basis and a yield of 1.4%. Matson's payout ratio is 9.74%.

Insider Buying and Selling at Matson

In other news, SVP Leonard P. Isotoff sold 500 shares of Matson 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 sale, the senior vice president owned 5,644 shares of the company's stock, valued at $629,136.68. The trade was a 8.14% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Christopher A. Scott sold 1,044 shares of Matson stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $109.94, for a total transaction of $114,777.36. Following the completion of the sale, the senior vice president directly owned 13,441 shares in the company, valued at approximately $1,477,703.54. The trade was 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.

About Matson

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.