GAMMA Investing LLC Lowers Holdings in Matson, Inc. (NYSE:MATX)

GAMMA Investing LLC reduced its stake in Matson, Inc. (NYSE:MATX) by 14.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 679 shares of the shipping company’s stock after selling 114 shares during the period. GAMMA Investing LLC’s holdings in Matson were worth $76,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of MATX. McGlone Suttner Wealth Management Inc. bought a new stake in Matson during the 4th quarter valued at about $26,000. USA Financial Formulas bought a new stake in shares of Matson during the fourth quarter valued at approximately $26,000. Security National Bank bought a new position in Matson in the 4th quarter valued at approximately $36,000. Blue Trust Inc. lifted its position in Matson by 109.6% in the 4th quarter. Blue Trust Inc. now owns 415 shares of the shipping company’s stock valued at $45,000 after acquiring an additional 217 shares in the last quarter. Finally, Evermay Wealth Management LLC bought a new stake in shares of Matson in the 4th quarter worth $66,000. 84.76% of the stock is currently owned by institutional investors.

Matson Price Performance

Shares of NYSE:MATX opened at $126.15 on Monday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $4.41 billion, a PE ratio of 14.88 and a beta of 1.11. The firm’s 50 day moving average price is $116.15 and its 200-day moving average price is $112.87. Matson, Inc. has a twelve month low of $72.20 and a twelve month high of $129.46.

Matson (NYSE:MATX) last released its quarterly earnings results on Tuesday, April 30th. The shipping company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.05. The business had revenue of $722.10 million for the quarter, compared to the consensus estimate of $730.44 million. Matson had a net margin of 9.61% and a return on equity of 12.66%. The company’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period last year, the firm earned $0.94 earnings per share. Equities research analysts expect that Matson, Inc. will post 8.74 EPS for the current year.

Matson Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 6th. Stockholders of record on Thursday, May 9th were paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 1.01%. The ex-dividend date was Wednesday, May 8th. Matson’s dividend payout ratio (DPR) is currently 15.09%.

Insider Activity

In other Matson news, SVP John Warren Sullivan sold 893 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $110.60, for a total transaction of $98,765.80. Following the sale, the senior vice president now owns 13,495 shares in the company, valued at approximately $1,492,547. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, SVP Leonard P. Isotoff sold 2,800 shares of Matson stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $112.48, for a total transaction of $314,944.00. Following the sale, the senior vice president now owns 4,746 shares of the company’s stock, valued at approximately $533,830.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP John Warren Sullivan sold 893 shares of the company’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $110.60, for a total value of $98,765.80. Following the completion of the transaction, the senior vice president now owns 13,495 shares of the company’s stock, valued at $1,492,547. The disclosure for this sale can be found here. Insiders have sold a total of 5,485 shares of company stock valued at $619,987 in the last ninety days. Corporate insiders own 2.32% of the company’s stock.

Analyst Upgrades and Downgrades

MATX has been the topic of several recent analyst reports. StockNews.com cut Matson from a “buy” rating to a “hold” rating in a research report on Saturday, May 25th. Stifel Nicolaus lifted their price target on shares of Matson from $109.00 to $111.00 and gave the stock a “hold” rating in a research note on Wednesday, May 1st. Finally, Stephens restated an “overweight” rating and set a $135.00 price objective on shares of Matson in a research report on Friday, May 24th.

Matson Profile

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.