Intech Investment Management LLC Has $2.05 Million Stake in Matson, Inc. (NYSE:MATX)

Intech Investment Management LLC boosted its stake in shares of Matson, Inc. (NYSE:MATX) by 43.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,382 shares of the shipping company’s stock after buying an additional 4,361 shares during the quarter. Intech Investment Management LLC’s holdings in Matson were worth $2,051,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. TruNorth Capital Management LLC acquired a new stake in shares of Matson during the second quarter worth $27,000. Redwood Wealth Management Group LLC bought a new stake in shares of Matson during the second quarter worth about $34,000. International Assets Investment Management LLC purchased a new stake in shares of Matson in the second quarter worth approximately $39,000. Harbor Capital Advisors Inc. bought a new position in Matson during the 3rd quarter valued at $50,000. Finally, Blue Trust Inc. lifted its position in shares of Matson by 226.9% during the second quarter. Blue Trust Inc. now owns 595 shares of the shipping company’s stock valued at $78,000 after purchasing an additional 413 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Stephens boosted their price objective on Matson from $155.00 to $160.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. StockNews.com cut shares of Matson from a “strong-buy” rating to a “buy” rating in a report on Friday, September 6th. Finally, Wolfe Research downgraded shares of Matson from an “outperform” rating to a “peer perform” rating in a report on Monday, November 18th.

Insider Buying and Selling at Matson

In other Matson news, CEO Matthew J. Cox sold 7,500 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $137.17, for a total transaction of $1,028,775.00. Following the completion of the sale, the chief executive officer now directly owns 215,397 shares in the company, valued at $29,546,006.49. This represents a 3.36 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Rusty K. Rolfe sold 3,000 shares of Matson stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $165.97, for a total value of $497,910.00. Following the completion of the transaction, the executive vice president now owns 21,871 shares in the company, valued at approximately $3,629,929.87. This represents a 12.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,645 shares of company stock worth $3,677,960 over the last ninety days. Insiders own 2.32% of the company’s stock.

Matson Trading Up 0.9 %

Shares of Matson stock opened at $153.95 on Monday. Matson, Inc. has a 1 year low of $93.75 and a 1 year high of $169.12. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.13 and a quick ratio of 1.13. The firm has a market cap of $5.11 billion, a PE ratio of 12.81 and a beta of 1.06. The company has a 50 day simple moving average of $144.02 and a two-hundred day simple moving average of $132.76.

Matson (NYSE:MATX) last issued its quarterly earnings results on Wednesday, October 30th. The shipping company reported $5.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.98 by $0.91. The firm had revenue of $962.00 million during the quarter, compared to analyst estimates of $965.73 million. Matson had a return on equity of 16.89% and a net margin of 12.37%. The company’s revenue was up 16.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.40 earnings per share. Analysts expect that Matson, Inc. will post 13.19 earnings per share for the current fiscal year.

Matson Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 7th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 0.88%. The ex-dividend date of this dividend is Thursday, November 7th. Matson’s dividend payout ratio is currently 11.31%.

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.