Private Advisor Group LLC Buys New Shares in Matson, Inc. (NYSE:MATX)

Private Advisor Group LLC bought a new stake in Matson, Inc. (NYSE:MATX) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 1,471 shares of the shipping company’s stock, valued at approximately $210,000.

Several other hedge funds have also made changes to their positions in MATX. TruNorth Capital Management LLC acquired a new position in Matson in the second quarter worth about $27,000. Redwood Wealth Management Group LLC acquired a new position in Matson in the second quarter worth about $34,000. International Assets Investment Management LLC acquired a new position in Matson in the second quarter worth about $39,000. DekaBank Deutsche Girozentrale acquired a new position in Matson in the first quarter worth about $71,000. Finally, Blue Trust Inc. raised its position in Matson by 226.9% in the second quarter. Blue Trust Inc. now owns 595 shares of the shipping company’s stock worth $78,000 after purchasing an additional 413 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

Matson Stock Performance

NYSE MATX opened at $165.64 on Friday. The firm has a market cap of $5.50 billion, a price-to-earnings ratio of 13.78 and a beta of 1.06. The company has a 50 day moving average of $138.34 and a 200-day moving average of $129.17. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.14. Matson, Inc. has a 1-year low of $89.57 and a 1-year high of $167.94.

Matson (NYSE:MATX) last posted its quarterly earnings data on Wednesday, October 30th. The shipping company reported $5.89 earnings per share for the quarter, topping the consensus estimate of $4.98 by $0.91. The company had revenue of $962.00 million during the quarter, compared to analyst estimates of $965.73 million. Matson had a net margin of 12.37% and a return on equity of 16.89%. The company’s revenue was up 16.3% on a year-over-year basis. During the same quarter last year, the business posted $3.40 earnings per share. On average, equities analysts forecast that Matson, Inc. will post 12.11 earnings per share for the current fiscal year.

Matson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 7th will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 0.82%. The ex-dividend date is Thursday, November 7th. Matson’s payout ratio is 11.31%.

Insider Activity at Matson

In related news, SVP Jason Lee Taylor sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $135.73, for a total value of $135,730.00. Following the completion of the sale, the senior vice president now owns 9,392 shares of the company’s stock, valued at $1,274,776.16. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, SVP Jason Lee Taylor sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $135.73, for a total value of $135,730.00. Following the completion of the sale, the senior vice president now owns 9,392 shares of the company’s stock, valued at $1,274,776.16. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Matthew J. Cox sold 7,500 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $137.17, for a total transaction of $1,028,775.00. Following the completion of the sale, the chief executive officer now directly owns 215,397 shares of the company’s stock, valued at approximately $29,546,006.49. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 25,864 shares of company stock valued at $3,716,059 over the last quarter. Corporate insiders own 2.32% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on MATX. StockNews.com lowered shares of Matson from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 6th. Stephens increased their price target on shares of Matson from $155.00 to $160.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd.

Matson Company 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.