Matson, Inc. (NYSE:MATX) Shares Bought by Creative Planning

Creative Planning grew its stake in Matson, Inc. (NYSE:MATX) by 28.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,417 shares of the shipping company’s stock after buying an additional 2,511 shares during the period. Creative Planning’s holdings in Matson were worth $1,628,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. BNP Paribas Financial Markets increased its position in Matson by 35.8% during the first quarter. BNP Paribas Financial Markets now owns 19,322 shares of the shipping company’s stock worth $2,172,000 after buying an additional 5,095 shares during the period. LSV Asset Management grew its position in shares of Matson by 18.1% during the first quarter. LSV Asset Management now owns 282,763 shares of the shipping company’s stock worth $31,783,000 after acquiring an additional 43,324 shares during the last quarter. PAX Financial Group LLC acquired a new position in shares of Matson in the 1st quarter valued at $605,000. Caxton Associates LP raised its position in Matson by 283.4% in the 1st quarter. Caxton Associates LP now owns 8,232 shares of the shipping company’s stock valued at $925,000 after purchasing an additional 6,085 shares during the last quarter. Finally, Artemis Investment Management LLP boosted its stake in Matson by 31.5% during the 2nd quarter. Artemis Investment Management LLP now owns 75,070 shares of the shipping company’s stock worth $9,832,000 after purchasing an additional 17,992 shares during the period. 84.76% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Matson

In related news, SVP Laura L. Rascon sold 744 shares of Matson stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $129.13, for a total value of $96,072.72. Following the sale, the senior vice president now directly owns 12,369 shares in the company, valued at $1,597,208.97. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other 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 directly owns 7,973 shares of the company’s stock, valued at $1,065,352.26. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Laura L. Rascon sold 744 shares of the stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $129.13, for a total transaction of $96,072.72. Following the completion of the transaction, the senior vice president now owns 12,369 shares of the company’s stock, valued at $1,597,208.97. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 30,712 shares of company stock valued at $4,149,098. Corporate insiders own 2.32% of the company’s stock.

Matson Price Performance

Shares of NYSE MATX opened at $134.42 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.93 and a quick ratio of 0.93. The company has a market cap of $4.70 billion, a PE ratio of 15.86 and a beta of 1.07. The stock has a fifty day moving average price of $135.00 and a 200 day moving average price of $126.54. Matson, Inc. has a 1-year low of $82.68 and a 1-year high of $144.93.

Matson (NYSE:MATX) last released its earnings results on Thursday, August 1st. The shipping company reported $3.31 EPS for the quarter, topping the consensus estimate of $3.05 by $0.26. Matson had a net margin of 10.41% and a return on equity of 13.87%. The company had revenue of $847.40 million during the quarter, compared to analysts’ expectations of $861.68 million. Sell-side analysts forecast that Matson, Inc. will post 11.45 EPS for the current year.

Matson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 7th will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 1.01%. The ex-dividend date of this dividend is Thursday, November 7th. Matson’s payout ratio is 16.04%.

Analyst Ratings Changes

A number of research analysts have commented on MATX shares. Stephens lifted their price objective on shares of Matson from $155.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. StockNews.com cut Matson from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 6th.

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.