New Age Alpha Advisors LLC Increases Holdings in Matson, Inc. $MATX

New Age Alpha Advisors LLC increased its holdings in shares of Matson, Inc. (NYSE:MATX) by 3,920.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 40,245 shares of the shipping company’s stock after purchasing an additional 39,244 shares during the period. New Age Alpha Advisors LLC’s holdings in Matson were worth $4,972,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Federated Hermes Inc. boosted its position in Matson by 124.3% during the 3rd quarter. Federated Hermes Inc. now owns 249 shares of the shipping company’s stock worth $25,000 after purchasing an additional 138 shares during the period. Danske Bank A S purchased a new stake in Matson during the 4th quarter worth $25,000. Headlands Technologies LLC purchased a new stake in Matson during the 2nd quarter worth $28,000. Measured Wealth Private Client Group LLC purchased a new stake in Matson during the 3rd quarter worth $30,000. Finally, EverSource Wealth Advisors LLC boosted its position in Matson by 57.3% during the 4th quarter. EverSource Wealth Advisors LLC now owns 258 shares of the shipping company’s stock worth $32,000 after purchasing an additional 94 shares during the period. 84.76% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on MATX shares. JPMorgan Chase & Co. started coverage on shares of Matson in a research report on Monday, April 27th. They set an “overweight” rating and a $230.00 price target for the company. Wall Street Zen cut shares of Matson from a “buy” rating to a “hold” rating in a research report on Sunday, March 15th. Finally, Zacks Research raised shares of Matson to a “hold” rating in a research report on Wednesday, April 29th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Matson has an average rating of “Moderate Buy” and a consensus target price of $181.25.

Matson Stock Performance

NYSE:MATX opened at $181.67 on Tuesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a 50-day moving average of $171.34 and a two-hundred day moving average of $148.88. The stock has a market cap of $5.50 billion, a P/E ratio of 13.35 and a beta of 1.30. Matson, Inc. has a 1-year low of $86.97 and a 1-year high of $190.00.

Matson (NYSE:MATX) last posted its quarterly earnings data on Monday, May 4th. The shipping company reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $0.20. The company had revenue of $757.80 million during the quarter, compared to analysts’ expectations of $777.55 million. Matson had a net margin of 12.92% and a return on equity of 15.90%. The firm’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same period in the prior year, the company posted $2.18 EPS. On average, research analysts expect that Matson, Inc. will post 13.96 earnings per share for the current fiscal year.

Matson Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 4th. Shareholders of record on Thursday, May 7th will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Thursday, May 7th. Matson’s dividend payout ratio is presently 10.58%.

Insider Buying and Selling

In other news, SVP John Warren Sullivan sold 3,331 shares of the company’s stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $180.14, for a total value of $600,046.34. Following the sale, the senior vice president owned 9,547 shares in the company, valued at approximately $1,719,796.58. This represents a 25.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP John P. Lauer sold 8,603 shares of the company’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $166.13, for a total transaction of $1,429,216.39. Following the completion of the sale, the executive vice president owned 23,738 shares in the company, valued at approximately $3,943,593.94. This trade represents a 26.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 62,513 shares of company stock worth $10,635,702 over the last quarter. Company insiders own 2.51% of the company’s stock.

Matson Company Profile

Matson, Inc (NYSE: MATX) is a U.S.-based provider of ocean transportation and supply chain logistics services with a focus on Pacific trade lanes. The company operates a fleet of container ships that regularly service Hawaii, Alaska, Guam, Micronesia and other Pacific islands, as well as mainland U.S. ports. Matson’s ocean transportation segment offers scheduled liner services, expedited shipping options and specialized project cargo handling for industries ranging from retail to heavy machinery.

In addition to its core liner operations, Matson offers ocean transportation services between Asia and the U.S.