Kingstone Capital Partners Texas LLC Makes New $14.18 Million Investment in Matson, Inc. $MATX

Key Points

• Kingstone Capital Partners Texas LLC acquired 127,373 shares of Matson, Inc. valued at approximately $14.18 million, marking a new stake for the firm in the shipping company.
• Matson reported a Q2 EPS of $2.92, exceeding estimates by $0.74, but its revenue decreased by 2% year-over-year.
• The company recently increased its quarterly dividend to $0.36 per share, reflecting a 5.88% increase from the previous dividend of $0.34.

Kingstone Capital Partners Texas LLC acquired a new stake in shares of Matson, Inc. (NYSE:MATX - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 127,373 shares of the shipping company's stock, valued at approximately $14,183,000. Kingstone Capital Partners Texas LLC owned approximately 0.39% of Matson as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the company. Exchange Traded Concepts LLC increased its position in shares of Matson by 6.1% during the second quarter. Exchange Traded Concepts LLC now owns 7,871 shares of the shipping company's stock valued at $876,000 after acquiring an additional 450 shares during the last quarter. Baron Wealth Management LLC purchased a new stake in Matson in the 2nd quarter valued at $232,000. Inspire Investing LLC raised its position in Matson by 190.2% in the 1st quarter. Inspire Investing LLC now owns 8,625 shares of the shipping company's stock valued at $1,105,000 after purchasing an additional 5,653 shares during the last quarter. Strs Ohio purchased a new stake in Matson in the 1st quarter valued at $1,218,000. Finally, Intech Investment Management LLC raised its position in Matson by 178.8% during the 1st quarter. Intech Investment Management LLC now owns 56,102 shares of the shipping company's stock worth $7,191,000 after buying an additional 35,980 shares during the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MATX has been the topic of a number of research reports. Zacks Research raised shares of Matson from a "strong sell" rating to a "hold" rating in a research note on Tuesday, September 16th. Jefferies Financial Group reissued a "hold" rating and issued a $115.00 target price on shares of Matson in a research report on Friday, August 1st. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $131.67.

Matson Price Performance

MATX stock traded down $0.12 during trading on Tuesday, hitting $104.60. The company had a trading volume of 55,667 shares, compared to its average volume of 400,842. 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 business has a 50 day moving average of $106.23 and a 200 day moving average of $110.74. 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 capitalization of $3.33 billion, a price-to-earnings ratio of 7.07 and a beta of 1.21.

Matson (NYSE:MATX - Get Free Report) last released its earnings results on Thursday, July 31st. The shipping company reported $2.92 earnings per share for the quarter, beating the consensus estimate of $2.18 by $0.74. The company had revenue of $830.50 million for the quarter, compared to analysts' expectations of $727.30 million. Matson had a return on equity of 18.90% and a net margin of 14.26%.The business's revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.31 EPS. As a group, research analysts predict that Matson, Inc. will post 13.27 earnings per share for the current year.

Matson Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 4th. Shareholders of record on Thursday, August 7th were issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.4%. This is an increase from Matson's previous quarterly dividend of $0.34. The ex-dividend date was Thursday, August 7th. Matson's dividend payout ratio (DPR) is 9.74%.

Insider Transactions at Matson

In related news, SVP Christopher A. Scott sold 1,044 shares of Matson 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 sale, the senior vice president owned 13,441 shares of the company's stock, valued at approximately $1,477,703.54. This trade represents a 7.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.05% of the company's stock.

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.