Matson, Inc. $MATX Stake Lifted by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. increased its stake in Matson, Inc. by 91.6%, owning 61,500 shares valued at approximately $7.88 million as of the latest SEC filing.
• Matson recently announced a quarterly dividend of $0.36, up from the previous $0.34, indicating a solid annualized dividend yield of 1.4%.
• The company's stock is currently trading around $104.08, down 1.3%, with analysts setting a consensus price target of $131.67 for MATX.

Raymond James Financial Inc. boosted its stake in Matson, Inc. (NYSE:MATX - Free Report) by 91.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,500 shares of the shipping company's stock after buying an additional 29,400 shares during the period. Raymond James Financial Inc. owned 0.19% of Matson worth $7,883,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Ameriflex Group Inc. acquired a new stake in Matson in the fourth quarter worth $36,000. Covestor Ltd increased its position in Matson by 30.4% in the first quarter. Covestor Ltd now owns 764 shares of the shipping company's stock worth $98,000 after buying an additional 178 shares during the period. Caitong International Asset Management Co. Ltd increased its position in Matson by 676.8% in the first quarter. Caitong International Asset Management Co. Ltd now owns 769 shares of the shipping company's stock worth $99,000 after buying an additional 670 shares during the period. Parallel Advisors LLC increased its position in Matson by 112.2% in the first quarter. Parallel Advisors LLC now owns 783 shares of the shipping company's stock worth $100,000 after buying an additional 414 shares during the period. Finally, Curat Global LLC acquired a new stake in Matson in the first quarter worth $104,000. 84.76% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Matson

In other news, SVP Christopher A. Scott sold 1,044 shares of the business's stock in a transaction 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. The trade was a 7.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.05% of the company's stock.

Matson Stock Down 1.3%

MATX opened at $104.08 on Tuesday. Matson, Inc. has a one year low of $91.75 and a one year high of $169.12. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.78 and a current ratio of 0.78. The stock's fifty day moving average is $108.60 and its 200-day moving average is $114.60. The company has a market capitalization of $3.31 billion, a PE ratio of 7.04 and a beta of 1.21.

Matson (NYSE:MATX - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The shipping company reported $2.92 EPS 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 company had revenue of $830.50 million for the quarter, compared to the consensus estimate of $727.30 million. During the same quarter in the previous year, the business earned $3.31 EPS. The company's quarterly revenue was down 2.0% compared to the same quarter last year. On average, equities analysts predict that Matson, Inc. will post 13.27 EPS for the current fiscal year.

Matson Increases Dividend

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

Analyst Upgrades and Downgrades

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

Matson Company 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.

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