Matson, Inc. (NYSE:MATX) Stock Holdings Lifted by Summit Global Investments

Summit Global Investments lifted its holdings in Matson, Inc. (NYSE:MATX - Free Report) by 50.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,234 shares of the shipping company's stock after purchasing an additional 3,103 shares during the quarter. Summit Global Investments' holdings in Matson were worth $1,184,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of MATX. Bessemer Group Inc. raised its holdings in Matson by 67.7% during the fourth quarter. Bessemer Group Inc. now owns 213 shares of the shipping company's stock worth $29,000 after purchasing an additional 86 shares in the last quarter. Aster Capital Management DIFC Ltd acquired a new stake in Matson in the fourth quarter worth approximately $30,000. Ameriflex Group Inc. acquired a new stake in Matson in the fourth quarter worth approximately $36,000. IFP Advisors Inc acquired a new stake in Matson in the fourth quarter worth approximately $40,000. Finally, Covestor Ltd lifted its position in Matson by 16.3% in the fourth quarter. Covestor Ltd now owns 586 shares of the shipping company's stock worth $79,000 after purchasing an additional 82 shares during the period. 84.76% of the stock is owned by institutional investors and hedge funds.

Matson Trading Down 0.1%

MATX stock traded down $0.14 during mid-day trading on Wednesday, reaching $113.29. 126,385 shares of the stock traded hands, compared to its average volume of 340,951. Matson, Inc. has a 52-week low of $91.75 and a 52-week high of $169.12. The stock's fifty day moving average is $108.85 and its 200-day moving average is $129.62. The company has a market cap of $3.70 billion, a P/E ratio of 9.43 and a beta of 1.30. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.14.

Matson (NYSE:MATX - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The shipping company reported $2.18 EPS for the quarter, missing analysts' consensus estimates of $2.34 by ($0.16). Matson had a return on equity of 16.89% and a net margin of 12.37%. The firm had revenue of $782.00 million during the quarter, compared to analyst estimates of $818.07 million. During the same period in the prior year, the business posted $1.04 EPS. The company's revenue for the quarter was up 8.3% on a year-over-year basis. As a group, sell-side analysts expect that Matson, Inc. will post 13.27 earnings per share for the current year.

Matson Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Thursday, May 8th will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend is Thursday, May 8th. Matson's payout ratio is 8.96%.

Insider Buying and Selling

In other Matson news, SVP Leonard P. Isotoff sold 500 shares of Matson stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $111.47, for a total transaction of $55,735.00. Following the completion of the sale, the senior vice president now owns 5,644 shares of the company's stock, valued at $629,136.68. This trade represents a 8.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Richard S. Kinney sold 1,997 shares of the company's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $137.11, for a total transaction of $273,808.67. Following the completion of the transaction, the senior vice president now directly owns 8,425 shares in the company, valued at $1,155,151.75. This trade represents a 19.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,182 shares of company stock valued at $1,606,286. Corporate insiders own 2.05% of the company's stock.

Wall Street Analysts Forecast Growth

MATX has been the topic of several research reports. Jefferies Financial Group boosted their price target on shares of Matson from $125.00 to $135.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. Stifel Nicolaus dropped their target price on shares of Matson from $160.00 to $130.00 and set a "hold" rating on the stock in a report on Tuesday, May 6th. Wall Street Zen lowered shares of Matson from a "buy" rating to a "hold" rating in a research note on Wednesday, May 7th. Finally, Stephens decreased their price target 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. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $138.33.

About Matson

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.