Robeco Institutional Asset Management B.V. Buys 54,501 Shares of Matson, Inc. $MATX

Robeco Institutional Asset Management B.V. bought a new position in Matson, Inc. (NYSE:MATX) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 54,501 shares of the shipping company’s stock, valued at approximately $11,971,000.

Other large investors have also recently made changes to their positions in the company. Genesee Capital Advisors LLC purchased a new position in shares of Matson during the 3rd quarter worth about $282,000. Retirement Planning Group LLC grew its holdings in Matson by 12,239.4% during the 3rd quarter. Retirement Planning Group LLC now owns 233,584 shares of the shipping company’s stock valued at $51,304,000 after purchasing an additional 231,691 shares during the last quarter. Gemmer Asset Management LLC bought a new position in Matson during the 3rd quarter valued at about $225,000. USA Financial Formulas purchased a new stake in Matson in the 3rd quarter worth about $50,000. Finally, Ellsworth Advisors LLC raised its position in Matson by 21.2% in the 3rd quarter. Ellsworth Advisors LLC now owns 1,967 shares of the shipping company’s stock worth $432,000 after purchasing an additional 344 shares during the period. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Peter T. Heilmann sold 5,000 shares of the stock in a transaction that occurred on Wednesday, August 19th. The stock was sold at an average price of $220.15, for a total value of $1,100,750.00. Following the transaction, the executive vice president owned 20,506 shares of the company’s stock, valued at $4,514,395.90. This represents a 19.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Kuuhaku T. Park sold 1,000 shares of the firm’s stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $208.49, for a total value of $208,490.00. Following the transaction, the senior vice president owned 9,984 shares in the company, valued at $2,081,564.16. The trade was a 9.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 12,462 shares of company stock valued at $2,695,832. Insiders own 2.51% of the company’s stock.

Matson Trading Up 0.4%

Shares of MATX opened at $228.35 on Friday. Matson, Inc. has a 1-year low of $93.12 and a 1-year high of $240.87. The company has a 50-day moving average of $227.08 and a 200 day moving average of $204.52. The firm has a market capitalization of $6.83 billion, a price-to-earnings ratio of 15.26 and a beta of 1.30. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.89 and a quick ratio of 0.89.

Matson (NYSE:MATX) last released its quarterly earnings data on Monday, August 3rd. The shipping company reported $4.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.79 by $0.48. The company had revenue of $969.40 million during the quarter, compared to analysts’ expectations of $893.91 million. Matson had a net margin of 13.41% and a return on equity of 16.94%. The firm’s quarterly revenue was up 16.7% on a year-over-year basis. During the same period in the previous year, the company earned $2.92 EPS. On average, research analysts expect that Matson, Inc. will post 16.01 EPS for the current year.

Matson Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 3rd. Stockholders of record on Thursday, November 5th will be paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Thursday, November 5th. Matson’s payout ratio is currently 10.16%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. JPMorgan Chase & Co. raised their price objective on shares of Matson from $270.00 to $310.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 13th. Stephens upped their target price on Matson from $240.00 to $260.00 and gave the company an “overweight” rating in a research note on Tuesday, August 4th. Weiss Ratings raised Matson from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. Zacks Research downgraded Matson from a “strong-buy” rating to a “hold” rating in a report on Monday, October 5th. Finally, Freedom Broker assumed coverage on Matson in a research note on Wednesday, September 30th. They set a “buy” rating and a $260.00 price target for the company. Five investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Matson presently has an average rating of “Moderate Buy” and an average price target of $249.25.

About Matson

Matson, Inc is a transportation and logistics company that provides ocean shipping and supply chain services. Through its Matson Navigation subsidiary, the company transports containerized and bulk cargo, automobiles and other goods between the U.S. mainland and Hawaii, Alaska, Guam, Micronesia and selected South Pacific destinations. Matson also operates services linking the U.S. West Coast with China, Japan and South Korea.

The company serves a broad range of customers, including retailers, manufacturers, wholesalers, government agencies and individual consumers.