Matson, Inc. (NYSE:MATX) Shares Purchased by Edgestream Partners L.P.

Edgestream Partners L.P. increased its position in shares of Matson, Inc. (NYSE:MATX) by 98.1% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 10,044 shares of the shipping company’s stock after purchasing an additional 4,973 shares during the quarter. Edgestream Partners L.P.’s holdings in Matson were worth $1,315,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Forest Avenue Capital Management LP raised its holdings in Matson by 30.6% during the fourth quarter. Forest Avenue Capital Management LP now owns 64,000 shares of the shipping company’s stock worth $7,014,000 after purchasing an additional 15,000 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Matson by 35.8% in the first quarter. BNP Paribas Financial Markets now owns 19,322 shares of the shipping company’s stock worth $2,172,000 after acquiring an additional 5,095 shares during the last quarter. LSV Asset Management raised its holdings in shares of Matson by 18.1% in the first quarter. LSV Asset Management now owns 282,763 shares of the shipping company’s stock worth $31,783,000 after acquiring an additional 43,324 shares during the last quarter. PAX Financial Group LLC acquired a new position in shares of Matson in the first quarter worth $605,000. Finally, Seven Eight Capital LP raised its holdings in shares of Matson by 579.8% in the fourth quarter. Seven Eight Capital LP now owns 16,819 shares of the shipping company’s stock worth $1,843,000 after acquiring an additional 14,345 shares during the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Matson news, SVP Laura L. Rascon sold 744 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $129.13, for a total transaction 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 $1,597,208.97. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Matson news, SVP Laura L. Rascon sold 744 shares of the business’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $129.13, for a total transaction 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 $1,597,208.97. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Jason Lee Taylor sold 1,000 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $135.73, for a total value of $135,730.00. Following the sale, the senior vice president now directly owns 9,392 shares of the company’s stock, valued at approximately $1,274,776.16. The disclosure for this sale can be found here. Insiders sold a total of 104,376 shares of company stock valued at $13,565,120 over the last quarter. Company insiders own 2.32% of the company’s stock.

Matson Price Performance

Shares of NYSE:MATX opened at $134.72 on Friday. The company has a market cap of $4.71 billion, a P/E ratio of 15.89 and a beta of 1.07. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.15. Matson, Inc. has a 52 week low of $82.68 and a 52 week high of $140.91. The business has a fifty day simple moving average of $131.40 and a 200-day simple moving average of $121.16.

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

Matson Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 5th. Stockholders of record on Thursday, August 1st were given a $0.34 dividend. The ex-dividend date was Thursday, August 1st. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.01%. This is an increase from Matson’s previous quarterly dividend of $0.32. Matson’s payout ratio is currently 16.04%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on MATX. Stephens boosted their price target on Matson from $155.00 to $160.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. StockNews.com cut Matson from a “strong-buy” rating to a “buy” rating in a report on Friday, September 6th.

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.