Sierra Summit Advisors LLC Grows Stock Position in Matson, Inc. $MATX

Sierra Summit Advisors LLC increased its position in Matson, Inc. (NYSE:MATX) by 28.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,969 shares of the shipping company’s stock after purchasing an additional 1,328 shares during the quarter. Sierra Summit Advisors LLC’s holdings in Matson were worth $665,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in MATX. Cerity Partners LLC lifted its holdings in Matson by 4.6% in the 1st quarter. Cerity Partners LLC now owns 2,637 shares of the shipping company’s stock worth $338,000 after buying an additional 117 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH grew its stake in shares of Matson by 10.3% during the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 28,644 shares of the shipping company’s stock valued at $3,671,000 after acquiring an additional 2,671 shares in the last quarter. Cetera Investment Advisers increased its position in shares of Matson by 14.3% during the first quarter. Cetera Investment Advisers now owns 4,069 shares of the shipping company’s stock worth $522,000 after acquiring an additional 509 shares during the last quarter. Assetmark Inc. lifted its stake in shares of Matson by 8.0% in the first quarter. Assetmark Inc. now owns 54,183 shares of the shipping company’s stock worth $6,945,000 after acquiring an additional 4,019 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ purchased a new position in Matson in the first quarter valued at about $461,000. 84.76% of the stock is owned by institutional investors and hedge funds.

Matson Price Performance

Shares of NYSE MATX opened at $105.32 on Monday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $3.28 billion, a price-to-earnings ratio of 7.12 and a beta of 1.32. Matson, Inc. has a twelve month low of $86.97 and a twelve month high of $158.16. The business has a 50 day simple moving average of $100.70 and a 200-day simple moving average of $106.29.

Matson (NYSE:MATX) last announced its quarterly earnings data on Tuesday, November 4th. The shipping company reported $4.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.25 by $0.99. Matson had a return on equity of 18.90% and a net margin of 14.26%.The firm had revenue of $880.10 million for the quarter, compared to analysts’ expectations of $837.72 million. During the same period last year, the business posted $5.89 earnings per share. The firm’s revenue for the quarter was down 8.5% on a year-over-year basis. As a group, equities research analysts expect that Matson, Inc. will post 13.27 earnings per share for the current year.

Matson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 4th. Investors of record on Thursday, November 6th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Thursday, November 6th. Matson’s dividend payout ratio is currently 10.96%.

Analysts Set New Price Targets

Several research firms have issued reports on MATX. Jefferies Financial Group restated a “hold” rating and set a $115.00 price objective on shares of Matson in a report on Friday, August 1st. Zacks Research raised shares of Matson from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 16th. Weiss Ratings restated a “hold (c)” rating on shares of Matson in a research note on Monday, November 17th. Wolfe Research raised shares of Matson from a “peer perform” rating to an “outperform” rating and set a $142.00 price target on the stock in a report on Friday, November 7th. Finally, Stephens raised their price objective on shares of Matson from $160.00 to $180.00 and gave the stock an “overweight” rating in a report on Wednesday, November 5th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $141.75.

Matson Company Profile

Matson, Inc, together with its subsidiaries, engages in the provision of ocean transportation and logistics services. It operates through two segments, Ocean Transportation and Logistics. The Ocean Transportation segment offers ocean freight transportation services to the domestic non-contiguous economies of Hawaii, Japan, Alaska, and Guam, as well as to other island economies in Micronesia.