Envestnet Asset Management Inc. Grows Position in Matson, Inc. (NYSE:MATX)

Envestnet Asset Management Inc. grew its stake in shares of Matson, Inc. (NYSE:MATX – Get Rating) by 8.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 46,811 shares of the shipping company’s stock after purchasing an additional 3,469 shares during the period. Envestnet Asset Management Inc.’s holdings in Matson were worth $2,926,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Quadrant Capital Group LLC boosted its position in Matson by 300.9% during the third quarter. Quadrant Capital Group LLC now owns 441 shares of the shipping company’s stock worth $27,000 after purchasing an additional 331 shares in the last quarter. Glass Jacobson Investment Advisors llc acquired a new stake in Matson in the 4th quarter valued at about $28,000. Ellevest Inc. increased its holdings in Matson by 124.9% during the 3rd quarter. Ellevest Inc. now owns 650 shares of the shipping company’s stock valued at $40,000 after acquiring an additional 361 shares in the last quarter. Ronald Blue Trust Inc. raised its position in Matson by 115.9% during the fourth quarter. Ronald Blue Trust Inc. now owns 803 shares of the shipping company’s stock worth $49,000 after acquiring an additional 431 shares during the last quarter. Finally, First Manhattan Co. purchased a new stake in shares of Matson in the third quarter valued at about $61,000. 83.55% of the stock is owned by institutional investors and hedge funds.

Matson Stock Up 3.2 %

Shares of NYSE MATX opened at $69.62 on Thursday. The firm has a market cap of $2.50 billion, a P/E ratio of 3.58 and a beta of 1.16. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.06 and a current ratio of 1.06. Matson, Inc. has a 1 year low of $56.51 and a 1 year high of $95.51. The firm’s 50 day moving average price is $62.76 and its 200 day moving average price is $64.37.

Matson (NYSE:MATX – Get Rating) last posted its quarterly earnings data on Thursday, May 4th. The shipping company reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.05. The business had revenue of $704.80 million for the quarter, compared to analysts’ expectations of $704.34 million. Matson had a return on equity of 33.72% and a net margin of 19.54%. The business’s revenue was down 39.5% on a year-over-year basis. During the same quarter last year, the firm earned $8.23 earnings per share. As a group, sell-side analysts anticipate that Matson, Inc. will post 4.37 earnings per share for the current year.

Matson Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 1st. Stockholders of record on Thursday, May 11th will be issued a dividend of $0.31 per share. The ex-dividend date of this dividend is Wednesday, May 10th. This represents a $1.24 annualized dividend and a dividend yield of 1.78%. Matson’s payout ratio is currently 6.39%.

Insider Buying and Selling

In related news, SVP Vic S. Angoco, Jr. sold 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $68.18, for a total transaction of $545,440.00. Following the completion of the transaction, the senior vice president now owns 45,193 shares of the company’s stock, valued at $3,081,258.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP Kevin L. Stuck sold 2,760 shares of Matson stock in a transaction dated Tuesday, February 28th. The stock was sold at an average price of $67.48, for a total value of $186,244.80. Following the transaction, the vice president now directly owns 4,568 shares of the company’s stock, valued at approximately $308,248.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Vic S. Angoco, Jr. sold 8,000 shares of the stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $68.18, for a total transaction of $545,440.00. Following the sale, the senior vice president now directly owns 45,193 shares of the company’s stock, valued at approximately $3,081,258.74. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,941 shares of company stock valued at $1,764,803. Insiders own 1.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on MATX shares. Stephens cut their price objective on Matson from $75.00 to $70.00 and set an “equal weight” rating for the company in a research report on Wednesday, February 22nd. StockNews.com initiated coverage on Matson in a report on Thursday. They issued a “hold” rating for the company. Finally, Stifel Nicolaus decreased their price objective on Matson from $73.00 to $70.00 and set a “hold” rating on the stock in a research note on Thursday, April 20th.

About Matson

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Matson, Inc is a holding company, which engages in the provision of logistics and transportation services. It operates through the Ocean Transportation and Logistics segments. The Ocean Transportation segment offers ocean freight transportation, container stevedoring, refrigerated cargo services, inland transportation, and other terminal services.