Xponance Inc. Grows Position in Matson, Inc. (NYSE:MATX)

Xponance Inc. boosted its stake in Matson, Inc. (NYSE:MATX) by 7.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,654 shares of the shipping company’s stock after buying an additional 184 shares during the period. Xponance Inc.’s holdings in Matson were worth $358,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. JPMorgan Chase & Co. increased its position in shares of Matson by 10.1% during the third quarter. JPMorgan Chase & Co. now owns 286,968 shares of the shipping company’s stock valued at $40,927,000 after acquiring an additional 26,366 shares during the last quarter. Boston Partners boosted its position in shares of Matson by 5.0% during the 4th quarter. Boston Partners now owns 182,570 shares of the shipping company’s stock worth $24,707,000 after purchasing an additional 8,704 shares during the period. BNP Paribas Financial Markets increased its holdings in Matson by 7.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 10,079 shares of the shipping company’s stock valued at $1,437,000 after purchasing an additional 703 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in Matson in the third quarter valued at approximately $512,000. Finally, One Wealth Advisors LLC acquired a new position in Matson during the fourth quarter worth $258,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on MATX shares. Stephens lifted their price objective on Matson from $165.00 to $175.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Stifel Nicolaus lifted their target price on Matson from $150.00 to $160.00 and gave the company a “hold” rating in a research report on Wednesday, February 26th.

Matson Stock Up 0.7 %

Shares of NYSE MATX opened at $133.07 on Thursday. The stock has a market cap of $4.37 billion, a P/E ratio of 11.07 and a beta of 1.05. The business’s fifty day simple moving average is $137.38 and its 200-day simple moving average is $141.03. Matson, Inc. has a 12-month low of $100.50 and a 12-month high of $169.12. 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 (NYSE:MATX) last issued its earnings results on Tuesday, February 25th. The shipping company reported $3.80 EPS for the quarter, topping analysts’ consensus estimates of $3.20 by $0.60. The firm had revenue of $890.30 million during the quarter, compared to the consensus estimate of $851.78 million. Matson had a net margin of 12.37% and a return on equity of 16.89%. As a group, equities analysts predict that Matson, Inc. will post 13.27 EPS for the current fiscal year.

Matson Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 6th. Shareholders of record on Thursday, February 6th were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 1.02%. The ex-dividend date was Thursday, February 6th. Matson’s payout ratio is currently 9.69%.

Insider Buying and Selling at Matson

In other Matson news, SVP Richard S. Kinney sold 1,997 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $137.11, for a total transaction of $273,808.67. Following the completion of the sale, the senior vice president now directly owns 8,425 shares of the company’s stock, valued at $1,155,151.75. This represents a 19.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP John P. Lauer sold 7,985 shares of Matson stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $134.73, for a total value of $1,075,819.05. Following the completion of the transaction, the executive vice president now owns 25,192 shares in the company, valued at $3,394,118.16. This trade represents a 24.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.05% of the stock is currently owned by company insiders.

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.