Paloma Partners Management Co Acquires New Shares in Matson, Inc. (NYSE:MATX)

Paloma Partners Management Co bought a new position in Matson, Inc. (NYSE:MATX) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 7,787 shares of the shipping company’s stock, valued at approximately $875,000.

Several other institutional investors have also recently bought and sold shares of the company. SummerHaven Investment Management LLC increased its holdings in shares of Matson by 1.2% during the 4th quarter. SummerHaven Investment Management LLC now owns 9,379 shares of the shipping company’s stock worth $1,028,000 after purchasing an additional 108 shares during the period. Astoria Portfolio Advisors LLC. increased its holdings in shares of Matson by 5.8% during the 1st quarter. Astoria Portfolio Advisors LLC. now owns 2,089 shares of the shipping company’s stock worth $229,000 after purchasing an additional 114 shares during the period. U S Global Investors Inc. increased its holdings in shares of Matson by 13.4% during the 4th quarter. U S Global Investors Inc. now owns 997 shares of the shipping company’s stock worth $109,000 after purchasing an additional 118 shares during the period. Measured Wealth Private Client Group LLC increased its holdings in shares of Matson by 6.4% during the 1st quarter. Measured Wealth Private Client Group LLC now owns 2,332 shares of the shipping company’s stock worth $262,000 after purchasing an additional 140 shares during the period. Finally, Vanguard Personalized Indexing Management LLC increased its holdings in shares of Matson by 3.9% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 4,236 shares of the shipping company’s stock worth $464,000 after purchasing an additional 160 shares during the period. Institutional investors own 84.76% of the company’s stock.

Insider Buying and Selling at Matson

In other news, CFO Joel M. Wine sold 8,000 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $128.89, for a total transaction of $1,031,120.00. Following the transaction, the chief financial officer now directly owns 106,974 shares in the company, valued at $13,787,878.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Joel M. Wine sold 8,000 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $128.89, for a total transaction of $1,031,120.00. Following the transaction, the chief financial officer now directly owns 106,974 shares in the company, valued at $13,787,878.86. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Matthew J. Cox sold 7,843 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $130.54, for a total transaction of $1,023,825.22. Following the transaction, the chief executive officer now owns 230,397 shares in the company, valued at $30,076,024.38. The disclosure for this sale can be found here. Insiders have sold a total of 66,624 shares of company stock worth $8,447,299 over the last ninety days. Corporate insiders own 2.32% of the company’s stock.

Wall Street Analysts Forecast Growth

MATX has been the topic of several research reports. Stifel Nicolaus boosted their price objective on shares of Matson from $109.00 to $111.00 and gave the stock a “hold” rating in a report on Wednesday, May 1st. StockNews.com raised shares of Matson from a “hold” rating to a “buy” rating in a research note on Wednesday, July 3rd. Finally, Stephens reissued an “overweight” rating and issued a $135.00 target price on shares of Matson in a research note on Friday, May 24th.

Matson Price Performance

NYSE MATX traded up $1.63 on Monday, reaching $131.99. The company’s stock had a trading volume of 320,705 shares, compared to its average volume of 267,864. The firm has a market cap of $4.61 billion, a PE ratio of 15.52 and a beta of 1.09. The business has a 50-day moving average price of $125.06 and a 200 day moving average price of $116.52. Matson, Inc. has a 52 week low of $82.68 and a 52 week high of $133.88. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.16.

Matson (NYSE:MATX) last released its quarterly earnings results on Tuesday, April 30th. The shipping company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $0.99 by $0.05. The firm had revenue of $722.10 million for the quarter, compared to analyst estimates of $730.44 million. Matson had a net margin of 9.61% and a return on equity of 12.66%. The company’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.94 earnings per share. Sell-side analysts expect that Matson, Inc. will post 10.1 EPS for the current year.

Matson Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 5th. Shareholders of record on Thursday, August 1st will be given a $0.34 dividend. The ex-dividend date of this dividend is Thursday, August 1st. This is a positive change from Matson’s previous quarterly dividend of $0.32. This represents a $1.36 dividend on an annualized basis and a yield of 1.03%. Matson’s payout ratio is 15.09%.

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.