Perbak Capital Partners LLP Invests $316,000 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 acquired a new stake in Matson, Inc. (NYSE:MATX - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,468 shares of the shipping company's stock, valued at approximately $316,000.

Several other large investors have also bought and sold shares of the business. Ethic Inc. lifted its holdings in Matson by 2.7% in the first 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 lifted its holdings in Matson by 5.2% in the first 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. lifted its holdings in Matson by 4.3% in the first quarter. Xponance Inc. now owns 2,767 shares of the shipping company's stock valued at $355,000 after buying an additional 113 shares during the period. Cerity Partners LLC lifted its holdings in Matson by 4.6% in the first quarter. Cerity Partners LLC now owns 2,637 shares of the shipping company's stock valued at $338,000 after buying an additional 117 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in Matson by 11.7% in the first quarter. GAMMA Investing LLC now owns 1,373 shares of the shipping company's stock valued at $176,000 after buying an additional 144 shares during the period. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Matson Stock Down 0.6%

Shares of MATX stock traded down $0.60 during trading hours on Monday, hitting $104.97. 56,983 shares of the company were exchanged, compared to its average volume of 402,759. The business has a 50 day moving average of $108.07 and a two-hundred day moving average of $113.42. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.13. Matson, Inc. has a 52 week low of $91.75 and a 52 week high of $169.12. The company has a market capitalization of $3.34 billion, a PE ratio of 7.10 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.18 by $0.74. Matson had a net margin of 14.26% and a return on equity of 18.90%. The company had revenue of $830.50 million during the quarter, compared to the consensus estimate of $727.30 million. During the same quarter in the prior year, the firm earned $3.31 earnings per share. The firm's revenue was down 2.0% compared to the same quarter last year. Analysts anticipate that Matson, Inc. will post 13.27 earnings per share for the current fiscal year.

Matson Increases Dividend

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

Insider Transactions at Matson

In other Matson news, SVP Christopher A. Scott sold 1,044 shares of Matson stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $109.94, for a total value of $114,777.36. Following the sale, the senior vice president directly owned 13,441 shares in the company, valued at approximately $1,477,703.54. The trade was a 7.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.05% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group restated a "hold" rating and issued a $115.00 price objective on shares of Matson in a report on Friday, August 1st. One investment analyst has rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, Matson currently 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.