Virtu Financial LLC Grows Stock Holdings in Matson, Inc. (NYSE:MATX)

Key Points

• Virtu Financial LLC significantly increased its stake in Matson, Inc. by 230.6% during the first quarter, now owning 4,985 shares worth approximately $639,000.
• Matson recently increased its quarterly dividend to $0.36 per share, reflecting a positive change from its previous dividend of $0.34.
• Analysts have mixed opinions on Matson's stock; while four analysts rate it as a "hold," one maintains a "buy" rating with an average price target of $131.67.

Virtu Financial LLC grew its holdings in shares of Matson, Inc. (NYSE:MATX - Free Report) by 230.6% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 4,985 shares of the shipping company's stock after purchasing an additional 3,477 shares during the period. Virtu Financial LLC's holdings in Matson were worth $639,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Bessemer Group Inc. lifted its holdings in shares of Matson by 67.7% during the fourth quarter. Bessemer Group Inc. now owns 213 shares of the shipping company's stock valued at $29,000 after purchasing an additional 86 shares during the last quarter. Ameriflex Group Inc. purchased a new position in Matson in the 4th quarter worth approximately $36,000. Covestor Ltd raised its holdings in Matson by 30.4% in the 1st quarter. Covestor Ltd now owns 764 shares of the shipping company's stock worth $98,000 after acquiring an additional 178 shares during the last quarter. Parallel Advisors LLC raised its holdings in Matson by 112.2% in the 1st quarter. Parallel Advisors LLC now owns 783 shares of the shipping company's stock worth $100,000 after acquiring an additional 414 shares during the last quarter. Finally, Curat Global LLC purchased a new position in Matson in the 1st quarter worth approximately $104,000. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Christopher A. Scott sold 1,044 shares of the business's stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $109.94, for a total transaction of $114,777.36. Following the completion of the sale, the senior vice president owned 13,441 shares of the company's stock, valued at $1,477,703.54. The trade was a 7.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Leonard P. Isotoff sold 500 shares of the business's 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 sale, the senior vice president directly owned 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 disclosure for this sale can be found here. Insiders own 2.05% of the company's stock.

Matson Trading Up 4.0%

NYSE:MATX opened at $107.78 on Wednesday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.13. Matson, Inc. has a 12 month low of $91.75 and a 12 month high of $169.12. The company has a market cap of $3.43 billion, a PE ratio of 7.29 and a beta of 1.22. The company has a 50 day simple moving average of $110.68 and a two-hundred day simple moving average of $118.12.

Matson (NYSE:MATX - Get Free Report) last posted its earnings results on Thursday, July 31st. The shipping company reported $2.92 EPS for the quarter, topping analysts' consensus estimates of $2.18 by $0.74. Matson had a net margin of 14.26% and a return on equity of 18.90%. The business had revenue of $830.50 million during the quarter, compared to the consensus estimate of $727.30 million. During the same quarter in the previous year, the firm posted $3.31 EPS. The firm's revenue was down 2.0% on a year-over-year basis. Research analysts forecast that Matson, Inc. will post 13.27 earnings per share for the current year.

Matson Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, August 7th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Thursday, August 7th. This is a positive change from Matson's previous quarterly dividend of $0.34. Matson's payout ratio is presently 9.74%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on MATX shares. Stifel Nicolaus decreased their price objective on shares of Matson from $160.00 to $130.00 and set a "hold" rating for the company in a report on Tuesday, May 6th. Wall Street Zen lowered shares of Matson from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th. Stephens decreased their price objective on shares of Matson from $175.00 to $150.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. Finally, Jefferies Financial Group restated a "hold" rating and issued a $115.00 price objective on shares of Matson in a report on Friday, August 1st. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Matson has a consensus rating of "Hold" and an average price target of $131.67.

Matson 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.

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