Intech Investment Management LLC Invests $1.31 Million in Matson, Inc. (NYSE:MATX)

Intech Investment Management LLC purchased a new stake in shares of Matson, Inc. (NYSE:MATX) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 10,021 shares of the shipping company’s stock, valued at approximately $1,312,000.

Other institutional investors have also made changes to their positions in the company. Hsbc Holdings PLC boosted its position in Matson by 99.4% in the 2nd quarter. Hsbc Holdings PLC now owns 17,322 shares of the shipping company’s stock valued at $2,246,000 after buying an additional 8,634 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its holdings in Matson by 6.3% in the second quarter. Mercer Global Advisors Inc. ADV now owns 3,414 shares of the shipping company’s stock valued at $447,000 after acquiring an additional 201 shares during the last quarter. Edgestream Partners L.P. increased its position in Matson by 98.1% in the second quarter. Edgestream Partners L.P. now owns 10,044 shares of the shipping company’s stock worth $1,315,000 after purchasing an additional 4,973 shares during the period. Redwood Wealth Management Group LLC bought a new stake in Matson during the 2nd quarter worth about $34,000. Finally, Envestnet Asset Management Inc. lifted its position in Matson by 13.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 77,902 shares of the shipping company’s stock valued at $10,203,000 after purchasing an additional 9,351 shares during the period. 84.76% of the stock is owned by institutional investors.

Insider Buying and Selling at Matson

In related news, CFO Joel M. Wine sold 8,941 shares of the firm’s stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $128.80, for a total transaction of $1,151,600.80. Following the sale, the chief financial officer now directly owns 151,329 shares in the company, valued at $19,491,175.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CFO Joel M. Wine sold 8,941 shares of the 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 completion of the transaction, the chief financial officer now directly owns 151,329 shares in the company, valued at $19,491,175.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Laura L. Rascon sold 744 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at approximately $1,597,208.97. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 104,376 shares of company stock valued at $13,565,120. 2.32% of the stock is currently owned by corporate insiders.

Matson Stock Up 3.0 %

Shares of NYSE:MATX opened at $142.64 on Wednesday. The company has a 50 day moving average price of $131.84 and a two-hundred day moving average price of $121.84. 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 company has a market capitalization of $4.98 billion, a PE ratio of 16.82 and a beta of 1.07. Matson, Inc. has a 52 week low of $82.68 and a 52 week high of $143.06.

Matson (NYSE:MATX) last issued its quarterly earnings data 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 return on equity of 13.87% and a net margin of 10.41%. The business had revenue of $847.40 million for the quarter, compared to the consensus estimate of $861.68 million. Analysts forecast that Matson, Inc. will post 11.45 earnings per share for the current year.

Matson Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 5th. Shareholders of record on Thursday, August 1st were issued a dividend of $0.34 per share. This is an increase from Matson’s previous quarterly dividend of $0.32. This represents a $1.36 annualized dividend and a yield of 0.95%. The ex-dividend date was Thursday, August 1st. Matson’s dividend payout ratio (DPR) is 16.04%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on MATX shares. StockNews.com lowered shares of Matson from a “strong-buy” rating to a “buy” rating in a report on Friday, September 6th. Stephens lifted their price objective on Matson from $155.00 to $160.00 and gave the stock an “overweight” rating in a research note 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.