Perbak Capital Partners LLP Makes New Investment in Matson, Inc. $MATX

Key Points

• Perbak Capital Partners LLP made a new investment in Matson, Inc., acquiring 2,468 shares valued at approximately $316,000.
• Matson reported a quarterly earnings per share (EPS) of $2.92, significantly beating analysts' expectations of $2.18.
• The company announced an increase in its quarterly dividend from $0.34 to $0.36 per share, with a yield of 1.4%.

Perbak Capital Partners LLP bought a new stake in shares of Matson, Inc. (NYSE:MATX - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 2,468 shares of the shipping company's stock, valued at approximately $316,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Ethic Inc. increased its holdings in Matson by 2.7% in the 1st quarter. Ethic Inc. now owns 4,092 shares of the shipping company's stock valued at $537,000 after buying an additional 108 shares during the period. Hohimer Wealth Management LLC increased its holdings in Matson by 5.2% in the 1st quarter. Hohimer Wealth Management LLC now owns 2,192 shares of the shipping company's stock valued at $281,000 after buying an additional 109 shares during the period. Xponance Inc. grew its holdings in shares of Matson by 4.3% in the 1st 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 last quarter. Cerity Partners LLC grew its holdings in shares of Matson by 4.6% in the 1st 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 last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Matson by 11.7% in the 1st quarter. GAMMA Investing LLC now owns 1,373 shares of the shipping company's stock worth $176,000 after purchasing an additional 144 shares during the last quarter. Institutional investors own 84.76% of the company's stock.

Matson Price Performance

NYSE:MATX traded up $1.17 during mid-day trading on Friday, reaching $105.56. 277,114 shares of the company were exchanged, compared to its average volume of 320,277. Matson, Inc. has a 12 month low of $91.75 and a 12 month high of $169.12. The company has a fifty day moving average of $108.07 and a 200 day moving average of $113.83. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.13. The stock has a market cap of $3.36 billion, a PE ratio of 7.14 and a beta of 1.21.

Matson (NYSE:MATX - Get Free Report) last issued 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 net margin of 14.26% and a return on equity of 18.90%. The firm had revenue of $830.50 million for the quarter, compared to analyst estimates of $727.30 million. During the same quarter in the prior year, the firm earned $3.31 EPS. The company's revenue was down 2.0% on a year-over-year basis. On average, research analysts anticipate that Matson, Inc. will post 13.27 EPS for the current fiscal year.

Matson Increases Dividend

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

Insider Transactions at Matson

In other Matson news, SVP Christopher A. Scott sold 1,044 shares of the company's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $109.94, for a total transaction of $114,777.36. Following the transaction, the senior vice president directly owned 13,441 shares in the company, valued at approximately $1,477,703.54. This represents a 7.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.05% of the company's stock.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group reaffirmed a "hold" rating and issued a $115.00 target price on shares of Matson in a report on Friday, August 1st. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Matson has an average rating of "Hold" and an average price target of $131.67.

Matson 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.