Artemis Investment Management LLP Grows Position in Matson, Inc. (NYSE:MATX)

Artemis Investment Management LLP grew its stake in shares of Matson, Inc. (NYSE:MATX) by 31.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 75,070 shares of the shipping company’s stock after purchasing an additional 17,992 shares during the quarter. Artemis Investment Management LLP owned approximately 0.21% of Matson worth $9,832,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. SummerHaven Investment Management LLC raised its holdings in shares of Matson by 1.2% during the fourth quarter. SummerHaven Investment Management LLC now owns 9,379 shares of the shipping company’s stock valued at $1,028,000 after acquiring an additional 108 shares in the last quarter. Astoria Portfolio Advisors LLC. raised its holdings in shares of Matson by 5.8% during the first quarter. Astoria Portfolio Advisors LLC. now owns 2,089 shares of the shipping company’s stock valued at $229,000 after acquiring an additional 114 shares in the last quarter. U S Global Investors Inc. raised its holdings in shares of Matson by 13.4% during the first quarter. U S Global Investors Inc. now owns 1,131 shares of the shipping company’s stock valued at $127,000 after acquiring an additional 134 shares in the last quarter. Measured Wealth Private Client Group LLC raised its holdings in shares of Matson by 6.4% during the first quarter. Measured Wealth Private Client Group LLC now owns 2,332 shares of the shipping company’s stock valued at $262,000 after acquiring an additional 140 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in shares of Matson by 3.9% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 4,236 shares of the shipping company’s stock valued at $464,000 after acquiring an additional 160 shares in the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Matson Stock Up 0.5 %

Shares of NYSE MATX traded up $0.68 during trading on Monday, reaching $129.87. The company had a trading volume of 52,534 shares, compared to its average volume of 271,264. Matson, Inc. has a 12-month low of $82.68 and a 12-month high of $136.31. The stock has a market cap of $4.54 billion, a PE ratio of 15.25 and a beta of 1.09. The business’s 50-day moving average is $126.95 and its 200 day moving average is $117.54. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.16.

Matson Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 5th. Stockholders of record on Thursday, August 1st will be paid a $0.34 dividend. This is a boost from Matson’s previous quarterly dividend of $0.32. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date is Thursday, August 1st. Matson’s dividend payout ratio is currently 16.04%.

Insider Transactions at Matson

In other news, SVP Laura L. Rascon sold 744 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $129.13, for a total value of $96,072.72. Following the sale, the senior vice president now directly owns 12,369 shares of the company’s stock, valued at $1,597,208.97. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, SVP Laura L. Rascon sold 744 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $129.13, for a total transaction of $96,072.72. Following the sale, the senior vice president now directly owns 12,369 shares of the company’s stock, valued at $1,597,208.97. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Peter T. Heilmann sold 10,000 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $129.37, for a total value of $1,293,700.00. Following the sale, the executive vice president now directly owns 38,356 shares in the company, valued at $4,962,115.72. The disclosure for this sale can be found here. Over the last three months, insiders have sold 92,699 shares of company stock valued at $11,946,758. Insiders own 2.32% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Stephens increased their price objective on Matson from $155.00 to $160.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. StockNews.com upgraded Matson from a “hold” rating to a “buy” rating in a report on Wednesday, July 3rd. Finally, Stifel Nicolaus increased their price objective on Matson from $109.00 to $111.00 and gave the stock a “hold” rating in a report on Wednesday, May 1st.

About Matson

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.