Matson, Inc. (NYSE:MATX) Shares Acquired by Edgestream Partners L.P.

Edgestream Partners L.P. lifted its holdings in shares of Matson, Inc. (NYSE:MATX) by 98.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,044 shares of the shipping company’s stock after acquiring an additional 4,973 shares during the period. Edgestream Partners L.P.’s holdings in Matson were worth $1,315,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Astoria Portfolio Advisors LLC. raised its position in shares of Matson by 5.8% during the 1st quarter. Astoria Portfolio Advisors LLC. now owns 2,089 shares of the shipping company’s stock worth $229,000 after acquiring an additional 114 shares in the last quarter. SummerHaven Investment Management LLC grew its stake in Matson by 1.3% during the 2nd 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 grew its stake in Matson by 4.7% during the 2nd quarter. AlphaMark Advisors LLC now owns 2,909 shares of the shipping company’s stock worth $381,000 after buying an additional 131 shares during the last quarter. Measured Wealth Private Client Group LLC grew its stake in Matson by 6.4% during the 1st quarter. Measured Wealth Private Client Group LLC now owns 2,332 shares of the shipping company’s stock worth $262,000 after buying an additional 140 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its stake 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 buying an additional 160 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Matson

In other news, CFO Joel M. Wine sold 12,821 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $123.24, for a total value of $1,580,060.04. Following the completion of the sale, the chief financial officer now directly owns 126,418 shares of the company’s stock, valued at approximately $15,579,754.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Joel M. Wine sold 12,821 shares of the firm’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $123.24, for a total value of $1,580,060.04. Following the completion of the sale, the chief financial officer now directly owns 126,418 shares of the company’s stock, valued at approximately $15,579,754.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Laura L. Rascon sold 744 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $129.13, for a total value of $96,072.72. Following the completion of the sale, the senior vice president now directly owns 12,369 shares of the company’s stock, valued at $1,597,208.97. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 104,376 shares of company stock worth $13,565,120. 2.32% of the stock is currently owned by insiders.

Matson Trading Down 1.8 %

Shares of MATX stock opened at $134.72 on Friday. The business’s 50 day moving average is $131.40 and its two-hundred day moving average is $121.16. Matson, Inc. has a twelve month low of $82.68 and a twelve month high of $140.91. The company has a market capitalization of $4.71 billion, a P/E ratio of 15.89 and a beta of 1.07. 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 (NYSE:MATX) last announced its earnings results on Thursday, August 1st. The shipping company reported $3.31 earnings per share for the quarter, beating 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 company had revenue of $847.40 million for the quarter, compared to the consensus estimate of $861.68 million. Equities analysts forecast that Matson, Inc. will post 11.45 EPS for the current year.

Matson Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 1st were paid a $0.34 dividend. This is an increase from Matson’s previous quarterly dividend of $0.32. This represents a $1.36 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend was Thursday, August 1st. Matson’s dividend payout ratio (DPR) is 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.