Intech Investment Management LLC Has $2.05 Million Stock Position in Matson, Inc. (NYSE:MATX)

Intech Investment Management LLC increased its stake in shares of Matson, Inc. (NYSE:MATX) by 43.5% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 14,382 shares of the shipping company’s stock after acquiring an additional 4,361 shares during the period. Intech Investment Management LLC’s holdings in Matson were worth $2,051,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. TruNorth Capital Management LLC acquired a new stake in shares of Matson in the second quarter worth $27,000. Redwood Wealth Management Group LLC bought a new stake in Matson during the second quarter worth about $34,000. International Assets Investment Management LLC bought a new stake in Matson during the 2nd quarter worth approximately $39,000. Harbor Capital Advisors Inc. acquired a new stake in shares of Matson in the third quarter valued at $50,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in Matson in the 1st quarter valued at about $71,000. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Matson Price Performance

Shares of MATX opened at $153.95 on Monday. The stock has a market capitalization of $5.11 billion, a P/E ratio of 12.81 and a beta of 1.06. Matson, Inc. has a twelve month low of $93.75 and a twelve month high of $169.12. The company has a 50 day moving average of $144.02 and a 200-day moving average of $132.76. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.14.

Matson (NYSE:MATX) last posted its quarterly earnings results on Wednesday, October 30th. The shipping company reported $5.89 earnings per share for the quarter, topping the consensus estimate of $4.98 by $0.91. The firm had revenue of $962.00 million for the quarter, compared to analyst estimates of $965.73 million. Matson had a return on equity of 16.89% and a net margin of 12.37%. The business’s quarterly revenue was up 16.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.40 EPS. As a group, equities research analysts forecast that Matson, Inc. will post 13.19 EPS for the current fiscal year.

Matson Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Shareholders of record on Thursday, November 7th will be paid a $0.34 dividend. The ex-dividend date is Thursday, November 7th. This represents a $1.36 annualized dividend and a yield of 0.88%. Matson’s dividend payout ratio is 11.31%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on MATX. Stephens boosted their target price on Matson from $155.00 to $160.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Wolfe Research lowered shares of Matson from an “outperform” rating to a “peer perform” rating in a report on Monday, November 18th. Finally, StockNews.com lowered Matson from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 6th.

Insider Activity at Matson

In other news, EVP Rusty K. Rolfe sold 3,000 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $165.97, for a total value of $497,910.00. Following the completion of the sale, the executive vice president now owns 21,871 shares of the company’s stock, valued at approximately $3,629,929.87. The trade was a 12.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Jason Lee Taylor sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $135.73, for a total transaction of $135,730.00. Following the transaction, the senior vice president now directly owns 9,392 shares in the company, valued at $1,274,776.16. This represents a 9.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 24,645 shares of company stock worth $3,677,960. Company insiders own 2.32% of the company’s stock.

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.