6,900 Shares of Matson, Inc. $MATX Purchased by Lisanti Capital Growth LLC

Lisanti Capital Growth LLC purchased a new stake in shares of Matson, Inc. (NYSE:MATX) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 6,900 shares of the shipping company’s stock, valued at approximately $1,516,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Provenance Wealth Advisors LLC bought a new stake in Matson during the third quarter worth about $25,000. Allworth Financial LP acquired a new stake in shares of Matson during the second quarter worth approximately $28,000. Global Retirement Partners LLC acquired a new stake in shares of Matson during the second quarter worth approximately $44,000. USA Financial Formulas acquired a new stake in shares of Matson during the third quarter worth approximately $50,000. Finally, Public Employees Retirement System of Ohio bought a new position in shares of Matson in the second quarter valued at approximately $55,000. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Weiss Ratings raised Matson from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Stephens increased their price target on Matson from $270.00 to $300.00 and gave the stock an “overweight” rating in a research report on Thursday, November 5th. Wall Street Zen raised Matson from a “hold” rating to a “strong-buy” rating in a report on Saturday, November 7th. Zacks Research downgraded Matson from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. Finally, Freedom Broker initiated coverage on Matson in a research report on Wednesday, September 30th. They issued a “buy” rating and a $260.00 price objective for the company. Five equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Matson has a consensus rating of “Moderate Buy” and a consensus target price of $259.25.

Insider Activity

In related news, EVP Christopher A. Scott sold 600 shares of the business’s stock in a transaction that occurred on Wednesday, August 19th. The shares were sold at an average price of $219.90, for a total value of $131,940.00. Following the completion of the transaction, the executive vice president owned 9,354 shares in the company, valued at $2,056,944.60. The trade was a 6.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Vic S. Angoco, Jr. sold 2,293 shares of the company’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $222.76, for a total value of $510,788.68. Following the transaction, the executive vice president directly owned 12,507 shares in the company, valued at approximately $2,786,059.32. This represents a 15.49% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 7,893 shares of company stock valued at $1,743,479 over the last three months. 2.51% of the stock is owned by insiders.

Matson Stock Up 2.4%

Shares of NYSE MATX opened at $212.04 on Thursday. Matson, Inc. has a 12-month low of $101.98 and a 12-month high of $240.87. The firm’s 50-day simple moving average is $226.34 and its 200 day simple moving average is $195.13. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.10. The company has a market cap of $6.28 billion, a price-to-earnings ratio of 11.71 and a beta of 1.33.

Matson (NYSE:MATX) last posted its quarterly earnings data on Wednesday, November 4th. The shipping company reported $6.96 earnings per share for the quarter, beating the consensus estimate of $6.27 by $0.69. Matson had a net margin of 14.58% and a return on equity of 19.25%. The firm had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter last year, the company posted $4.24 EPS. The company’s quarterly revenue was up 26.5% compared to the same quarter last year. On average, research analysts expect that Matson, Inc. will post 18.90 earnings per share for the current fiscal 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 dividend payout ratio is 8.60%.

Matson Profile

Matson, Inc. is a transportation company focused on ocean shipping and logistics. Founded in 1882 by Captain William Matson, the company has a long history of connecting communities and businesses across the Pacific. Matson provides ocean transportation services to Hawaii, Alaska, Guam, Micronesia, and the South Pacific, as well as a service linking China with the U.S. West Coast. Its operations include container shipping and the transport of goods such as vehicles and other cargo. Through its logistics business, Matson also offers freight forwarding, intermodal transportation, and supply chain services.