Fox Run Management L.L.C. Buys 6,576 Shares of Matson, Inc. $MATX

Fox Run Management L.L.C. grew its stake in Matson, Inc. (NYSE:MATX) by 242.1% during the 4th quarter, HoldingsChannel reports. The firm owned 9,292 shares of the shipping company’s stock after acquiring an additional 6,576 shares during the quarter. Fox Run Management L.L.C.’s holdings in Matson were worth $1,148,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. EverSource Wealth Advisors LLC grew its stake in shares of Matson by 57.3% in the 4th quarter. EverSource Wealth Advisors LLC now owns 258 shares of the shipping company’s stock valued at $32,000 after purchasing an additional 94 shares during the period. Linden Thomas Advisory Services LLC grew its stake in shares of Matson by 0.4% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 29,456 shares of the shipping company’s stock valued at $3,639,000 after purchasing an additional 109 shares during the period. Federated Hermes Inc. grew its stake in shares of 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 purchasing an additional 138 shares during the period. Xponance Inc. grew its stake in shares of Matson by 6.1% in the 3rd quarter. Xponance Inc. now owns 2,849 shares of the shipping company’s stock valued at $281,000 after purchasing an additional 165 shares during the period. Finally, Amundi grew its stake in shares of Matson by 3.1% in the 3rd quarter. Amundi now owns 5,637 shares of the shipping company’s stock valued at $557,000 after purchasing an additional 168 shares during the period. 84.76% of the stock is currently owned by institutional investors.

Insider Activity

In other Matson news, SVP Laura L. Rascon sold 2,800 shares of the company’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $188.53, for a total transaction of $527,884.00. Following the transaction, the senior vice president owned 15,656 shares of the company’s stock, valued at approximately $2,951,625.68. This represents a 15.17% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Christopher A. Scott sold 3,305 shares of the company’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $180.14, for a total value of $595,362.70. Following the transaction, the senior vice president directly owned 11,228 shares in the company, valued at approximately $2,022,611.92. This represents a 22.74% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 23,963 shares of company stock worth $4,349,268. 2.51% of the stock is owned by company insiders.

Matson Stock Up 1.2%

NYSE MATX opened at $194.60 on Wednesday. The stock’s 50 day simple moving average is $177.77 and its 200 day simple moving average is $155.03. Matson, Inc. has a one year low of $86.97 and a one year high of $197.63. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market cap of $5.89 billion, a PE ratio of 14.30 and a beta of 1.29.

Matson (NYSE:MATX) last posted its quarterly earnings data on Monday, May 4th. The shipping company reported $1.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.65 by $0.20. Matson had a return on equity of 15.90% and a net margin of 12.92%.The firm had revenue of $757.80 million for the quarter, compared to the consensus estimate of $777.55 million. During the same quarter in the prior year, the business earned $2.18 EPS. The business’s revenue for the quarter was down 3.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Matson, Inc. will post 13.96 earnings per share for the current fiscal year.

Matson Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 4th. Shareholders of record on Thursday, May 7th were issued a dividend of $0.36 per share. The ex-dividend date of this dividend was Thursday, May 7th. This represents a $1.44 annualized dividend and a yield of 0.7%. Matson’s dividend payout ratio is currently 10.58%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on MATX shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Matson in a research note on Friday, May 29th. JPMorgan Chase & Co. started coverage on Matson in a research report on Monday, April 27th. They set an “overweight” rating and a $230.00 price target on the stock. Zacks Research upgraded Matson to a “hold” rating in a research report on Wednesday, April 29th. Finally, Wall Street Zen lowered Matson from a “buy” rating to a “hold” rating in a research report on Sunday, March 15th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $181.25.

Matson 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.