Toroso Investments LLC Grows Holdings in Matson, Inc. (NYSE:MATX)

Toroso Investments LLC grew its position in shares of Matson, Inc. (NYSE:MATX) by 67.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 15,835 shares of the shipping company’s stock after buying an additional 6,355 shares during the period. Toroso Investments LLC’s holdings in Matson were worth $945,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. JPMorgan Chase & Co. grew its position in Matson by 24.3% during the first quarter. JPMorgan Chase & Co. now owns 295,010 shares of the shipping company’s stock valued at $17,603,000 after purchasing an additional 57,726 shares in the last quarter. Advisory Services Network LLC boosted its stake in Matson by 31.7% in the first quarter. Advisory Services Network LLC now owns 1,750 shares of the shipping company’s stock valued at $104,000 after acquiring an additional 421 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in Matson by 65.4% in the first quarter. Thrivent Financial for Lutherans now owns 64,082 shares of the shipping company’s stock valued at $3,824,000 after buying an additional 25,328 shares during the period. Mercer Global Advisors Inc. ADV bought a new stake in shares of Matson in the 1st quarter valued at $215,000. Finally, Hudson Bay Capital Management LP bought a new stake in Matson during the 1st quarter worth approximately $2,308,000. 85.04% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Matson

In other Matson news, CEO Matthew J. Cox sold 10,000 shares of the stock in a transaction on Monday, July 31st. The shares were sold at an average price of $93.78, for a total transaction of $937,800.00. Following the transaction, the chief executive officer now directly owns 231,267 shares of the company’s stock, valued at $21,688,219.26. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Matson news, CEO Matthew J. Cox sold 10,000 shares of the company’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $93.78, for a total transaction of $937,800.00. Following the transaction, the chief executive officer now directly owns 231,267 shares in the company, valued at $21,688,219.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Grace M. Cerocke sold 700 shares of the business’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $92.65, for a total value of $64,855.00. Following the transaction, the senior vice president now directly owns 12,164 shares of the company’s stock, valued at $1,126,994.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,915 shares of company stock worth $2,949,617. 1.90% of the stock is currently owned by insiders.

Matson Trading Up 1.0 %

Matson stock opened at $87.23 on Tuesday. The business has a 50-day simple moving average of $88.28 and a two-hundred day simple moving average of $74.82. The company has a market cap of $3.08 billion, a P/E ratio of 7.16 and a beta of 1.22. Matson, Inc. has a 52-week low of $56.51 and a 52-week high of $97.49. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.18.

Matson (NYSE:MATX) last announced its quarterly earnings data on Tuesday, August 1st. The shipping company reported $2.26 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.26. The business had revenue of $773.40 million during the quarter, compared to analyst estimates of $762.35 million. Matson had a net margin of 13.52% and a return on equity of 20.04%. The company’s revenue was down 38.7% on a year-over-year basis. During the same period last year, the firm posted $9.49 EPS. Analysts predict that Matson, Inc. will post 5.81 EPS for the current year.

Matson Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 7th. Investors of record on Thursday, August 3rd were given a $0.32 dividend. This is a positive change from Matson’s previous quarterly dividend of $0.31. This represents a $1.28 annualized dividend and a dividend yield of 1.47%. The ex-dividend date was Wednesday, August 2nd. Matson’s dividend payout ratio (DPR) is presently 10.50%.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. StockNews.com raised shares of Matson from a “hold” rating to a “buy” rating in a report on Thursday, September 7th. Stifel Nicolaus upped their target price on shares of Matson from $86.00 to $90.00 and gave the stock a “hold” rating in a research note on Wednesday, August 2nd. Finally, Stephens lifted their target price on shares of Matson from $73.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 2nd.

Matson Profile

Matson, Inc, together with its subsidiaries, 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.