Arkadios Wealth Advisors Acquires New Stake in Matson, Inc. (NYSE:MATX)

Arkadios Wealth Advisors bought a new stake in Matson, Inc. (NYSE:MATX) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 3,195 shares of the shipping company’s stock, valued at approximately $418,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. International Assets Investment Management LLC boosted its position in shares of Matson by 10,860.0% during the 4th quarter. International Assets Investment Management LLC now owns 32,880 shares of the shipping company’s stock worth $3,604,000 after purchasing an additional 32,580 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Matson by 35.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,155 shares of the shipping company’s stock valued at $236,000 after acquiring an additional 565 shares during the period. New York State Common Retirement Fund grew its position in Matson by 20.2% in the 4th quarter. New York State Common Retirement Fund now owns 24,891 shares of the shipping company’s stock valued at $2,728,000 after acquiring an additional 4,182 shares in the last quarter. Atria Wealth Solutions Inc. boosted its position in Matson by 84.5% in the 4th quarter. Atria Wealth Solutions Inc. now owns 4,416 shares of the shipping company’s stock valued at $484,000 after buying an additional 2,023 shares during the period. Finally, Natixis Advisors L.P. acquired a new stake in Matson in the fourth quarter valued at approximately $1,663,000. 84.76% of the stock is owned by hedge funds and other institutional investors.

Matson Stock Performance

Matson stock traded up $0.51 during trading hours on Friday, reaching $137.43. 12,040 shares of the stock were exchanged, compared to its average volume of 265,441. Matson, Inc. has a 52-week low of $82.68 and a 52-week high of $138.84. The stock has a market cap of $4.80 billion, a P/E ratio of 16.15 and a beta of 1.09. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.97 and a current ratio of 0.97. The firm’s 50 day moving average is $130.12 and its 200 day moving average is $119.31.

Matson (NYSE:MATX) last announced its quarterly earnings data on Thursday, August 1st. The shipping company reported $3.31 EPS for the quarter, beating analysts’ consensus estimates of $3.05 by $0.26. The firm had revenue of $847.40 million during the quarter, compared to the consensus estimate of $861.68 million. Matson had a net margin of 10.41% and a return on equity of 13.89%. Analysts predict that Matson, Inc. will post 10.1 EPS for the current fiscal year.

Matson Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 1st will be paid a dividend of $0.34 per share. The ex-dividend date is Thursday, August 1st. This is a boost from Matson’s previous quarterly dividend of $0.32. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.99%. Matson’s dividend payout ratio is 16.04%.

Wall Street Analyst Weigh In

Several brokerages have commented on MATX. StockNews.com upgraded shares of Matson from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Stephens lifted their price objective on shares of Matson from $155.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd.

Insider Activity

In related news, CFO Joel M. Wine sold 8,941 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $128.80, for a total value of $1,151,600.80. Following the sale, the chief financial officer now owns 151,329 shares in the company, valued at approximately $19,491,175.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, SVP Richard S. Kinney sold 1,615 shares of the business’s stock in a transaction on Wednesday, August 21st. The stock was sold at an average price of $133.62, for a total value of $215,796.30. Following the completion of the transaction, the senior vice president now directly owns 7,973 shares of the company’s stock, valued at $1,065,352.26. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Joel M. Wine sold 8,941 shares of the business’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $128.80, for a total transaction of $1,151,600.80. Following the completion of the transaction, the chief financial officer now directly owns 151,329 shares of the company’s stock, valued at approximately $19,491,175.20. The disclosure for this sale can be found here. Insiders sold 95,876 shares of company stock worth $12,400,615 in the last 90 days. 2.32% of the stock is currently owned by corporate 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.