Olympiad Research LP Purchases Shares of 2,167 Matson, Inc. $MATX

Olympiad Research LP purchased a new stake in shares of Matson, Inc. (NYSE:MATX) in the second quarter, Holdings Channel reports. The firm purchased 2,167 shares of the shipping company’s stock, valued at approximately $241,000.

A number of other large investors also recently modified their holdings of MATX. Raymond James Financial Inc. boosted its holdings in 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 purchasing an additional 29,400 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in Matson by 8.9% in the 1st 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 during the period. Ameriprise Financial Inc. grew its position in shares of Matson by 10.9% in the first quarter. Ameriprise Financial Inc. now owns 461,769 shares of the shipping company’s stock valued at $59,188,000 after purchasing an additional 45,296 shares in the last quarter. William Blair Investment Management LLC bought a new position in shares of Matson in the second quarter valued at approximately $21,037,000. Finally, Virtu Financial LLC raised its position in shares of Matson by 230.6% in the first quarter. Virtu Financial LLC now owns 4,985 shares of the shipping company’s stock worth $639,000 after buying an additional 3,477 shares in the last quarter. Institutional investors own 84.76% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on MATX. Stephens lifted their price target on Matson from $160.00 to $180.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 5th. Jefferies Financial Group reissued a “hold” rating and set a $115.00 target price 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 report on Tuesday, September 16th. Wolfe Research raised shares of Matson from a “peer perform” rating to an “outperform” rating and set a $142.00 price target for the company in a research report on Friday, November 7th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Matson in a research report on Wednesday, November 5th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $141.75.

Matson Price Performance

NYSE:MATX opened at $106.74 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.78 and a quick ratio of 0.78. The business has a 50 day simple moving average of $100.69 and a 200-day simple moving average of $106.34. The firm has a market capitalization of $3.33 billion, a price-to-earnings ratio of 7.22 and a beta of 1.32. Matson, Inc. has a 1 year low of $86.97 and a 1 year high of $169.00.

Matson (NYSE:MATX) last released its earnings results on Tuesday, November 4th. The shipping company reported $4.24 EPS for the quarter, beating analysts’ consensus estimates of $3.25 by $0.99. The firm had revenue of $880.10 million for the quarter, compared to analysts’ expectations of $837.72 million. Matson had a return on equity of 18.90% and a net margin of 14.26%.The company’s quarterly revenue was down 8.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.89 earnings per share. Equities analysts forecast that Matson, Inc. will post 13.27 EPS for the current year.

Matson Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 4th. Stockholders of record on Thursday, November 6th will be given a $0.36 dividend. The ex-dividend date of this dividend is Thursday, November 6th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.3%. Matson’s payout ratio is presently 10.96%.

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.