Caisse de depot et placement du Quebec Takes Position in Matson, Inc. $MATX

Caisse de depot et placement du Quebec purchased a new stake in Matson, Inc. (NYSE:MATX) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 238,234 shares of the shipping company’s stock, valued at approximately $45,796,000. Caisse de depot et placement du Quebec owned about 0.80% of Matson as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Danske Bank A S acquired a new stake in Matson in the 4th quarter valued at about $25,000. Allworth Financial LP bought a new stake in shares of Matson during the second quarter valued at approximately $28,000. Headlands Technologies LLC acquired a new stake in shares of Matson in the second quarter valued at approximately $28,000. Measured Wealth Private Client Group LLC acquired a new stake in shares of Matson in the third quarter valued at approximately $30,000. Finally, SouthState Bank Corp bought a new position in Matson in the 4th quarter worth approximately $31,000. Institutional investors own 84.76% of the company’s stock.

Insider Buying and Selling

In related news, EVP Peter T. Heilmann sold 5,000 shares of the company’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $220.15, for a total value of $1,100,750.00. Following the completion of the sale, the executive vice president owned 20,506 shares in the company, valued at $4,514,395.90. This represents a 19.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Leonard P. Isotoff sold 1,250 shares of the firm’s stock in a transaction 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 sale, the senior vice president directly owned 6,527 shares in the company, valued at $1,359,574.10. The trade was a 16.07% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 15,262 shares of company stock worth $3,223,716 over the last ninety days. Insiders own 2.51% of the company’s stock.

Matson Price Performance

Matson stock opened at $222.37 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $6.65 billion, a P/E ratio of 14.86 and a beta of 1.27. The business has a 50-day moving average of $208.72 and a 200-day moving average of $185.44. Matson, Inc. has a 1 year low of $86.97 and a 1 year high of $230.74.

Matson (NYSE:MATX) last announced its quarterly earnings results on Monday, August 3rd. The shipping company reported $4.27 earnings per share for the quarter, beating analysts’ consensus estimates of $3.79 by $0.48. The business had revenue of $969.40 million for the quarter, compared to the consensus estimate of $893.91 million. Matson had a net margin of 13.41% and a return on equity of 16.94%. Matson’s revenue for the quarter was up 16.7% on a year-over-year basis. During the same period last year, the company posted $2.92 EPS. On average, equities analysts anticipate that Matson, Inc. will post 16.01 EPS for the current year.

Matson Increases Dividend

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

Wall Street Analyst Weigh In

MATX has been the subject of several research reports. Wall Street Zen cut Matson from a “buy” rating to a “hold” rating in a research note on Saturday, August 22nd. Weiss Ratings upgraded Matson from a “hold (c)” rating to a “buy (b-)” rating in a report on Thursday, August 6th. Zacks Research upgraded Matson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 6th. JPMorgan Chase & Co. boosted their price objective on Matson from $230.00 to $270.00 and gave the stock an “overweight” rating in a report on Tuesday, August 4th. Finally, Stephens raised their target price on shares of Matson from $240.00 to $260.00 and gave the company an “overweight” rating in a research note on Tuesday, August 4th. One analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $232.33.

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.