Matson, Inc. (NYSE:MATX) Position Raised by Blue Trust Inc.

Blue Trust Inc. raised its position in shares of Matson, Inc. (NYSE:MATX) by 140.5% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,431 shares of the shipping company’s stock after purchasing an additional 836 shares during the quarter. Blue Trust Inc.’s holdings in Matson were worth $187,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of MATX. Vanguard Group Inc. raised its holdings in shares of Matson by 5.7% in the 1st quarter. Vanguard Group Inc. now owns 3,984,076 shares of the shipping company’s stock worth $447,810,000 after purchasing an additional 215,452 shares in the last quarter. American Century Companies Inc. grew its position in Matson by 4.2% in the second quarter. American Century Companies Inc. now owns 911,827 shares of the shipping company’s stock worth $119,422,000 after buying an additional 36,901 shares during the last quarter. Encompass Capital Advisors LLC increased its holdings in shares of Matson by 52.1% in the second quarter. Encompass Capital Advisors LLC now owns 356,416 shares of the shipping company’s stock valued at $46,680,000 after buying an additional 122,017 shares in the last quarter. LSV Asset Management lifted its position in shares of Matson by 18.1% during the 1st quarter. LSV Asset Management now owns 282,763 shares of the shipping company’s stock valued at $31,783,000 after acquiring an additional 43,324 shares during the last quarter. Finally, Millennium Management LLC boosted its stake in shares of Matson by 126.5% during the 2nd quarter. Millennium Management LLC now owns 240,117 shares of the shipping company’s stock worth $31,448,000 after acquiring an additional 134,092 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Matson Trading Down 0.0 %

Matson stock opened at $133.31 on Friday. Matson, Inc. has a 52 week low of $82.68 and a 52 week high of $144.93. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a market capitalization of $4.66 billion, a price-to-earnings ratio of 15.72 and a beta of 1.07. The company has a 50 day moving average price of $135.05 and a 200 day moving average price of $126.27.

Matson (NYSE:MATX) last issued its earnings results on Thursday, August 1st. The shipping company reported $3.31 EPS for the quarter, topping the consensus estimate of $3.05 by $0.26. Matson had a return on equity of 13.87% and a net margin of 10.41%. The business had revenue of $847.40 million during the quarter, compared to analysts’ expectations of $861.68 million. Research analysts forecast that Matson, Inc. will post 11.45 EPS for the current year.

Matson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 7th will be issued a $0.34 dividend. The ex-dividend date is Thursday, November 7th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.02%. Matson’s dividend payout ratio is 16.04%.

Analyst Ratings Changes

MATX has been the topic of a number of recent analyst reports. StockNews.com lowered Matson from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 6th. Stephens boosted their price objective on Matson from $155.00 to $160.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd.

Insider Transactions at Matson

In related news, SVP Richard S. Kinney sold 1,615 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $133.62, for a total transaction of $215,796.30. Following the transaction, the senior vice president now directly owns 7,973 shares of the company’s stock, valued at approximately $1,065,352.26. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Matson news, SVP Richard S. Kinney sold 1,615 shares of the business’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $133.62, for a total value of $215,796.30. Following the transaction, the senior vice president now owns 7,973 shares in the company, valued at $1,065,352.26. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Peter T. Heilmann sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $129.37, for a total value of $1,293,700.00. Following the sale, the executive vice president now directly owns 38,356 shares of the company’s stock, valued at $4,962,115.72. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 49,736 shares of company stock valued at $6,672,494 over the last three months. 2.32% of the stock is owned by corporate insiders.

About Matson

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.