Curat Global LLC Sells 110 Shares of Matson, Inc. $MATX

Curat Global LLC cut its stake in shares of Matson, Inc. (NYSE:MATX) by 13.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 704 shares of the shipping company’s stock after selling 110 shares during the quarter. Curat Global LLC’s holdings in Matson were worth $78,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brooklyn Investment Group bought a new position in shares of Matson during the first quarter valued at $34,000. State of Wyoming increased its holdings in shares of Matson by 495.3% during the first quarter. State of Wyoming now owns 381 shares of the shipping company’s stock valued at $49,000 after acquiring an additional 317 shares in the last quarter. IFP Advisors Inc increased its holdings in shares of Matson by 42.6% during the second quarter. IFP Advisors Inc now owns 442 shares of the shipping company’s stock valued at $49,000 after acquiring an additional 132 shares in the last quarter. NewEdge Advisors LLC bought a new position in shares of Matson during the first quarter valued at $78,000. Finally, Covestor Ltd increased its holdings in shares of Matson by 30.4% during the first quarter. Covestor Ltd now owns 764 shares of the shipping company’s stock valued at $98,000 after acquiring an additional 178 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Jefferies Financial Group restated a “hold” rating and set a $115.00 price target on shares of Matson in a report on Friday, August 1st. Zacks Research upgraded Matson from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 16th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Matson in a research report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, Matson currently has an average rating of “Hold” and a consensus target price of $131.67.

Insider Activity

In other Matson news, SVP Christopher A. Scott sold 1,044 shares of the business’s stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $109.94, for a total transaction of $114,777.36. Following the completion of the sale, the senior vice president directly owned 13,441 shares in the company, valued at $1,477,703.54. The trade was a 7.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.05% of the stock is currently owned by corporate insiders.

Matson Price Performance

Shares of NYSE:MATX opened at $93.20 on Monday. Matson, Inc. has a fifty-two week low of $86.97 and a fifty-two week high of $169.12. The business has a 50-day simple moving average of $100.77 and a two-hundred day simple moving average of $106.06. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.78 and a current ratio of 0.78. The firm has a market cap of $2.96 billion, a price-to-earnings ratio of 6.30 and a beta of 1.21.

Matson (NYSE:MATX) last issued its earnings results on Thursday, July 31st. The shipping company reported $2.92 earnings per share for the quarter, topping analysts’ consensus estimates of $2.18 by $0.74. Matson had a return on equity of 18.90% and a net margin of 14.26%.The business had revenue of $830.50 million during the quarter, compared to analyst estimates of $727.30 million. During the same quarter in the previous year, the firm earned $3.31 EPS. Matson’s revenue was down 2.0% on a year-over-year basis. On average, analysts expect that Matson, Inc. will post 13.27 earnings per share for the current year.

Matson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 4th. Shareholders of record on Thursday, November 6th will be paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date is Thursday, November 6th. Matson’s payout ratio is currently 9.74%.

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.