Twinbeech Capital LP Purchases Shares of 33,718 Matson, Inc. (NYSE:MATX)

Twinbeech Capital LP bought a new position in Matson, Inc. (NYSE:MATX - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 33,718 shares of the shipping company's stock, valued at approximately $4,547,000. Twinbeech Capital LP owned about 0.10% of Matson at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Nisa Investment Advisors LLC raised its holdings in Matson by 0.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 16,645 shares of the shipping company's stock worth $2,244,000 after acquiring an additional 80 shares during the last quarter. Paradiem LLC lifted its holdings in shares of Matson by 2.2% during the fourth quarter. Paradiem LLC now owns 90,036 shares of the shipping company's stock valued at $12,140,000 after purchasing an additional 1,909 shares in the last quarter. Inspire Investing LLC boosted its position in shares of Matson by 2.9% during the fourth quarter. Inspire Investing LLC now owns 2,972 shares of the shipping company's stock valued at $401,000 after buying an additional 85 shares during the last quarter. Linden Thomas Advisory Services LLC increased its holdings in Matson by 4.4% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 26,824 shares of the shipping company's stock worth $3,617,000 after buying an additional 1,136 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in shares of Matson by 14.9% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 3,651 shares of the shipping company's stock worth $492,000 after acquiring an additional 474 shares during the period. 84.76% of the stock is currently owned by institutional investors.

Matson Price Performance

Shares of NYSE MATX traded down $1.61 during mid-day trading on Monday, reaching $109.18. The company's stock had a trading volume of 241,182 shares, compared to its average volume of 341,191. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.13 and a quick ratio of 1.13. Matson, Inc. has a 52 week low of $91.75 and a 52 week high of $169.12. The stock has a fifty day moving average of $111.52 and a two-hundred day moving average of $131.97. The firm has a market capitalization of $3.56 billion, a PE ratio of 9.08 and a beta of 1.30.

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

Matson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Thursday, May 8th will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.25%. The ex-dividend date of this dividend is Thursday, May 8th. Matson's dividend payout ratio (DPR) is 8.96%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Stifel Nicolaus cut their price target on Matson from $160.00 to $130.00 and set a "hold" rating for the company in a research note on Tuesday, May 6th. Wall Street Zen downgraded shares of Matson from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. Stephens reduced their price objective on Matson from $175.00 to $150.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. Finally, Jefferies Financial Group boosted their price target on Matson from $125.00 to $135.00 and gave the company a "buy" rating in a report on Tuesday, May 13th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Matson presently has a consensus rating of "Hold" and a consensus target price of $138.33.

Insider Activity

In other news, SVP Laura L. Rascon sold 1,700 shares of the stock in a transaction that occurred on Tuesday, May 13th. The stock was sold at an average price of $118.19, for a total value of $200,923.00. Following the sale, the senior vice president now directly owns 14,712 shares in the company, valued at approximately $1,738,811.28. This represents a 10.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Richard S. Kinney sold 1,997 shares of Matson stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $137.11, for a total value of $273,808.67. Following the sale, the senior vice president now owns 8,425 shares of the company's stock, valued at approximately $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 90 days, insiders have sold 11,682 shares of company stock valued at $1,550,551. 2.05% of the stock is currently owned by insiders.

Matson Company Profile

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.