Cubist Systematic Strategies LLC Takes Position in Matson Inc (NYSE:MATX)

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Cubist Systematic Strategies LLC acquired a new stake in shares of Matson Inc (NYSE:MATX) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 6,837 shares of the shipping company’s stock, valued at approximately $266,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Geode Capital Management LLC raised its stake in Matson by 7.7% in the 4th quarter. Geode Capital Management LLC now owns 444,885 shares of the shipping company’s stock worth $14,245,000 after acquiring an additional 31,971 shares during the last quarter. FMR LLC raised its stake in Matson by 2.0% in the 1st quarter. FMR LLC now owns 44,731 shares of the shipping company’s stock worth $1,615,000 after acquiring an additional 877 shares during the last quarter. Denali Advisors LLC raised its stake in Matson by 229.1% in the 2nd quarter. Denali Advisors LLC now owns 24,100 shares of the shipping company’s stock worth $936,000 after acquiring an additional 16,776 shares during the last quarter. Fruth Investment Management purchased a new position in Matson in the 2nd quarter worth $205,000. Finally, Oregon Public Employees Retirement Fund raised its stake in Matson by 1.8% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 16,839 shares of the shipping company’s stock worth $654,000 after acquiring an additional 300 shares during the last quarter. Hedge funds and other institutional investors own 87.47% of the company’s stock.

In other Matson news, insider Vic S. Angoco, Jr. sold 16,100 shares of Matson stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $35.14, for a total transaction of $565,754.00. Following the completion of the transaction, the insider now owns 43,926 shares in the company, valued at approximately $1,543,559.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Rusty K. Rolfe sold 3,047 shares of Matson stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $40.67, for a total value of $123,921.49. Following the transaction, the senior vice president now owns 56,304 shares of the company’s stock, valued at approximately $2,289,883.68. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

Shares of NYSE MATX traded down $0.14 during trading on Monday, reaching $36.65. 1,581 shares of the company traded hands, compared to its average volume of 169,409. The firm’s fifty day simple moving average is $37.18 and its 200 day simple moving average is $37.69. The stock has a market cap of $1.56 billion, a P/E ratio of 14.43, a PEG ratio of 3.61 and a beta of 1.61. Matson Inc has a 12-month low of $30.60 and a 12-month high of $42.15. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 1.28.

Matson (NYSE:MATX) last released its quarterly earnings data on Wednesday, August 7th. The shipping company reported $0.43 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.63 by ($0.20). The company had revenue of $557.90 million for the quarter, compared to analysts’ expectations of $577.55 million. Matson had a net margin of 4.15% and a return on equity of 12.30%. The business’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.76 EPS. As a group, research analysts expect that Matson Inc will post 2.01 EPS for the current year.

A number of brokerages recently issued reports on MATX. Zacks Investment Research lowered Matson from a “hold” rating to a “sell” rating in a research note on Saturday, August 10th. ValuEngine upgraded Matson from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st.

Matson Profile

Matson, Inc provides ocean transportation and logistics services. The company's Ocean Transportation segment offers ocean freight transportation services to the domestic non-contiguous economies of Hawaii, Alaska, and Guam, as well as to other island economies in Micronesia. It primarily transports dry containers of mixed commodities, refrigerated commodities, packaged foods and beverages, building materials, automobiles, and household goods; livestock; seafood; general sustenance cargo; and garments, footwear, and other retail merchandise.

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Institutional Ownership by Quarter for Matson (NYSE:MATX)

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