Royce & Associates LP Has $18.97 Million Position in Matson, Inc. $MATX

Key Points

• Royce & Associates LP boosted its Matson stake by 59.3% in the fourth quarter, ending with 153,566 shares valued at about $18.97 million.
• Matson reported better-than-expected EPS of $1.85 for the latest quarter, though revenue of $757.8 million came in below estimates and was down 3.1% year over year.
• The company declared a quarterly dividend of $0.36 per share, while analysts currently rate the stock a Moderate Buy with a consensus price target of $181.25.

Royce & Associates LP increased its position in Matson, Inc. (NYSE:MATX - Free Report) by 59.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 153,566 shares of the shipping company's stock after buying an additional 57,175 shares during the period. Royce & Associates LP owned 0.49% of Matson worth $18,973,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in MATX. Federated Hermes Inc. increased its holdings in Matson by 124.3% in the third quarter. Federated Hermes Inc. now owns 249 shares of the shipping company's stock worth $25,000 after buying an additional 138 shares during the last quarter. Danske Bank A S acquired a new position in Matson in the fourth quarter worth approximately $25,000. Headlands Technologies LLC acquired a new position in Matson in the second quarter worth approximately $28,000. Measured Wealth Private Client Group LLC acquired a new position in Matson in the third quarter worth approximately $30,000. Finally, EverSource Wealth Advisors LLC increased its holdings in Matson by 57.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 258 shares of the shipping company's stock worth $32,000 after buying an additional 94 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company's stock.

Insider Buying and Selling

In other news, Director Bradley D. Tilden sold 1,594 shares of the stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $181.85, for a total value of $289,868.90. Following the completion of the sale, the director directly owned 7,555 shares of the company's stock, valued at approximately $1,373,876.75. This represents a 17.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Peter T. Heilmann sold 7,173 shares of the stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $180.19, for a total value of $1,292,502.87. Following the completion of the sale, the executive vice president directly owned 25,506 shares of the company's stock, valued at $4,595,926.14. This represents a 21.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 62,513 shares of company stock valued at $10,635,702 in the last ninety days. Company insiders own 2.51% of the company's stock.

Matson Stock Up 1.5%

Shares of Matson stock opened at $184.61 on Wednesday. The stock has a market capitalization of $5.59 billion, a P/E ratio of 13.56 and a beta of 1.30. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.11. The stock has a 50 day moving average price of $172.03 and a two-hundred day moving average price of $149.40. Matson, Inc. has a 12-month low of $86.97 and a 12-month high of $190.00.

Matson (NYSE:MATX - Get Free Report) last announced its earnings results on Monday, May 4th. The shipping company reported $1.85 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.65 by $0.20. The firm had revenue of $757.80 million during the quarter, compared to analysts' expectations of $777.55 million. Matson had a return on equity of 15.90% and a net margin of 12.92%.The company's revenue was down 3.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.18 earnings per share. Equities analysts expect that Matson, Inc. will post 13.96 earnings per share for the current year.

Matson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 4th. Stockholders of record on Thursday, May 7th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Thursday, May 7th. Matson's dividend payout ratio is currently 10.58%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on MATX shares. JPMorgan Chase & Co. started coverage on Matson in a research report on Monday, April 27th. They set an "overweight" rating and a $230.00 target price for the company. Wall Street Zen cut Matson from a "buy" rating to a "hold" rating in a research report on Sunday, March 15th. Finally, Zacks Research raised Matson to a "hold" rating in a research report on Wednesday, April 29th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $181.25.

Matson Profile

Matson, Inc NYSE: MATX is a U.S.-based provider of ocean transportation and supply chain logistics services with a focus on Pacific trade lanes. The company operates a fleet of container ships that regularly service Hawaii, Alaska, Guam, Micronesia and other Pacific islands, as well as mainland U.S. ports. Matson's ocean transportation segment offers scheduled liner services, expedited shipping options and specialized project cargo handling for industries ranging from retail to heavy machinery.

In addition to its core liner operations, Matson offers ocean transportation services between Asia and the U.S.

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