Dimensional Fund Advisors LP lifted its holdings in Matson Inc (NYSE:MATX) by 1.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,639,472 shares of the shipping company’s stock after acquiring an additional 36,187 shares during the period. Dimensional Fund Advisors LP owned approximately 0.06% of Matson worth $101,303,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in MATX. Legal & General Group Plc grew its holdings in Matson by 2.4% during the 1st quarter. Legal & General Group Plc now owns 78,909 shares of the shipping company’s stock valued at $2,247,000 after purchasing an additional 1,831 shares in the last quarter. Allianz Asset Management GmbH acquired a new stake in Matson during the 1st quarter valued at $1,280,000. CKW Financial Group grew its holdings in Matson by 20.8% during the 2nd quarter. CKW Financial Group now owns 17,422 shares of the shipping company’s stock valued at $669,000 after purchasing an additional 3,000 shares in the last quarter. Mackay Shields LLC grew its holdings in Matson by 97.1% during the 2nd quarter. Mackay Shields LLC now owns 82,200 shares of the shipping company’s stock valued at $3,155,000 after purchasing an additional 40,500 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its holdings in Matson by 8.9% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 364,957 shares of the shipping company’s stock valued at $10,453,000 after purchasing an additional 29,848 shares in the last quarter. 85.48% of the stock is owned by institutional investors.

In other Matson news, President Ronald J. Forest sold 1,000 shares of the stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $36.00, for a total transaction of $36,000.00. Following the transaction, the president now directly owns 63,884 shares in the company, valued at approximately $2,299,824. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 3,000 shares of company stock worth $111,400 over the last quarter. 2.48% of the stock is currently owned by insiders.

NYSE MATX opened at $36.23 on Monday. Matson Inc has a 12 month low of $25.67 and a 12 month high of $40.32. The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.90 and a current ratio of 0.90. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of 20.35, a P/E/G ratio of 3.07 and a beta of 1.33.

Matson (NYSE:MATX) last posted its quarterly earnings data on Tuesday, July 31st. The shipping company reported $0.76 EPS for the quarter, beating the Zacks’ consensus estimate of $0.66 by $0.10. Matson had a net margin of 11.64% and a return on equity of 14.40%. The firm had revenue of $557.10 million for the quarter, compared to the consensus estimate of $526.28 million. During the same period in the prior year, the firm posted $0.55 EPS. The firm’s revenue was up 8.7% compared to the same quarter last year. research analysts expect that Matson Inc will post 2.36 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 6th. Shareholders of record on Thursday, August 2nd were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 2.32%. This is an increase from Matson’s previous quarterly dividend of $0.20. The ex-dividend date was Wednesday, August 1st. Matson’s dividend payout ratio is 47.19%.

A number of equities research analysts recently weighed in on MATX shares. ValuEngine lowered shares of Matson from a “buy” rating to a “hold” rating in a report on Tuesday, July 24th. TheStreet raised shares of Matson from a “c+” rating to a “b-” rating in a report on Thursday, May 24th. Zacks Investment Research raised shares of Matson from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a report on Wednesday, July 4th. Finally, Stifel Nicolaus raised their price target on shares of Matson from $38.00 to $43.00 and gave the company a “buy” rating in a report on Wednesday, August 1st. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $39.00.

Matson Company Profile

Matson, Inc provides ocean transportation and logistics services. The company's Ocean Transportation segment offers ocean freight transportation services to the domestic non-contiguous economies of Hawaii, Alaska, and Guam, as well as to other island economies in Micronesia. It primarily transports dry containers of mixed commodities, refrigerated commodities, packaged foods and beverages, building materials, automobiles, and household goods; livestock; seafood; general sustenance cargo; and garments, footwear, and other retail merchandise.

See Also: Hedge Funds

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Institutional Ownership by Quarter for Matson (NYSE:MATX)

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