Tidal Investments LLC Trims Holdings in Matson, Inc. $MATX

Tidal Investments LLC trimmed its holdings in Matson, Inc. (NYSE:MATX) by 26.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,314 shares of the shipping company’s stock after selling 7,249 shares during the quarter. Tidal Investments LLC’s holdings in Matson were worth $3,905,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. WINTON GROUP Ltd increased its stake in shares of Matson by 269.3% during the second quarter. WINTON GROUP Ltd now owns 35,230 shares of the shipping company’s stock valued at $6,772,000 after purchasing an additional 25,691 shares in the last quarter. Squarepoint Ops LLC boosted its position in shares of Matson by 247.3% in the 2nd quarter. Squarepoint Ops LLC now owns 21,332 shares of the shipping company’s stock worth $4,101,000 after purchasing an additional 15,189 shares in the last quarter. Baird Financial Group Inc. grew its stake in shares of Matson by 16.1% in the 2nd quarter. Baird Financial Group Inc. now owns 112,722 shares of the shipping company’s stock worth $21,669,000 after buying an additional 15,657 shares during the last quarter. Nykredit A S purchased a new stake in shares of Matson in the 2nd quarter worth approximately $142,000. Finally, California State Teachers Retirement System increased its position in Matson by 14,734.1% during the 2nd quarter. California State Teachers Retirement System now owns 1,706,810 shares of the shipping company’s stock valued at $328,100,000 after buying an additional 1,695,304 shares in the last quarter. 84.76% of the stock is owned by hedge funds and other institutional investors.

Matson Stock Up 2.8%

Matson stock opened at $236.59 on Tuesday. The firm has a market cap of $7.07 billion, a price-to-earnings ratio of 15.81 and a beta of 1.26. The stock has a fifty day simple moving average of $215.43 and a two-hundred day simple moving average of $190.67. Matson, Inc. has a 12 month low of $86.97 and a 12 month high of $237.42. 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 announced its quarterly earnings results on Monday, August 3rd. The shipping company reported $4.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.79 by $0.48. Matson had a return on equity of 16.94% and a net margin of 13.41%.The firm had revenue of $969.40 million for the quarter, compared to the consensus estimate of $893.91 million. During the same period in the prior year, the company posted $2.92 earnings per share. The company’s quarterly revenue was up 16.7% on a year-over-year basis. Equities analysts predict that Matson, Inc. will post 16.01 EPS for the current fiscal year.

Matson Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Thursday, August 6th were paid a dividend of $0.38 per share. The ex-dividend date was Thursday, August 6th. This represents a $1.52 annualized dividend and a yield of 0.6%. This is an increase from Matson’s previous quarterly dividend of $0.36. Matson’s dividend payout ratio (DPR) is currently 10.16%.

Insider Buying and Selling at Matson

In other news, EVP Vic Angoco, Jr. sold 2,293 shares of the firm’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $222.76, for a total transaction of $510,788.68. Following the sale, the executive vice president owned 12,507 shares of the company’s stock, valued at $2,786,059.32. This trade represents a 15.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Leonard Isotoff sold 1,250 shares of Matson stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $208.30, for a total transaction of $260,375.00. Following the completion of the sale, the senior vice president owned 6,527 shares of the company’s stock, valued at $1,359,574.10. This represents a 16.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 12,462 shares of company stock worth $2,695,832. 2.51% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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

Matson Profile

Matson, Inc is a transportation and logistics company that provides ocean shipping and related supply-chain services. Through its Matson Navigation subsidiary, the company transports containerized and non-containerized freight, automobiles, food, household goods, construction materials and other cargo.

Matson operates ocean transportation services connecting the U.S. mainland with Hawaii, Alaska and select destinations in the South Pacific and Micronesia. The company also provides expedited service between China and the United States and maintains logistics operations that support domestic and international freight movement.

Matson Logistics offers intermodal transportation, freight forwarding, warehousing, supply-chain management and other distribution services.