Tudor Investment Corp ET AL Has $5.70 Million Stake in Matson, Inc. $MATX

Key Points

• Tudor Investment Corp boosted its stake in Matson by 2,944.7% to 57,850 shares, worth about $5.70 million and representing roughly 0.19% of the company.
• Insiders have sold a total of 42,550 shares (~$7.03 million) in the last 90 days — including EVP Peter T. Heilmann’s sale of 13,000 shares — leaving insiders with just 2.51% ownership.
• Matson topped estimates with Q4 EPS of $4.60 vs. $3.69 expected and revenue of $851.9M, and it pays a quarterly dividend of $0.36 (annualized $1.44, ~0.8% yield).

Tudor Investment Corp ET AL grew its holdings in Matson, Inc. (NYSE:MATX - Free Report) by 2,944.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 57,850 shares of the shipping company's stock after purchasing an additional 55,950 shares during the period. Tudor Investment Corp ET AL owned about 0.19% of Matson worth $5,703,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Federated Hermes Inc. increased its holdings in shares of Matson by 124.3% in the 3rd quarter. Federated Hermes Inc. now owns 249 shares of the shipping company's stock valued at $25,000 after purchasing an additional 138 shares during the period. Headlands Technologies LLC acquired a new position in shares of Matson in the 2nd quarter valued at about $28,000. Measured Wealth Private Client Group LLC acquired a new position in shares of Matson in the 3rd quarter valued at about $30,000. Ameriflex Group Inc. increased its holdings in shares of Matson by 100.8% in the 3rd quarter. Ameriflex Group Inc. now owns 510 shares of the shipping company's stock valued at $50,000 after purchasing an additional 256 shares during the period. Finally, State of Wyoming increased its holdings in shares of Matson by 482.8% in the 3rd quarter. State of Wyoming now owns 542 shares of the shipping company's stock valued at $53,000 after purchasing an additional 449 shares during the period. Institutional investors and hedge funds own 84.76% of the company's stock.

Insider Activity at Matson

In other Matson news, EVP Peter T. Heilmann sold 13,000 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $165.46, for a total transaction of $2,150,980.00. Following the transaction, the executive vice president owned 32,679 shares in the company, valued at $5,407,067.34. This trade represents a 28.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Kevin L. Stuck sold 2,524 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $167.08, for a total value of $421,709.92. Following the transaction, the vice president owned 2,331 shares in the company, valued at approximately $389,463.48. This trade represents a 51.99% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 42,550 shares of company stock valued at $7,034,602. 2.51% of the stock is owned by company insiders.

Matson Trading Up 2.6%

NYSE:MATX opened at $172.43 on Thursday. The stock's 50 day moving average price is $162.00 and its 200 day moving average price is $131.13. Matson, Inc. has a 52 week low of $86.97 and a 52 week high of $177.51. The company has a market capitalization of $5.25 billion, a P/E ratio of 12.37 and a beta of 1.33. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.89 and a current ratio of 0.89.

Matson (NYSE:MATX - Get Free Report) last released its quarterly earnings data on Tuesday, February 24th. The shipping company reported $4.60 EPS for the quarter, topping analysts' consensus estimates of $3.69 by $0.91. Matson had a return on equity of 16.63% and a net margin of 13.30%.The firm had revenue of $851.90 million for the quarter, compared to the consensus estimate of $847.30 million. During the same quarter in the prior year, the company posted $3.80 earnings per share. The firm's revenue was down 4.3% on a year-over-year basis. On average, research analysts forecast that Matson, Inc. will post 13.27 EPS for the current fiscal year.

Matson Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 5th. Shareholders of record on Thursday, February 5th were issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 0.8%. The ex-dividend date was Thursday, February 5th. Matson's dividend payout ratio (DPR) is 10.33%.

Analyst Ratings Changes

A number of equities analysts recently commented on MATX shares. Wolfe Research restated an "outperform" rating and issued a $167.00 price objective on shares of Matson in a report on Thursday, January 8th. Wall Street Zen downgraded Matson from a "buy" rating to a "hold" rating in a report on Sunday, March 15th. Weiss Ratings restated a "hold (c)" rating on shares of Matson in a report on Monday, December 29th. Finally, Stephens increased their price objective on Matson from $190.00 to $213.00 and gave the stock an "overweight" rating in a report on Wednesday, January 21st. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $156.25.

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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