Empowered Funds LLC Purchases Shares of 38,770 Matson, Inc. (NYSE:MATX)

Empowered Funds LLC purchased a new stake in shares of Matson, Inc. (NYSE:MATXGet Rating) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 38,770 shares of the shipping company’s stock, valued at approximately $4,676,000. Empowered Funds LLC owned about 0.09% of Matson at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cetera Investment Advisers bought a new stake in Matson during the fourth quarter valued at $714,000. Bank of New York Mellon Corp raised its holdings in shares of Matson by 3.2% during the third quarter. Bank of New York Mellon Corp now owns 632,887 shares of the shipping company’s stock valued at $51,080,000 after purchasing an additional 19,847 shares during the period. American Century Companies Inc. raised its holdings in shares of Matson by 64.0% during the fourth quarter. American Century Companies Inc. now owns 193,585 shares of the shipping company’s stock valued at $17,428,000 after purchasing an additional 75,531 shares during the period. Brinker Capital Investments LLC acquired a new position in shares of Matson during the fourth quarter valued at about $247,000. Finally, Panagora Asset Management Inc. acquired a new position in shares of Matson during the fourth quarter valued at about $618,000. 85.85% of the stock is currently owned by institutional investors and hedge funds.

In other Matson news, CEO Matthew J. Cox sold 5,000 shares of the company’s stock in a transaction dated Tuesday, May 3rd. The shares were sold at an average price of $88.70, for a total value of $443,500.00. Following the completion of the sale, the chief executive officer now directly owns 274,976 shares of the company’s stock, valued at approximately $24,390,371.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Richard S. Kinney sold 470 shares of the company’s stock in a transaction dated Friday, June 24th. The stock was sold at an average price of $72.51, for a total transaction of $34,079.70. Following the completion of the sale, the senior vice president now directly owns 8,975 shares of the company’s stock, valued at $650,777.25. The disclosure for this sale can be found here. Insiders sold a total of 22,983 shares of company stock worth $1,971,371 in the last 90 days. 1.90% of the stock is currently owned by company insiders.

MATX opened at $73.54 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.43 and a quick ratio of 1.43. Matson, Inc. has a fifty-two week low of $62.34 and a fifty-two week high of $125.34. The firm has a market capitalization of $2.98 billion, a PE ratio of 2.64 and a beta of 1.04. The company’s 50-day moving average is $83.84 and its 200 day moving average is $92.37.

Matson (NYSE:MATXGet Rating) last posted its earnings results on Tuesday, May 3rd. The shipping company reported $8.23 earnings per share for the quarter, topping analysts’ consensus estimates of $8.13 by $0.10. Matson had a net margin of 26.93% and a return on equity of 77.39%. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.18 billion. During the same quarter in the prior year, the business posted $1.99 EPS. The firm’s revenue was up 63.7% compared to the same quarter last year. As a group, analysts expect that Matson, Inc. will post 28.85 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Thursday, August 4th will be issued a $0.31 dividend. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date is Wednesday, August 3rd. This is a positive change from Matson’s previous quarterly dividend of $0.30. Matson’s dividend payout ratio is currently 4.31%.

MATX has been the topic of several research reports. Stifel Nicolaus upped their price objective on shares of Matson from $98.00 to $131.00 and gave the company a “buy” rating in a report on Monday, March 14th. StockNews.com upgraded shares of Matson from a “buy” rating to a “strong-buy” rating in a report on Wednesday, May 4th.

Matson Company Profile (Get Rating)

Matson, Inc, together with its subsidiaries, 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.

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Institutional Ownership by Quarter for Matson (NYSE:MATX)

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