RHS Financial LLC Invests $267,000 in Matson, Inc. (NYSE:MATX)

RHS Financial LLC purchased a new stake in Matson, Inc. (NYSE:MATX) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 1,978 shares of the shipping company’s stock, valued at approximately $267,000.

A number of other hedge funds and other institutional investors have also modified their holdings of MATX. Natixis Advisors LLC increased its holdings in shares of Matson by 0.5% during the 3rd quarter. Natixis Advisors LLC now owns 16,217 shares of the shipping company’s stock valued at $2,313,000 after acquiring an additional 78 shares during the last quarter. Nisa Investment Advisors LLC raised its position in shares of Matson by 0.5% during the fourth quarter. Nisa Investment Advisors LLC now owns 16,645 shares of the shipping company’s stock valued at $2,244,000 after buying an additional 80 shares during the last quarter. Inspire Investing LLC lifted its position in shares of Matson by 2.9% in the 4th quarter. Inspire Investing LLC now owns 2,972 shares of the shipping company’s stock worth $401,000 after acquiring an additional 85 shares during the period. Caprock Group LLC lifted its position in Matson by 4.2% in the third quarter. Caprock Group LLC now owns 2,283 shares of the shipping company’s stock worth $326,000 after purchasing an additional 91 shares during the period. Finally, First Trust Direct Indexing L.P. boosted its position in shares of Matson by 6.9% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 1,663 shares of the shipping company’s stock valued at $237,000 after acquiring an additional 107 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

Insider Activity at Matson

In other news, EVP Peter T. Heilmann sold 5,404 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $162.36, for a total transaction of $877,393.44. Following the completion of the transaction, the executive vice president now directly owns 32,952 shares in the company, valued at $5,350,086.72. This represents a 14.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Leonard P. Isotoff sold 492 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $161.26, for a total value of $79,339.92. Following the completion of the transaction, the senior vice president now owns 4,254 shares of the company’s stock, valued at approximately $686,000.04. This represents a 10.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,646 shares of company stock valued at $1,578,768. 2.32% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

MATX has been the topic of a number of analyst reports. Wolfe Research cut Matson from an “outperform” rating to a “peer perform” rating in a research report on Monday, November 18th. Stephens reissued an “overweight” rating and issued a $165.00 price target on shares of Matson in a report on Thursday, January 2nd.

Matson Stock Performance

Shares of Matson stock opened at $141.98 on Friday. The firm has a fifty day moving average of $142.47 and a two-hundred day moving average of $139.59. The stock has a market capitalization of $4.72 billion, a price-to-earnings ratio of 11.81 and a beta of 1.07. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.13 and a current ratio of 1.13. Matson, Inc. has a 52 week low of $100.50 and a 52 week high of $169.12.

Matson (NYSE:MATX) last posted its earnings results 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 for 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 business’s revenue for the quarter was up 16.3% compared to the same quarter last year. During the same period last year, the business posted $3.40 earnings per share. As a group, equities research analysts predict that Matson, Inc. will post 13.2 EPS for the current year.

Matson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 6th. Stockholders of record on Thursday, February 6th will be issued a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend is Thursday, February 6th. Matson’s dividend payout ratio (DPR) is presently 11.31%.

About Matson

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.