SG Americas Securities LLC Increases Position in Matson, Inc. $MATX

Key Points

• SG Americas Securities LLC boosted its stake in Matson by 887.1% in the first quarter, ending with 57,586 shares worth about $9.44 million.
• Matson reported Q1 EPS of $1.85, beating analyst estimates, though revenue of $757.8 million came in below expectations and was down 3.1% year over year.
• The company raised its quarterly dividend to $0.38 per share from $0.36, while analysts currently rate the stock a Moderate Buy with a consensus target price of $181.25.

SG Americas Securities LLC increased its position in shares of Matson, Inc. (NYSE:MATX - Free Report) by 887.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 57,586 shares of the shipping company's stock after acquiring an additional 51,752 shares during the quarter. SG Americas Securities LLC owned approximately 0.19% of Matson worth $9,441,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Matson by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 3,671,519 shares of the shipping company's stock worth $453,616,000 after purchasing an additional 21,516 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Matson by 1.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,982,793 shares of the shipping company's stock valued at $244,975,000 after purchasing an additional 21,463 shares during the period. American Century Companies Inc. increased its stake in Matson by 2.9% in the third quarter. American Century Companies Inc. now owns 1,250,636 shares of the shipping company's stock valued at $123,300,000 after purchasing an additional 35,229 shares during the last quarter. Ameriprise Financial Inc. increased its stake in Matson by 27.9% in the second quarter. Ameriprise Financial Inc. now owns 590,763 shares of the shipping company's stock valued at $65,770,000 after purchasing an additional 128,994 shares during the last quarter. Finally, Millennium Management LLC lifted its position in Matson by 144.9% during the third quarter. Millennium Management LLC now owns 455,133 shares of the shipping company's stock worth $44,872,000 after buying an additional 269,310 shares during the period. 84.76% of the stock is owned by hedge funds and other institutional investors.

Matson Trading Down 1.0%

Shares of MATX opened at $194.40 on Friday. Matson, Inc. has a twelve month low of $86.97 and a twelve month high of $203.08. The firm has a market capitalization of $5.88 billion, a P/E ratio of 14.28 and a beta of 1.29. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.11. The stock's fifty day simple moving average is $184.96 and its 200 day simple moving average is $162.52.

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

Matson Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Thursday, August 6th will be given a dividend of $0.38 per share. This is a boost from Matson's previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Thursday, August 6th. This represents a $1.52 dividend on an annualized basis and a yield of 0.8%. Matson's dividend payout ratio is currently 10.58%.

Insider Transactions at Matson

In other news, SVP Christopher A. Scott sold 3,305 shares of the stock in a transaction on Friday, May 8th. The shares were sold at an average price of $180.14, for a total value of $595,362.70. Following the completion of the sale, the senior vice president owned 11,228 shares of the company's stock, valued at $2,022,611.92. This represents a 22.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Peter T. Heilmann sold 7,173 shares of the firm's stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $180.19, for a total transaction of $1,292,502.87. Following the completion of the transaction, the executive vice president directly owned 25,506 shares in the company, valued at approximately $4,595,926.14. This represents a 21.95% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 23,963 shares of company stock valued at $4,349,268 in the last three months. 2.51% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

MATX has been the subject of several recent analyst reports. Weiss Ratings restated a "hold (c)" rating on shares of Matson in a report on Friday, May 29th. JPMorgan Chase & Co. assumed coverage on shares of Matson in a report on Monday, April 27th. They set an "overweight" rating and a $230.00 price objective on the stock. Zacks Research upgraded shares of Matson to a "hold" rating in a report on Wednesday, April 29th. Finally, Wall Street Zen cut shares of Matson from a "buy" rating to a "hold" rating in a research report on Sunday, March 15th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $181.25.

About Matson

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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