Choreo LLC Has $513,000 Stock Holdings in Matson, Inc. (NYSE:MATX)

Choreo LLC increased its stake in Matson, Inc. (NYSE:MATX) by 120.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,971 shares of the shipping company’s stock after acquiring an additional 2,171 shares during the quarter. Choreo LLC’s holdings in Matson were worth $513,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Astoria Portfolio Advisors LLC. lifted its position in shares of Matson by 5.8% in the 1st quarter. Astoria Portfolio Advisors LLC. now owns 2,089 shares of the shipping company’s stock worth $229,000 after purchasing an additional 114 shares during the period. SummerHaven Investment Management LLC raised its stake in Matson by 1.3% during the second quarter. SummerHaven Investment Management LLC now owns 9,585 shares of the shipping company’s stock worth $1,255,000 after buying an additional 124 shares during the last quarter. AlphaMark Advisors LLC lifted its holdings in Matson by 4.7% in the second quarter. AlphaMark Advisors LLC now owns 2,909 shares of the shipping company’s stock valued at $381,000 after buying an additional 131 shares during the period. Measured Wealth Private Client Group LLC boosted its position in Matson by 6.4% during the first quarter. Measured Wealth Private Client Group LLC now owns 2,332 shares of the shipping company’s stock valued at $262,000 after acquiring an additional 140 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its holdings in Matson by 3.9% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 4,236 shares of the shipping company’s stock worth $464,000 after acquiring an additional 160 shares during the period. 84.76% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Matson

In other Matson news, SVP Richard S. Kinney sold 1,615 shares of the company’s stock in a transaction 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 owns 7,973 shares in the company, valued at $1,065,352.26. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CFO Joel M. Wine sold 8,941 shares of the stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $128.80, for a total value of $1,151,600.80. Following the completion of the sale, the chief financial officer now directly owns 151,329 shares of the company’s stock, valued at approximately $19,491,175.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Richard S. Kinney sold 1,615 shares of Matson stock in a transaction on Wednesday, August 21st. The stock was 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 in the company, valued at $1,065,352.26. The disclosure for this sale can be found here. In the last 90 days, insiders sold 104,376 shares of company stock valued at $13,565,120. 2.32% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on MATX. StockNews.com downgraded Matson from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 6th. Stephens boosted their price target on Matson from $155.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd.

Matson Price Performance

Shares of NYSE MATX opened at $132.63 on Monday. The firm has a market capitalization of $4.45 billion, a P/E ratio of 15.64 and a beta of 1.07. The firm’s 50-day moving average price is $130.47 and its 200-day moving average price is $120.49. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.15. Matson, Inc. has a 1-year low of $82.68 and a 1-year high of $138.84.

Matson (NYSE:MATX) last posted its quarterly earnings results on Thursday, August 1st. The shipping company reported $3.31 earnings per share for the quarter, topping analysts’ consensus estimates of $3.05 by $0.26. The business had revenue of $847.40 million for the quarter, compared to the consensus estimate of $861.68 million. Matson had a return on equity of 13.87% and a net margin of 10.41%. Equities research analysts anticipate that Matson, Inc. will post 11.45 earnings per share for the current fiscal year.

Matson Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Investors of record on Thursday, August 1st were issued a $0.34 dividend. This is a boost from Matson’s previous quarterly dividend of $0.32. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend was Thursday, August 1st. Matson’s dividend payout ratio (DPR) is currently 16.04%.

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.