Matson, Inc. $MATX Stock Position Raised by Squarepoint Ops LLC

Squarepoint Ops LLC increased its holdings in shares of Matson, Inc. (NYSE:MATX - Free Report) by 247.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,332 shares of the shipping company's stock after acquiring an additional 15,189 shares during the quarter. Squarepoint Ops LLC owned approximately 0.07% of Matson worth $4,101,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Allworth Financial LP acquired a new position in Matson in the second quarter valued at approximately $28,000. Headlands Technologies LLC acquired a new stake in shares of Matson during the 2nd quarter worth approximately $28,000. Measured Wealth Private Client Group LLC acquired a new stake in shares of Matson during the 3rd quarter worth approximately $30,000. SouthState Bank Corp bought a new stake in shares of Matson in the 4th quarter worth approximately $31,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Matson by 57.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 258 shares of the shipping company's stock worth $32,000 after purchasing an additional 94 shares during the last quarter. Institutional investors own 84.76% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Weiss Ratings upgraded Matson from a "hold (c)" rating to a "buy (b-)" rating in a research note on Thursday, August 6th. Stephens raised their target price on Matson from $240.00 to $260.00 and gave the company an "overweight" rating in a research note on Tuesday, August 4th. Zacks Research raised shares of Matson from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 6th. Wall Street Zen lowered shares of Matson from a "buy" rating to a "hold" rating in a research report on Saturday, August 22nd. Finally, JPMorgan Chase & Co. upped their price target on shares of Matson from $230.00 to $270.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $232.33.

Insider Buying and Selling

In related news, SVP Kuuhaku T. Park sold 1,000 shares of the company's stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $208.49, for a total value of $208,490.00. Following the completion of the sale, the senior vice president owned 9,984 shares of the company's stock, valued at $2,081,564.16. This represents a 9.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Leonard P. Isotoff sold 1,250 shares of the stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $208.30, for a total transaction of $260,375.00. Following the completion of the transaction, the senior vice president owned 6,527 shares of the company's stock, valued at $1,359,574.10. This represents a 16.07% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 12,462 shares of company stock valued at $2,695,832. Company insiders own 2.51% of the company's stock.

Matson Stock Performance

Shares of NYSE MATX opened at $230.17 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.11. The stock has a 50 day simple moving average of $214.79 and a 200-day simple moving average of $190.00. The company has a market cap of $6.88 billion, a PE ratio of 15.39 and a beta of 1.26. Matson, Inc. has a 12-month low of $86.97 and a 12-month high of $232.42.

Matson (NYSE:MATX - Get Free Report) last posted its earnings results on Monday, August 3rd. The shipping company reported $4.27 EPS for the quarter, beating the consensus estimate of $3.79 by $0.48. Matson had a return on equity of 16.94% and a net margin of 13.41%.The firm had revenue of $969.40 million for the quarter, compared to analysts' expectations of $893.91 million. During the same period last year, the firm earned $2.92 EPS. The firm's revenue was up 16.7% compared to the same quarter last year. On average, equities research analysts forecast that Matson, Inc. will post 16.01 EPS for the current year.

Matson Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 3rd. Stockholders of record on Thursday, August 6th were paid a $0.38 dividend. The ex-dividend date of this dividend was Thursday, August 6th. This is a positive change from Matson's previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a dividend yield of 0.7%. Matson's dividend payout ratio (DPR) is currently 10.16%.

Matson Company Profile

Matson, Inc is a transportation and logistics company that provides ocean shipping and related supply-chain services. Through its Matson Navigation subsidiary, the company transports containerized and non-containerized freight, automobiles, food, household goods, construction materials and other cargo.

Matson operates ocean transportation services connecting the U.S. mainland with Hawaii, Alaska and select destinations in the South Pacific and Micronesia. The company also provides expedited service between China and the United States and maintains logistics operations that support domestic and international freight movement.

Matson Logistics offers intermodal transportation, freight forwarding, warehousing, supply-chain management and other distribution services.

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