SG Americas Securities LLC bought a new position in Matson, Inc. (NYSE:MATX - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 3,954 shares of the shipping company's stock, valued at approximately $507,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Bessemer Group Inc. grew its position in shares of Matson by 67.7% during the 4th quarter. Bessemer Group Inc. now owns 213 shares of the shipping company's stock valued at $29,000 after acquiring an additional 86 shares during the period. Aster Capital Management DIFC Ltd purchased a new stake in Matson in the 4th quarter worth approximately $30,000. Ameriflex Group Inc. purchased a new stake in Matson in the 4th quarter worth approximately $36,000. IFP Advisors Inc purchased a new stake in Matson in the 4th quarter worth approximately $40,000. Finally, Covestor Ltd lifted its stake in Matson by 16.3% in the 4th quarter. Covestor Ltd now owns 586 shares of the shipping company's stock worth $79,000 after purchasing an additional 82 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company's stock.
Matson Trading Up 1.6%
Shares of MATX stock traded up $1.74 on Monday, hitting $111.60. 234,110 shares of the company's stock traded hands, compared to its average volume of 346,048. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.86 and a current ratio of 0.86. Matson, Inc. has a one year low of $91.75 and a one year high of $169.12. The company's fifty day simple moving average is $108.66 and its 200 day simple moving average is $125.42. The stock has a market capitalization of $3.64 billion, a price-to-earnings ratio of 7.35 and a beta of 1.31.
Matson (NYSE:MATX - Get Free Report) last released its earnings results on Monday, May 5th. The shipping company reported $2.18 EPS for the quarter, missing the consensus estimate of $2.34 by ($0.16). Matson had a net margin of 14.72% and a return on equity of 20.02%. The business had revenue of $782.00 million for the quarter, compared to the consensus estimate of $818.07 million. During the same period in the prior year, the business posted $1.04 EPS. Matson's revenue for the quarter was up 8.3% on a year-over-year basis. Equities analysts forecast that Matson, Inc. will post 13.27 EPS for the current year.
Matson Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Thursday, May 8th were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend was Thursday, May 8th. Matson's payout ratio is 8.96%.
Analyst Upgrades and Downgrades
Several analysts have issued reports on the stock. Jefferies Financial Group reiterated a "buy" rating and issued a $135.00 target price on shares of Matson in a research note on Wednesday, June 11th. Stephens lowered their price objective on shares of Matson from $175.00 to $150.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. Stifel Nicolaus lowered their price objective on shares of Matson from $160.00 to $130.00 and set a "hold" rating on the stock in a research report on Tuesday, May 6th. Finally, Wall Street Zen cut shares of Matson from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Matson currently has an average rating of "Hold" and a consensus target price of $138.33.
Check Out Our Latest Report on MATX
Insider Buying and Selling at Matson
In other news, SVP Leonard P. Isotoff sold 500 shares of Matson stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $111.47, for a total transaction of $55,735.00. Following the sale, the senior vice president now owns 5,644 shares of the company's stock, valued at approximately $629,136.68. The trade was a 8.14% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Laura L. Rascon sold 1,700 shares of the business's stock in a transaction dated Tuesday, May 13th. The stock was sold at an average price of $118.19, for a total transaction of $200,923.00. Following the sale, the senior vice president now directly owns 14,712 shares in the company, valued at $1,738,811.28. The trade was a 10.36% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.05% of the company's stock.
About Matson
(
Free Report)
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.
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