Crossmark Global Holdings Inc. Grows Stake in Matson, Inc. (NYSE:MATX)

Crossmark Global Holdings Inc. lifted its stake in Matson, Inc. (NYSE:MATX) by 16.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,787 shares of the shipping company’s stock after buying an additional 391 shares during the period. Crossmark Global Holdings Inc.’s holdings in Matson were worth $397,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of MATX. PAX Financial Group LLC acquired a new stake in Matson in the first quarter valued at approximately $605,000. Caxton Associates LP increased its stake in Matson by 283.4% during the 1st quarter. Caxton Associates LP now owns 8,232 shares of the shipping company’s stock worth $925,000 after buying an additional 6,085 shares during the period. Artemis Investment Management LLP lifted its holdings in Matson by 31.5% in the 2nd quarter. Artemis Investment Management LLP now owns 75,070 shares of the shipping company’s stock worth $9,832,000 after buying an additional 17,992 shares in the last quarter. Magnetar Financial LLC purchased a new position in Matson in the 1st quarter valued at about $542,000. Finally, Edgestream Partners L.P. grew its stake in shares of Matson by 98.1% during the second quarter. Edgestream Partners L.P. now owns 10,044 shares of the shipping company’s stock valued at $1,315,000 after acquiring an additional 4,973 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Matthew J. Cox sold 7,500 shares of the business’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $137.17, for a total transaction of $1,028,775.00. Following the completion of the transaction, the chief executive officer now owns 215,397 shares of the company’s stock, valued at approximately $29,546,006.49. The trade was a 3.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP John P. Lauer sold 3,354 shares of the stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $132.48, for a total transaction of $444,337.92. Following the completion of the sale, the executive vice president now directly owns 27,098 shares in the company, valued at approximately $3,589,943.04. This trade represents a 11.01 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 29,614 shares of company stock valued at $4,338,094. Company insiders own 2.32% of the company’s stock.

Matson Stock Performance

Shares of MATX stock opened at $160.65 on Monday. The stock has a market capitalization of $5.34 billion, a price-to-earnings ratio of 13.37 and a beta of 1.06. Matson, Inc. has a one year low of $91.98 and a one year high of $169.12. The company’s 50-day simple moving average is $141.52 and its 200-day simple moving average is $131.26. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.13 and a current ratio of 1.13.

Matson (NYSE:MATX) last issued its earnings results on Wednesday, October 30th. The shipping company reported $5.89 EPS for the quarter, topping the consensus estimate of $4.98 by $0.91. The company had revenue of $962.00 million during the quarter, compared to analyst estimates of $965.73 million. Matson had a return on equity of 16.89% and a net margin of 12.37%. The business’s revenue was up 16.3% on a year-over-year basis. During the same quarter last year, the firm earned $3.40 EPS. Equities analysts anticipate that Matson, Inc. will post 13.19 earnings per share for the current fiscal year.

Matson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 7th will be paid a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.36 annualized dividend and a yield of 0.85%. Matson’s payout ratio is 11.31%.

Analyst Ratings Changes

Several research firms recently commented on MATX. Stephens boosted their price target on Matson from $155.00 to $160.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. StockNews.com lowered Matson from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 6th.

Matson 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.