Matson, Inc. $MATX Shares Purchased by New Age Alpha Advisors LLC

Key Points

• New Age Alpha Advisors LLC sharply boosted its Matson stake by 3,920.5% in the fourth quarter, ending with 40,245 shares valued at about $4.97 million. Institutional investors now hold 84.76% of the shipping company’s stock.
• Matson reported better-than-expected earnings for the latest quarter, with EPS of $1.85 versus analyst expectations of $1.65. Revenue came in below forecasts at $757.8 million and was down 3.1% year over year.
• The company declared a quarterly dividend of $0.36 per share, payable on June 4, implying an annualized dividend of $1.44 and a yield of 0.8%. At the same time, several company insiders sold shares, including two senior vice presidents.

New Age Alpha Advisors LLC increased its stake in shares of Matson, Inc. (NYSE:MATX - Free Report) by 3,920.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,245 shares of the shipping company's stock after purchasing an additional 39,244 shares during the period. New Age Alpha Advisors LLC owned 0.13% of Matson worth $4,972,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Hantz Financial Services Inc. raised its holdings in Matson by 286.2% in the 4th quarter. Hantz Financial Services Inc. now owns 726 shares of the shipping company's stock valued at $90,000 after acquiring an additional 538 shares during the last quarter. Jefferies Financial Group Inc. acquired a new position in Matson in the 4th quarter valued at $280,000. EverSource Wealth Advisors LLC raised its holdings in Matson by 57.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 258 shares of the shipping company's stock valued at $32,000 after acquiring an additional 94 shares during the last quarter. Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in Matson in the 4th quarter valued at $2,017,000. Finally, Larson Financial Group LLC raised its holdings in Matson by 31,100.0% in the 4th quarter. Larson Financial Group LLC now owns 312 shares of the shipping company's stock valued at $39,000 after acquiring an additional 311 shares during the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Matson Trading Down 0.1%

MATX stock opened at $181.67 on Tuesday. The company has a market cap of $5.50 billion, a price-to-earnings ratio of 13.35 and a beta of 1.30. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.11. The business has a fifty day simple moving average of $171.34 and a 200-day simple moving average of $148.88. Matson, Inc. has a 52 week low of $86.97 and a 52 week high of $190.00.

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

Matson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Thursday, May 7th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Thursday, May 7th. Matson's dividend payout ratio is presently 10.58%.

Insider Buying and Selling at Matson

In other news, SVP Laura L. Rascon sold 540 shares of the company's stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $180.83, for a total transaction of $97,648.20. Following the completion of the sale, the senior vice president directly owned 18,456 shares in the company, valued at $3,337,398.48. This represents a 2.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Kuuhaku T. Park sold 2,500 shares of the company's stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $180.19, for a total value of $450,475.00. Following the sale, the senior vice president owned 10,984 shares of the company's stock, valued at approximately $1,979,206.96. The trade was a 18.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 62,513 shares of company stock worth $10,635,702. 2.51% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

MATX has been the subject of several analyst reports. Wall Street Zen downgraded Matson from a "buy" rating to a "hold" rating in a report on Sunday, March 15th. Zacks Research upgraded Matson to a "hold" rating in a report on Wednesday, April 29th. Finally, JPMorgan Chase & Co. initiated coverage on Matson in a report on Monday, April 27th. They issued an "overweight" rating and a $230.00 price target for the company. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Matson has an average rating of "Moderate Buy" and an average price target of $181.25.

Matson 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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