Intech Investment Management LLC Increases Stock Holdings in Matson, Inc. $MATX

Key Points

• Intech Investment Management LLC increased its stake in Matson, Inc. by 178.8% in the first quarter, now owning approximately 0.17% of the company valued at $7.19 million.
• Analysts have given Matson a consensus rating of "Hold" with a target price of $131.67, while Jefferies Financial Group set a price objective of $115.00.
• Matson declared a quarterly dividend of $0.36 per share, up from the previous $0.34, with a current annualized yield of 1.4%.

Intech Investment Management LLC increased its stake in Matson, Inc. (NYSE:MATX - Free Report) by 178.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 56,102 shares of the shipping company's stock after purchasing an additional 35,980 shares during the quarter. Intech Investment Management LLC owned about 0.17% of Matson worth $7,191,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Ethic Inc. lifted its stake in Matson by 2.7% during the first quarter. Ethic Inc. now owns 4,092 shares of the shipping company's stock valued at $537,000 after buying an additional 108 shares in the last quarter. Hohimer Wealth Management LLC grew its stake in shares of 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 during the last quarter. Xponance Inc. lifted its position in Matson by 4.3% in the first quarter. Xponance Inc. now owns 2,767 shares of the shipping company's stock worth $355,000 after purchasing an additional 113 shares during the period. Cerity Partners LLC lifted its position in Matson by 4.6% in the first quarter. Cerity Partners LLC now owns 2,637 shares of the shipping company's stock worth $338,000 after purchasing an additional 117 shares during the period. Finally, Hancock Whitney Corp lifted its holdings in shares of Matson by 8.3% during the first quarter. Hancock Whitney Corp now owns 1,730 shares of the shipping company's stock valued at $222,000 after acquiring an additional 132 shares during the period. 84.76% of the stock is owned by institutional investors and hedge funds.

Matson Stock Up 2.3%

Shares of Matson stock traded up $2.43 on Wednesday, reaching $107.86. 59,141 shares of the company were exchanged, compared to its average volume of 397,267. Matson, Inc. has a one year low of $91.75 and a one year high of $169.12. The company has a market capitalization of $3.43 billion, a price-to-earnings ratio of 7.31 and a beta of 1.21. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.13. The company has a 50-day moving average of $106.89 and a 200 day moving average of $111.76.

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

Matson Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 7th were given a $0.36 dividend. This is a boost from Matson's previous quarterly dividend of $0.34. This represents a $1.44 annualized dividend and a yield of 1.3%. The ex-dividend date was Thursday, August 7th. Matson's dividend payout ratio is 9.74%.

Insider Buying and Selling

In other Matson news, SVP Christopher A. Scott sold 1,044 shares of the stock in a transaction dated 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.05% of the company's stock.

Analysts Set New Price Targets

Separately, Jefferies Financial Group reissued a "hold" rating and set a $115.00 price objective on shares of Matson in a report on Friday, August 1st. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Matson has an average rating of "Hold" and a consensus price target of $131.67.

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.