Matson, Inc. (NYSE:MATX) Shares Bought by Public Sector Pension Investment Board

Public Sector Pension Investment Board boosted its holdings in shares of Matson, Inc. (NYSE:MATX) by 4.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 75,152 shares of the shipping company’s stock after acquiring an additional 3,543 shares during the quarter. Public Sector Pension Investment Board’s holdings in Matson were worth $9,843,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in MATX. Forest Avenue Capital Management LP grew its position in Matson by 50.2% in the 2nd quarter. Forest Avenue Capital Management LP now owns 232,455 shares of the shipping company’s stock valued at $30,445,000 after acquiring an additional 77,731 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of Matson during the second quarter worth about $105,000. Intech Investment Management LLC purchased a new stake in shares of Matson during the 2nd quarter worth $1,312,000. Hsbc Holdings PLC lifted its stake in Matson by 99.4% during the second quarter. Hsbc Holdings PLC now owns 17,322 shares of the shipping company’s stock worth $2,246,000 after purchasing an additional 8,634 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV boosted its holdings in shares of Matson by 6.3% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 3,414 shares of the shipping company’s stock valued at $447,000 after buying an additional 201 shares in the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Matson Price Performance

Matson stock opened at $138.47 on Tuesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.93 and a current ratio of 0.93. The business has a fifty day moving average of $131.64 and a two-hundred day moving average of $121.58. Matson, Inc. has a one year low of $82.68 and a one year high of $140.91. The company has a market cap of $4.84 billion, a P/E ratio of 16.33 and a beta of 1.07.

Matson (NYSE:MATX) last announced its earnings results on Thursday, August 1st. The shipping company reported $3.31 EPS for the quarter, beating analysts’ consensus estimates of $3.05 by $0.26. Matson had a return on equity of 13.87% and a net margin of 10.41%. The firm had revenue of $847.40 million for the quarter, compared to analysts’ expectations of $861.68 million. As a group, analysts predict that Matson, Inc. will post 11.45 earnings per share for the current fiscal year.

Matson Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 1st were paid a dividend of $0.34 per share. The ex-dividend date was Thursday, August 1st. This is a positive change from Matson’s previous quarterly dividend of $0.32. This represents a $1.36 annualized dividend and a yield of 0.98%. Matson’s dividend payout ratio is currently 16.04%.

Insider Buying and Selling at Matson

In other Matson news, CFO Joel M. Wine sold 8,941 shares of the business’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $128.80, for a total transaction of $1,151,600.80. Following the transaction, the chief financial officer now owns 151,329 shares in the company, valued at $19,491,175.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, SVP Laura L. Rascon sold 744 shares of the business’s stock in a transaction dated 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 owns 12,369 shares of the company’s stock, valued at approximately $1,597,208.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Joel M. Wine sold 8,941 shares of the firm’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $128.80, for a total value of $1,151,600.80. Following the transaction, the chief financial officer now owns 151,329 shares in the company, valued at $19,491,175.20. The disclosure for this sale can be found here. Insiders have sold a total of 104,376 shares of company stock valued at $13,565,120 over the last ninety days. Corporate insiders own 2.32% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. StockNews.com lowered Matson from a “strong-buy” rating to a “buy” rating in a report on Friday, September 6th. Stephens lifted their target price on shares of Matson from $155.00 to $160.00 and gave the company an “overweight” rating in a report on Friday, August 2nd.

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.