Matson, Inc. (NYSE:MATX) Shares Bought by Edgestream Partners L.P.

Edgestream Partners L.P. grew its position in shares of Matson, Inc. (NYSE:MATX) by 70.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,071 shares of the shipping company’s stock after acquiring an additional 2,090 shares during the quarter. Edgestream Partners L.P.’s holdings in Matson were worth $570,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Matson by 5.7% in the first quarter. Vanguard Group Inc. now owns 3,984,076 shares of the shipping company’s stock valued at $447,810,000 after buying an additional 215,452 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Matson by 1.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,658,613 shares of the shipping company’s stock valued at $291,386,000 after buying an additional 43,846 shares in the last quarter. First Trust Advisors LP grew its stake in shares of Matson by 25.5% in the fourth quarter. First Trust Advisors LP now owns 293,163 shares of the shipping company’s stock valued at $32,131,000 after buying an additional 59,652 shares in the last quarter. LSV Asset Management grew its stake in shares of Matson by 18.1% in the first quarter. LSV Asset Management now owns 282,763 shares of the shipping company’s stock valued at $31,783,000 after buying an additional 43,324 shares in the last quarter. Finally, Jupiter Asset Management Ltd. grew its stake in shares of Matson by 3,509.3% in the first quarter. Jupiter Asset Management Ltd. now owns 188,910 shares of the shipping company’s stock valued at $21,233,000 after buying an additional 183,676 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Matson

In other news, CFO Joel M. Wine sold 12,821 shares of the business’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $123.24, for a total transaction of $1,580,060.04. Following the sale, the chief financial officer now directly owns 126,418 shares of the company’s stock, valued at $15,579,754.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Joel M. Wine sold 12,821 shares of the business’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $123.24, for a total transaction of $1,580,060.04. Following the sale, the chief financial officer now directly owns 126,418 shares of the company’s stock, valued at $15,579,754.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Joel M. Wine sold 12,090 shares of the business’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $129.73, for a total value of $1,568,435.70. Following the sale, the chief financial officer now directly owns 139,239 shares in the company, valued at $18,063,475.47. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 47,180 shares of company stock valued at $5,943,909. Corporate insiders own 2.32% of the company’s stock.

Matson Stock Performance

MATX traded up $1.57 during trading hours on Wednesday, hitting $130.39. The company’s stock had a trading volume of 47,591 shares, compared to its average volume of 265,179. Matson, Inc. has a fifty-two week low of $82.68 and a fifty-two week high of $133.88. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $4.56 billion, a PE ratio of 15.19 and a beta of 1.09. The company has a 50-day simple moving average of $124.26 and a 200 day simple moving average of $116.16.

Matson (NYSE:MATX) last posted its quarterly earnings data on Tuesday, April 30th. The shipping company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.05. Matson had a return on equity of 12.66% and a net margin of 9.61%. The company had revenue of $722.10 million for the quarter, compared to the consensus estimate of $730.44 million. During the same quarter in the previous year, the business earned $0.94 EPS. The company’s quarterly revenue was up 2.5% compared to the same quarter last year. As a group, sell-side analysts expect that Matson, Inc. will post 10.1 EPS for the current year.

Matson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 1st will be paid a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date is Thursday, August 1st. This is an increase from Matson’s previous quarterly dividend of $0.32. Matson’s payout ratio is currently 15.09%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. StockNews.com upgraded Matson from a “hold” rating to a “buy” rating in a research report on Wednesday, July 3rd. Stephens reiterated an “overweight” rating and set a $135.00 price target on shares of Matson in a research report on Friday, May 24th. Finally, Stifel Nicolaus raised their target price on Matson from $109.00 to $111.00 and gave the company a “hold” rating in a research report on Wednesday, May 1st.

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.