Summit Global Investments bought a new stake in shares of Matson, Inc. (NYSE:MATX – Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 7,271 shares of the shipping company’s stock, valued at approximately $1,398,000.
A number of other large investors also recently added to or reduced their stakes in MATX. Royal Bank of Canada grew its holdings in Matson by 8.3% during the 1st quarter. Royal Bank of Canada now owns 41,346 shares of the shipping company’s stock valued at $5,300,000 after buying an additional 3,155 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Matson by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 19,511 shares of the shipping company’s stock worth $2,501,000 after buying an additional 863 shares in the last quarter. Millennium Management LLC boosted its position in shares of Matson by 7.1% during the first quarter. Millennium Management LLC now owns 102,629 shares of the shipping company’s stock worth $13,154,000 after acquiring an additional 6,778 shares during the last quarter. NewEdge Advisors LLC bought a new position in shares of Matson during the first quarter worth $78,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Matson by 11.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 24,459 shares of the shipping company’s stock valued at $3,135,000 after acquiring an additional 2,492 shares in the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other news, SVP Leonard P. Isotoff sold 1,250 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $208.30, for a total value of $260,375.00. Following the completion of the sale, the senior vice president directly owned 6,527 shares of the company’s stock, valued at $1,359,574.10. This trade represents a 16.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Laura L. Rascon sold 2,800 shares of the firm’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $188.53, for a total value of $527,884.00. Following the completion of the sale, the senior vice president directly owned 15,656 shares of the company’s stock, valued at $2,951,625.68. The trade was a 15.17% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 10,089 shares of company stock valued at $1,975,717 in the last quarter. 2.51% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
Check Out Our Latest Stock Report on Matson
Matson Price Performance
MATX stock opened at $217.75 on Friday. Matson, Inc. has a 52 week low of $86.97 and a 52 week high of $230.74. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.11. The company has a fifty day simple moving average of $204.18 and a two-hundred day simple moving average of $181.55. The firm has a market capitalization of $6.51 billion, a P/E ratio of 14.56 and a beta of 1.27.
Matson (NYSE:MATX – Get Free Report) last issued its quarterly earnings data on Monday, August 3rd. The shipping company reported $4.27 EPS for the quarter, topping analysts’ consensus estimates of $3.79 by $0.48. Matson had a net margin of 13.41% and a return on equity of 16.94%. The business had revenue of $969.40 million during the quarter, compared to analysts’ expectations of $893.91 million. During the same period last year, the company posted $2.92 EPS. The business’s revenue was up 16.7% on a year-over-year basis. Analysts anticipate that Matson, Inc. will post 16.01 earnings per share for the current fiscal year.
Matson Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 3rd. Investors of record on Thursday, August 6th will be given a $0.38 dividend. This is an increase from Matson’s previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a yield of 0.7%. The ex-dividend date is Thursday, August 6th. Matson’s dividend payout ratio (DPR) is 10.16%.
Matson Company Profile
Matson, Inc (NYSE: MATX) is a U.S.-based provider of ocean transportation and supply chain logistics services with a focus on Pacific trade lanes. The company operates a fleet of container ships that regularly service Hawaii, Alaska, Guam, Micronesia and other Pacific islands, as well as mainland U.S. ports. Matson’s ocean transportation segment offers scheduled liner services, expedited shipping options and specialized project cargo handling for industries ranging from retail to heavy machinery.
In addition to its core liner operations, Matson offers ocean transportation services between Asia and the U.S.
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