SummitTX Capital L.P. Has $11.94 Million Position in Matson, Inc. $MATX

SummitTX Capital L.P. increased its stake in Matson, Inc. (NYSE:MATX) by 42.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 72,827 shares of the shipping company’s stock after purchasing an additional 21,811 shares during the period. SummitTX Capital L.P. owned 0.24% of Matson worth $11,939,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of MATX. EverSource Wealth Advisors LLC raised its position 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 worth $32,000 after acquiring an additional 94 shares during the last quarter. Bessemer Group Inc. boosted its holdings in Matson by 0.3% in 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 during the last quarter. Linden Thomas Advisory Services LLC boosted its holdings in Matson by 0.4% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 29,456 shares of the shipping company’s stock valued at $3,639,000 after acquiring an additional 109 shares during the last quarter. Cetera Investment Advisers increased its position in Matson by 4.4% in the fourth quarter. Cetera Investment Advisers now owns 3,880 shares of the shipping company’s stock worth $479,000 after purchasing an additional 164 shares during the period. Finally, Amundi increased its position in Matson by 3.1% in the third quarter. Amundi now owns 5,637 shares of the shipping company’s stock worth $557,000 after purchasing an additional 168 shares during the period. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Transactions at Matson

In other news, SVP John Warren Sullivan sold 3,331 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $180.14, for a total value of $600,046.34. Following the completion of the transaction, the senior vice president owned 9,547 shares in the company, valued at $1,719,796.58. This represents a 25.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Peter T. Heilmann sold 7,173 shares of the stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $180.19, for a total transaction of $1,292,502.87. Following the sale, the executive vice president directly owned 25,506 shares of the company’s stock, valued at $4,595,926.14. This represents a 21.95% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 23,963 shares of company stock valued at $4,349,268. 2.51% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Matson in a research report on Friday, May 29th. JPMorgan Chase & Co. started coverage on shares of Matson in a research note on Monday, April 27th. They set an “overweight” rating and a $230.00 price target for the company. Finally, Zacks Research upgraded shares of Matson to a “hold” rating in a report on Wednesday, April 29th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Matson presently has an average rating of “Moderate Buy” and an average price target of $181.25.

Matson Stock Up 0.1%

Shares of Matson stock opened at $210.84 on Monday. Matson, Inc. has a 1 year low of $86.97 and a 1 year high of $230.74. The business has a 50-day moving average of $197.21 and a two-hundred day moving average of $174.79. The company has a market capitalization of $6.38 billion, a P/E ratio of 15.49 and a beta of 1.28. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.82 and a quick ratio of 0.82.

Matson (NYSE:MATX) last released its quarterly earnings results on Monday, May 4th. The shipping company reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $1.65 by $0.20. Matson had a return on equity of 15.90% and a net margin of 12.92%.The company had revenue of $757.80 million for the quarter, compared to analyst estimates of $777.55 million. During the same quarter last year, the firm posted $2.18 earnings per share. Matson’s revenue was down 3.1% compared to the same quarter last year. As a group, equities analysts predict that Matson, Inc. will post 14.16 EPS for the current year.

Matson Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 6th will be issued a dividend of $0.38 per share. This is an increase from Matson’s previous quarterly dividend of $0.36. The ex-dividend date is Thursday, August 6th. This represents a $1.52 annualized dividend and a yield of 0.7%. Matson’s dividend payout ratio is 10.58%.

Matson Profile

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.