Precision Wealth Strategies LLC Takes Position in Matson, Inc. (NYSE:MATX)

Precision Wealth Strategies LLC purchased a new stake in Matson, Inc. (NYSE:MATX - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,415 shares of the shipping company's stock, valued at approximately $310,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Johnson Investment Counsel Inc. grew its position in Matson by 4.5% during the fourth quarter. Johnson Investment Counsel Inc. now owns 1,766 shares of the shipping company's stock valued at $238,000 after purchasing an additional 76 shares in the last quarter. Covestor Ltd raised its holdings in shares of Matson by 16.3% during the fourth quarter. Covestor Ltd now owns 586 shares of the shipping company's stock worth $79,000 after acquiring an additional 82 shares in the last quarter. Bessemer Group Inc. grew its stake in Matson by 67.7% in the fourth quarter. Bessemer Group Inc. now owns 213 shares of the shipping company's stock valued at $29,000 after purchasing an additional 86 shares in the last quarter. Hillsdale Investment Management Inc. increased its holdings in Matson by 0.4% in the fourth quarter. Hillsdale Investment Management Inc. now owns 28,170 shares of the shipping company's stock worth $3,798,000 after buying an additional 100 shares during the last quarter. Finally, Hancock Whitney Corp increased its stake in shares of Matson by 8.2% during the 4th quarter. Hancock Whitney Corp now owns 1,598 shares of the shipping company's stock worth $215,000 after purchasing an additional 121 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company's stock.

Matson Stock Performance

Matson stock traded up $0.61 during trading hours on Thursday, hitting $110.64. The stock had a trading volume of 261,433 shares, compared to its average volume of 347,465. The company has a 50-day moving average of $108.15 and a two-hundred day moving average of $126.67. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.13. Matson, Inc. has a fifty-two week low of $91.75 and a fifty-two week high of $169.12. The company has a market cap of $3.61 billion, a PE ratio of 7.29 and a beta of 1.31.

Matson (NYSE:MATX - Get Free Report) last issued its earnings results on Monday, May 5th. The shipping company reported $2.18 EPS for the quarter, missing analysts' consensus estimates of $2.34 by ($0.16). The firm had revenue of $782.00 million during the quarter, compared to analyst estimates of $818.07 million. Matson had a net margin of 14.72% and a return on equity of 20.02%. The business's revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.04 earnings per share. On average, equities research analysts anticipate that Matson, Inc. will post 13.27 EPS for the current fiscal year.

Matson Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Thursday, May 8th were given a dividend of $0.34 per share. The ex-dividend date of this dividend was Thursday, May 8th. This represents a $1.36 annualized dividend and a dividend yield of 1.23%. Matson's dividend payout ratio (DPR) is presently 8.96%.

Wall Street Analyst Weigh In

MATX has been the topic of several analyst reports. Stephens lowered their price target on Matson from $175.00 to $150.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. Jefferies Financial Group reissued a "buy" rating and set a $135.00 target price on shares of Matson in a research report on Wednesday, June 11th. Wall Street Zen downgraded Matson from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. Finally, Stifel Nicolaus decreased their target price on Matson from $160.00 to $130.00 and set a "hold" rating for the company in a research note on Tuesday, May 6th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $138.33.

Insider Activity at Matson

In other Matson news, Director Bradley D. Tilden acquired 2,752 shares of Matson stock in a transaction on Thursday, May 29th. The shares were bought at an average price of $111.76 per share, with a total value of $307,563.52. Following the completion of the purchase, the director now owns 8,180 shares in the company, valued at $914,196.80. This trade represents a 50.70% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Leonard P. Isotoff sold 500 shares of the company's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $111.47, for a total value of $55,735.00. Following the transaction, the senior vice president now directly owns 5,644 shares in the company, valued at approximately $629,136.68. This represents a 8.14% decrease in their position. The disclosure for this sale can be found here. 2.05% of the stock is owned by insiders.

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.