Y Intercept Hong Kong Ltd Has $3.64 Million Stock Position in Matson, Inc. $MATX

Y Intercept Hong Kong Ltd lifted its position in shares of Matson, Inc. (NYSE:MATX) by 804.0% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 32,671 shares of the shipping company’s stock after buying an additional 29,057 shares during the quarter. Y Intercept Hong Kong Ltd owned about 0.10% of Matson worth $3,638,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC lifted its holdings in shares of Matson by 11.7% during the first quarter. GAMMA Investing LLC now owns 1,373 shares of the shipping company’s stock worth $176,000 after buying an additional 144 shares in the last quarter. Raymond James Financial Inc. lifted its holdings in shares of Matson by 91.6% during the first quarter. Raymond James Financial Inc. now owns 61,500 shares of the shipping company’s stock worth $7,883,000 after buying an additional 29,400 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Matson by 8.9% during the first quarter. Envestnet Asset Management Inc. now owns 96,669 shares of the shipping company’s stock worth $12,390,000 after buying an additional 7,920 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Matson by 10.9% during the first quarter. Ameriprise Financial Inc. now owns 461,769 shares of the shipping company’s stock worth $59,188,000 after buying an additional 45,296 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in Matson by 2.9% in the first quarter. Principal Financial Group Inc. now owns 186,236 shares of the shipping company’s stock valued at $23,870,000 after purchasing an additional 5,280 shares in the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Transactions at Matson

In other Matson news, SVP Christopher A. Scott sold 1,044 shares of Matson stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $109.94, for a total value of $114,777.36. Following the transaction, the senior vice president owned 13,441 shares in the company, valued at $1,477,703.54. The trade was a 7.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.05% of the stock is currently owned by corporate insiders.

Matson Stock Performance

Matson stock opened at $98.61 on Thursday. Matson, Inc. has a 12-month low of $86.97 and a 12-month high of $169.12. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.13. The business’s 50-day moving average price is $100.41 and its two-hundred day moving average price is $105.94. The stock has a market cap of $3.13 billion, a PE ratio of 6.67 and a beta of 1.21.

Matson (NYSE:MATX) last released its earnings results on Thursday, July 31st. The shipping company reported $2.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.18 by $0.74. Matson had a return on equity of 18.90% and a net margin of 14.26%.The firm had revenue of $830.50 million for the quarter, compared to analysts’ expectations of $727.30 million. During the same quarter in the previous year, the business posted $3.31 earnings per share. The business’s revenue for the quarter was down 2.0% on a year-over-year basis. As a group, analysts expect that Matson, Inc. will post 13.27 earnings per share for the current fiscal year.

Matson Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 4th. Shareholders of record on Thursday, November 6th will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date is Thursday, November 6th. Matson’s payout ratio is currently 9.74%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on MATX. Jefferies Financial Group reaffirmed a “hold” rating and issued a $115.00 price target on shares of Matson in a research note on Friday, August 1st. Zacks Research raised Matson from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 16th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Matson in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $131.67.

Matson 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.