Matson, Inc. $MATX Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. grew its stake in Matson, Inc. (NYSE:MATX) by 0.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,671,519 shares of the shipping company’s stock after purchasing an additional 21,516 shares during the period. Vanguard Group Inc. owned approximately 0.12% of Matson worth $453,616,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently added to or reduced their stakes in the company. Federated Hermes Inc. grew its holdings in Matson by 124.3% in the 3rd quarter. Federated Hermes Inc. now owns 249 shares of the shipping company’s stock valued at $25,000 after buying an additional 138 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of Matson during the 2nd quarter valued at about $28,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Matson in the third quarter valued at about $30,000. Ameriflex Group Inc. grew its holdings in shares of Matson by 100.8% in the third quarter. Ameriflex Group Inc. now owns 510 shares of the shipping company’s stock valued at $50,000 after purchasing an additional 256 shares during the period. Finally, State of Wyoming increased its position in Matson by 482.8% during the third quarter. State of Wyoming now owns 542 shares of the shipping company’s stock worth $53,000 after purchasing an additional 449 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Matson Stock Up 9.4%

Shares of NYSE:MATX opened at $186.97 on Wednesday. The firm has a market capitalization of $5.69 billion, a PE ratio of 13.74 and a beta of 1.30. Matson, Inc. has a 1 year low of $86.97 and a 1 year high of $187.26. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.89 and a quick ratio of 0.89. The firm’s 50-day moving average is $165.70 and its two-hundred day moving average is $140.42.

Matson (NYSE:MATX) last posted its quarterly earnings data on Monday, May 4th. The shipping company reported $1.85 EPS for the quarter, beating the consensus estimate of $1.65 by $0.20. The business had revenue of $757.80 million during the quarter, compared to analyst estimates of $777.55 million. Matson had a net margin of 12.92% and a return on equity of 15.96%. The business’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same quarter last year, the firm posted $2.18 earnings per share. Analysts predict that Matson, Inc. will post 13.79 EPS for the current year.

Matson Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 4th. Shareholders of record on Thursday, May 7th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Thursday, May 7th. Matson’s dividend payout ratio (DPR) is currently 10.33%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on MATX shares. Wall Street Zen lowered shares of Matson from a “buy” rating to a “hold” rating in a report on Sunday, March 15th. Wolfe Research restated an “outperform” rating and set a $167.00 price target on shares of Matson in a report on Thursday, January 8th. JPMorgan Chase & Co. assumed coverage on shares of Matson in a research report on Monday, April 27th. They set an “overweight” rating and a $230.00 price target on the stock. Stephens upped their price objective on Matson from $190.00 to $213.00 and gave the company an “overweight” rating in a report on Wednesday, January 21st. Finally, Zacks Research upgraded Matson to a “hold” rating in a research report on Wednesday, April 29th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Matson currently has a consensus rating of “Moderate Buy” and a consensus price target of $181.25.

Insiders Place Their Bets

In other news, EVP Vic S. Angoco, Jr. sold 6,189 shares of the stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $165.31, for a total value of $1,023,103.59. Following the sale, the executive vice president directly owned 14,800 shares in the company, valued at approximately $2,446,588. This trade represents a 29.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Kevin L. Stuck sold 2,524 shares of Matson stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $167.08, for a total value of $421,709.92. Following the completion of the transaction, the vice president owned 2,331 shares of the company’s stock, valued at approximately $389,463.48. This trade represents a 51.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 42,550 shares of company stock valued at $7,034,602. Corporate insiders own 2.51% of the company’s stock.

About Matson

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.