J. Goldman & Co LP Purchases Shares of 46,710 Matson, Inc. $MATX

J. Goldman & Co LP acquired a new stake in shares of Matson, Inc. (NYSE:MATX) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 46,710 shares of the shipping company’s stock, valued at approximately $8,979,000. J. Goldman & Co LP owned 0.16% of Matson as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of MATX. GAMMA Investing LLC grew its holdings in shares of Matson by 3.4% during the 2nd quarter. GAMMA Investing LLC now owns 2,402 shares of the shipping company’s stock valued at $462,000 after purchasing an additional 80 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Matson by 57.3% during the fourth quarter. EverSource Wealth Advisors LLC now owns 258 shares of the shipping company’s stock valued at $32,000 after buying an additional 94 shares during the period. Bessemer Group Inc. raised its holdings in shares of Matson by 0.3% during the first quarter. Bessemer Group Inc. now owns 30,624 shares of the shipping company’s stock valued at $5,021,000 after acquiring an additional 104 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Matson by 0.7% in the 1st quarter. The Manufacturers Life Insurance Company now owns 14,749 shares of the shipping company’s stock worth $2,418,000 after purchasing an additional 107 shares in the last quarter. Finally, Allworth Financial LP bought a new position in Matson in the second quarter worth about $28,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Insider Buying and Selling

In other news, EVP Peter T. Heilmann sold 5,000 shares of the business’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $220.15, for a total transaction of $1,100,750.00. Following the sale, the executive vice president directly owned 20,506 shares of the company’s stock, valued at $4,514,395.90. The trade was a 19.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Leonard P. Isotoff sold 1,250 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $208.30, for a total value of $260,375.00. Following the completion of the sale, the senior vice president owned 6,527 shares in the company, valued at approximately $1,359,574.10. This represents a 16.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 16,462 shares of company stock worth $3,444,000 over the last ninety days. Company insiders own 2.51% of the company’s stock.

Matson Stock Performance

Matson stock opened at $222.50 on Wednesday. Matson, Inc. has a 1-year low of $86.97 and a 1-year high of $230.74. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a market capitalization of $6.65 billion, a P/E ratio of 14.87 and a beta of 1.27. The company’s 50-day moving average is $207.56 and its 200 day moving average is $184.59.

Matson (NYSE:MATX) last issued its earnings results on Monday, August 3rd. The shipping company reported $4.27 EPS for the quarter, topping analysts’ consensus estimates of $3.79 by $0.48. Matson had a net margin of 13.41% and a return on equity of 16.94%. The business had revenue of $969.40 million for the quarter, compared to analyst estimates of $893.91 million. During the same period last year, the company posted $2.92 earnings per share. The company’s quarterly revenue was up 16.7% compared to the same quarter last year. Research analysts forecast that Matson, Inc. will post 16.01 EPS for the current year.

Matson Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 6th will be paid a dividend of $0.38 per share. The ex-dividend date is Thursday, August 6th. This is a positive change from Matson’s previous quarterly dividend of $0.36. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.7%. Matson’s payout ratio is presently 10.16%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on MATX. Zacks Research raised shares of Matson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 6th. Wall Street Zen downgraded shares of Matson from a “buy” rating to a “hold” rating in a research report on Saturday. JPMorgan Chase & Co. raised their target price on Matson from $230.00 to $270.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 4th. Stephens lifted their price target on shares of Matson from $240.00 to $260.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 4th. Finally, Weiss Ratings upgraded Matson from a “hold (c)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $232.33.

About Matson

Matson, Inc (NYSE: MATX) is a U.S.-based provider of ocean transportation and supply chain logistics services with a focus on Pacific trade lanes. The company operates a fleet of container ships that regularly service Hawaii, Alaska, Guam, Micronesia and other Pacific islands, as well as mainland U.S. ports. Matson’s ocean transportation segment offers scheduled liner services, expedited shipping options and specialized project cargo handling for industries ranging from retail to heavy machinery.

In addition to its core liner operations, Matson offers ocean transportation services between Asia and the U.S.