SummitTX Capital L.P. Has $11.94 Million Stock Holdings in Matson, Inc. $MATX

SummitTX Capital L.P. raised its position in Matson, Inc. (NYSE:MATX) by 42.8% during the 1st quarter, HoldingsChannel reports. The fund owned 72,827 shares of the shipping company’s stock after buying an additional 21,811 shares during the quarter. SummitTX Capital L.P.’s holdings in Matson were worth $11,939,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Matson by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 3,671,519 shares of the shipping company’s stock worth $453,616,000 after acquiring an additional 21,516 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Matson by 1.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,982,793 shares of the shipping company’s stock worth $244,975,000 after purchasing an additional 21,463 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of Matson by 27.9% in the second quarter. Ameriprise Financial Inc. now owns 590,763 shares of the shipping company’s stock worth $65,770,000 after purchasing an additional 128,994 shares in the last quarter. Millennium Management LLC boosted its holdings in Matson by 144.9% during the third quarter. Millennium Management LLC now owns 455,133 shares of the shipping company’s stock worth $44,872,000 after purchasing an additional 269,310 shares during the last quarter. Finally, Morgan Stanley boosted its holdings in Matson by 1.3% during the fourth quarter. Morgan Stanley now owns 430,292 shares of the shipping company’s stock worth $53,163,000 after purchasing an additional 5,709 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Activity at Matson

In related news, SVP Kuuhaku T. Park sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $180.19, for a total value of $450,475.00. Following the completion of the sale, the senior vice president directly owned 10,984 shares in the company, valued at approximately $1,979,206.96. This trade represents a 18.54% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Christopher A. Scott sold 3,305 shares of Matson stock in a transaction dated 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 owned 11,228 shares of the company’s stock, valued at $2,022,611.92. The trade was a 22.74% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 23,963 shares of company stock worth $4,349,268 over the last ninety days. Company insiders own 2.51% of the company’s stock.

Analyst Upgrades and Downgrades

MATX has been the subject of a number of analyst reports. JPMorgan Chase & Co. began coverage on shares of Matson in a research report on Monday, April 27th. They issued an “overweight” rating and a $230.00 target price for the company. Zacks Research upgraded shares of Matson to a “hold” rating in a research note on Wednesday, April 29th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Matson in a report on Friday, May 29th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $181.25.

Matson Trading Up 0.1%

NYSE MATX opened at $210.84 on Monday. The company has a market cap of $6.38 billion, a PE ratio of 15.49 and a beta of 1.28. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.11. Matson, Inc. has a 12 month low of $86.97 and a 12 month high of $230.74. The stock has a 50 day moving average of $197.21 and a 200-day moving average of $174.79.

Matson (NYSE:MATX) last released its earnings results on Monday, May 4th. The shipping company reported $1.85 earnings per share 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 analysts’ expectations of $777.55 million. Matson had a net margin of 12.92% and a return on equity of 15.90%. The firm’s revenue was down 3.1% on a year-over-year basis. During the same period last year, the business earned $2.18 earnings per share. On average, equities research analysts anticipate that Matson, Inc. will post 14.16 EPS for the current fiscal year.

Matson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Stockholders of record on Thursday, August 6th will be given a $0.38 dividend. This is a boost from Matson’s previous quarterly dividend of $0.36. The ex-dividend date of this dividend is Thursday, August 6th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.7%. Matson’s payout ratio is 10.58%.

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.