Matson, Inc. (NYSE:MATX) Shares Acquired by Maverick Capital Ltd.

Maverick Capital Ltd. boosted its position in Matson, Inc. (NYSE:MATX) by 58.7% during the second quarter, Holdings Channel.com reports. The fund owned 7,393 shares of the shipping company’s stock after purchasing an additional 2,734 shares during the quarter. Maverick Capital Ltd.’s holdings in Matson were worth $968,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MATX. TruNorth Capital Management LLC purchased a new stake in shares of Matson during the 2nd quarter worth about $27,000. Redwood Wealth Management Group LLC purchased a new stake in Matson during the second quarter worth approximately $34,000. Security National Bank acquired a new stake in shares of Matson in the fourth quarter worth $36,000. International Assets Investment Management LLC purchased a new position in shares of Matson in the 2nd quarter valued at $39,000. Finally, DekaBank Deutsche Girozentrale acquired a new position in shares of Matson during the 1st quarter valued at $71,000. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MATX has been the subject of several recent research reports. Stephens increased their price target on Matson from $155.00 to $160.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. StockNews.com downgraded Matson from a “strong-buy” rating to a “buy” rating in a report on Friday, September 6th.

Matson Price Performance

MATX opened at $141.93 on Friday. Matson, Inc. has a twelve month low of $82.68 and a twelve month high of $144.90. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.15. The firm has a market cap of $4.96 billion, a price-to-earnings ratio of 16.74 and a beta of 1.07. The company has a fifty day simple moving average of $132.59 and a 200 day simple moving average of $122.36.

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

Insider Buying and Selling at Matson

In related news, CFO Joel M. Wine sold 12,821 shares of Matson stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $123.24, for a total value of $1,580,060.04. Following the completion of the sale, the chief financial officer now owns 126,418 shares in the company, valued at $15,579,754.32. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CFO Joel M. Wine sold 12,821 shares of Matson stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $123.24, for a total value of $1,580,060.04. Following the completion of the transaction, the chief financial officer now directly owns 126,418 shares in the company, valued at $15,579,754.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Richard S. Kinney sold 1,615 shares of the business’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $133.62, for a total value of $215,796.30. Following the completion of the sale, the senior vice president now directly owns 7,973 shares of the company’s stock, valued at $1,065,352.26. The disclosure for this sale can be found here. Insiders have sold a total of 87,592 shares of company stock valued at $11,389,694 in the last three months. Corporate insiders own 2.32% of the company’s stock.

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.