J. Goldman & Co LP Takes Position in Matson, Inc. $MATX

J. Goldman & Co LP acquired a new position in shares of Matson, Inc. (NYSE:MATX) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 46,710 shares of the shipping company’s stock, valued at approximately $8,979,000.

Several other institutional investors also recently bought and sold shares of MATX. Allworth Financial LP purchased a new stake in shares of Matson during the 2nd quarter worth $28,000. Danske Bank A S purchased a new position in shares of Matson during the fourth quarter worth approximately $25,000. Global Retirement Partners LLC acquired a new position in Matson in the second quarter valued at $44,000. SouthState Bank Corp acquired a new position in Matson in the 4th quarter valued at about $31,000. Finally, Headlands Technologies LLC acquired a new position in shares of Matson in the second quarter valued at approximately $28,000. 84.76% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

MATX has been the subject of a number of analyst reports. Stephens increased their target price on Matson from $240.00 to $260.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 4th. Zacks Research upgraded shares of Matson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 6th. Weiss Ratings upgraded Matson from a “hold (c)” rating to a “buy (b-)” rating in a research report on Thursday, August 6th. Wall Street Zen downgraded Matson from a “buy” rating to a “hold” rating in a report on Saturday. Finally, JPMorgan Chase & Co. raised their target price on shares of Matson from $230.00 to $270.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 4th. One equities research analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company. According to MarketBeat, Matson has a consensus rating of “Buy” and an average target price of $232.33.

Matson Price Performance

Shares of MATX stock opened at $222.50 on Wednesday. The firm has a fifty day simple moving average of $207.56 and a 200-day simple moving average of $184.59. The company has a market capitalization of $6.65 billion, a PE ratio of 14.87 and a beta of 1.27. Matson, Inc. has a twelve month low of $86.97 and a twelve month high of $230.74. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.11.

Matson (NYSE:MATX) 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 firm had revenue of $969.40 million for the quarter, compared to analyst estimates of $893.91 million. During the same quarter in the previous year, the business posted $2.92 EPS. The firm’s revenue was up 16.7% compared to the same quarter last year. Equities research analysts anticipate that Matson, Inc. will post 16.01 earnings per share for the current fiscal year.

Matson Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 6th will be paid a dividend of $0.38 per share. This is a boost from Matson’s previous quarterly dividend of $0.36. The ex-dividend date is Thursday, August 6th. This represents a $1.52 dividend on an annualized basis and a yield of 0.7%. Matson’s payout ratio is 10.16%.

Insider Activity

In other Matson news, SVP Leonard P. Isotoff sold 1,250 shares of the company’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 transaction, the senior vice president directly owned 6,527 shares of the company’s stock, valued at $1,359,574.10. This represents a 16.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Vic S. Angoco, Jr. sold 2,293 shares of the stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $222.76, for a total value of $510,788.68. Following the transaction, the executive vice president owned 12,507 shares of the company’s stock, valued at approximately $2,786,059.32. This trade represents a 15.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 16,462 shares of company stock worth $3,444,000 over the last quarter. Corporate insiders own 2.51% of the company’s stock.

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.