10,274 Shares in Matson, Inc. (NYSE:MATX) Bought by XTX Topco Ltd

Key Points

• XTX Topco Ltd has acquired a new stake in Matson, Inc., purchasing 10,274 shares worth approximately $1,317,000 during the first quarter.
• Matson reported a 2.92 EPS for the last quarter, surpassing estimates, and has declared a quarterly dividend increase to $0.36 per share, up from $0.34.
• Institutional investors and hedge funds now own 84.76% of Matson's stock, indicating strong institutional confidence in the company.

XTX Topco Ltd purchased a new position in Matson, Inc. (NYSE:MATX - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,274 shares of the shipping company's stock, valued at approximately $1,317,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Bessemer Group Inc. increased its stake in Matson by 67.7% in 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 during the period. Aster Capital Management DIFC Ltd bought a new position in shares of Matson in the fourth quarter worth about $30,000. Ameriflex Group Inc. purchased a new position in Matson in the 4th quarter worth about $36,000. Covestor Ltd lifted its holdings in Matson by 16.3% during the 4th quarter. Covestor Ltd now owns 586 shares of the shipping company's stock valued at $79,000 after buying an additional 82 shares in the last quarter. Finally, Parallel Advisors LLC boosted its position in Matson by 112.2% in the 1st quarter. Parallel Advisors LLC now owns 783 shares of the shipping company's stock valued at $100,000 after buying an additional 414 shares during the period. 84.76% of the stock is owned by institutional investors.

Matson Stock Up 1.5%

Shares of MATX traded up $1.65 during mid-day trading on Friday, hitting $108.43. The company's stock had a trading volume of 1,005,269 shares, compared to its average volume of 357,482. The company's 50-day moving average is $111.07 and its 200-day moving average is $119.93. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $3.54 billion, a price-to-earnings ratio of 7.33 and a beta of 1.22. Matson, Inc. has a 52-week low of $91.75 and a 52-week high of $169.12.

Matson (NYSE:MATX - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The shipping company reported $2.92 earnings per share for the quarter, beating 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 for the quarter, compared to analysts' expectations of $727.30 million. During the same period last year, the business earned $3.31 EPS. The company's revenue was down 2.0% compared to the same quarter last year. On average, equities research analysts forecast that Matson, Inc. will post 13.27 EPS for the current fiscal year.

Matson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 4th. Shareholders of record on Thursday, August 7th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Thursday, August 7th. This is a positive change from Matson's previous quarterly dividend of $0.34. Matson's dividend payout ratio (DPR) is currently 8.96%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on MATX shares. Jefferies Financial Group restated a "hold" rating and issued a $115.00 target price on shares of Matson in a research note on Friday. Stifel Nicolaus dropped their price objective on Matson from $160.00 to $130.00 and set a "hold" rating on the stock in a research note on Tuesday, May 6th. Wall Street Zen lowered Matson from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. Finally, Stephens dropped their price target on Matson from $175.00 to $150.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $131.67.

Insider Buying and Selling at Matson

In other Matson news, Director Bradley D. Tilden purchased 2,752 shares of Matson stock in a transaction on Thursday, May 29th. The stock was bought at an average cost of $111.76 per share, with a total value of $307,563.52. Following the transaction, the director owned 8,180 shares of the company's stock, valued at $914,196.80. This represents a 50.70% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Laura L. Rascon sold 1,700 shares of the business's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $118.19, for a total transaction of $200,923.00. Following the transaction, the senior vice president owned 14,712 shares of the company's stock, valued at $1,738,811.28. This represents a 10.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.05% of the stock is currently owned by company 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.