22,664 Shares in Matson, Inc. $MATX Bought by Kingsview Wealth Management LLC

Kingsview Wealth Management LLC purchased a new stake in Matson, Inc. (NYSE:MATX) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 22,664 shares of the shipping company’s stock, valued at approximately $4,357,000. Kingsview Wealth Management LLC owned approximately 0.08% of Matson at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Matson in the 2nd quarter valued at about $952,903,000. Millennium Management LLC increased its position in Matson by 144.9% in the 3rd quarter. Millennium Management LLC now owns 455,133 shares of the shipping company’s stock valued at $44,872,000 after buying an additional 269,310 shares in the last quarter. Balyasny Asset Management L.P. acquired a new position in Matson during the 3rd quarter worth approximately $26,415,000. Bank of New York Mellon Corp acquired a new position in Matson during the 2nd quarter worth approximately $50,637,000. Finally, Caisse de depot et placement du Quebec bought a new position in Matson in the second quarter worth approximately $45,796,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Transactions at Matson

In other news, SVP Leonard P. Isotoff sold 1,250 shares of the stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $208.30, for a total value of $260,375.00. Following the completion of the sale, the senior vice president owned 6,527 shares in the company, valued at $1,359,574.10. This represents a 16.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Vic S. Angoco, Jr. sold 2,293 shares of the firm’s stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $222.76, for a total transaction of $510,788.68. Following the transaction, the executive vice president directly owned 12,507 shares in the company, valued at $2,786,059.32. The trade was a 15.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 15,262 shares of company stock worth $3,223,716. 2.51% of the stock is owned by insiders.

Matson Stock Up 1.1%

MATX stock opened at $224.51 on Friday. The firm has a market capitalization of $6.71 billion, a PE ratio of 15.01 and a beta of 1.27. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.11. Matson, Inc. has a twelve month low of $86.97 and a twelve month high of $230.74. The stock’s 50 day moving average is $209.37 and its 200-day moving average is $185.71.

Matson (NYSE:MATX) last announced its quarterly earnings results on Monday, August 3rd. The shipping company reported $4.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.79 by $0.48. The business had revenue of $969.40 million during the quarter, compared to the consensus estimate of $893.91 million. Matson had a return on equity of 16.94% and a net margin of 13.41%.Matson’s revenue was up 16.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.92 earnings per share. Sell-side analysts expect that Matson, Inc. will post 16.01 EPS for the current fiscal year.

Matson Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 3rd. Shareholders of record on Thursday, August 6th will be issued a dividend of $0.38 per share. The ex-dividend date of this dividend is Thursday, August 6th. This represents a $1.52 dividend on an annualized basis and a yield of 0.7%. This is a positive change from Matson’s previous quarterly dividend of $0.36. Matson’s payout ratio is presently 10.16%.

Wall Street Analysts Forecast Growth

MATX has been the subject of several recent research reports. Zacks Research upgraded Matson from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 6th. Wall Street Zen cut Matson from a “buy” rating to a “hold” rating in a report on Saturday, August 22nd. JPMorgan Chase & Co. lifted their price target on shares of Matson from $230.00 to $270.00 and gave the company an “overweight” rating in a research report on Tuesday, August 4th. Weiss Ratings upgraded shares of Matson from a “hold (c)” rating to a “buy (b-)” rating in a research note on Thursday, August 6th. Finally, Stephens upped their price objective on shares of Matson from $240.00 to $260.00 and gave the stock an “overweight” rating in a report on Tuesday, August 4th. One research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $232.33.

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.