WINTON GROUP Ltd Buys 25,691 Shares of Matson, Inc. $MATX

WINTON GROUP Ltd boosted its stake in shares of Matson, Inc. (NYSE:MATX - Free Report) by 269.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 35,230 shares of the shipping company's stock after buying an additional 25,691 shares during the quarter. WINTON GROUP Ltd owned approximately 0.12% of Matson worth $6,772,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Squarepoint Ops LLC lifted its stake in shares of Matson by 247.3% in the second quarter. Squarepoint Ops LLC now owns 21,332 shares of the shipping company's stock worth $4,101,000 after acquiring an additional 15,189 shares during the period. Baird Financial Group Inc. raised its holdings in Matson by 16.1% during the 2nd quarter. Baird Financial Group Inc. now owns 112,722 shares of the shipping company's stock worth $21,669,000 after purchasing an additional 15,657 shares during the last quarter. Nykredit A S acquired a new position in shares of Matson in the 2nd quarter worth approximately $142,000. California State Teachers Retirement System boosted its stake in shares of Matson by 14,734.1% in the 2nd quarter. California State Teachers Retirement System now owns 1,706,810 shares of the shipping company's stock valued at $328,100,000 after purchasing an additional 1,695,304 shares during the last quarter. Finally, Compass Financial Management LLC acquired a new stake in shares of Matson during the second quarter worth $377,000. Institutional investors and hedge funds own 84.76% of the company's stock.

Insiders Place Their Bets

In other Matson news, SVP Leonard P. Isotoff sold 1,250 shares of the firm's stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $208.30, for a total value of $260,375.00. Following the completion of the sale, the senior vice president owned 6,527 shares of the company's stock, valued at approximately $1,359,574.10. This trade represents a 16.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Vic S. Angoco, Jr. sold 2,293 shares of the business's stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $222.76, for a total value of $510,788.68. Following the sale, the executive vice president owned 12,507 shares of the company's stock, valued at approximately $2,786,059.32. This represents a 15.49% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 12,462 shares of company stock worth $2,695,832 over the last three months. Insiders own 2.51% of the company's stock.

Matson Stock Up 1.7%

Shares of NYSE MATX opened at $227.04 on Thursday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.11. The firm has a market cap of $6.79 billion, a PE ratio of 15.18 and a beta of 1.26. The company's fifty day simple moving average is $213.74 and its 200 day simple moving average is $189.29. Matson, Inc. has a 12-month low of $86.97 and a 12-month high of $230.74.

Matson (NYSE:MATX - Get Free Report) last posted its quarterly earnings results on Monday, August 3rd. The shipping company reported $4.27 earnings per share for the quarter, beating the consensus estimate of $3.79 by $0.48. Matson had a net margin of 13.41% and a return on equity of 16.94%. The firm had revenue of $969.40 million during the quarter, compared to the consensus estimate of $893.91 million. During the same period in the previous year, the firm posted $2.92 earnings per share. The business's revenue was up 16.7% compared to the same quarter last year. As a group, sell-side analysts forecast that Matson, Inc. will post 16.01 earnings per share for the current fiscal year.

Matson Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 3rd. Investors of record on Thursday, August 6th were given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Thursday, August 6th. This is a positive change from Matson's previous quarterly dividend of $0.36. Matson's dividend payout ratio is presently 10.16%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MATX. JPMorgan Chase & Co. boosted their target price on shares of Matson from $230.00 to $270.00 and gave the company an "overweight" rating in a report on Tuesday, August 4th. Wall Street Zen downgraded Matson from a "buy" rating to a "hold" rating in a research note on Saturday, August 22nd. Weiss Ratings upgraded Matson from a "hold (c)" rating to a "buy (b-)" rating in a research report on Thursday, August 6th. Stephens upped their target price on Matson from $240.00 to $260.00 and gave the company an "overweight" rating in a research report on Tuesday, August 4th. Finally, Zacks Research raised Matson from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 6th. One analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company. Based on data from MarketBeat.com, Matson presently has an average rating of "Buy" and an average target price of $232.33.

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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