3,395 Shares in Matson, Inc. $MATX Acquired by Jupiter Topco LLC

Jupiter Topco LLC acquired a new stake in shares of Matson, Inc. (NYSE:MATX) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 3,395 shares of the shipping company’s stock, valued at approximately $653,000.

Other large investors have also added to or reduced their stakes in the company. Allworth Financial LP purchased a new stake in shares of Matson in the second quarter worth $28,000. Headlands Technologies LLC bought a new position in Matson in the 2nd quarter worth about $28,000. Measured Wealth Private Client Group LLC bought a new position in Matson in the 3rd quarter worth about $30,000. SouthState Bank Corp bought a new stake in Matson during the 4th quarter valued at about $31,000. Finally, EverSource Wealth Advisors LLC raised its holdings in Matson by 57.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 258 shares of the shipping company’s stock worth $32,000 after buying an additional 94 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Insider Buying and Selling

In other Matson news, EVP Peter T. Heilmann sold 5,000 shares of the company’s stock in a transaction dated Wednesday, August 19th. The stock was sold at an average price of $220.15, for a total value of $1,100,750.00. Following the completion of the sale, the executive vice president owned 20,506 shares in the company, valued at $4,514,395.90. This represents a 19.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Leonard P. Isotoff sold 1,250 shares of Matson 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 transaction, the senior vice president directly owned 6,527 shares in the company, valued at approximately $1,359,574.10. The trade was a 16.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 12,462 shares of company stock worth $2,695,832 in the last quarter. Company insiders own 2.51% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Matson from $230.00 to $270.00 and gave the stock an “overweight” rating in a report on Tuesday, August 4th. Weiss Ratings raised Matson from a “hold (c)” rating to a “buy (b-)” rating in a report on Thursday, August 6th. Stephens boosted their price target on Matson from $240.00 to $260.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 4th. Zacks Research raised Matson from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 6th. Finally, Wall Street Zen downgraded Matson from a “buy” rating to a “hold” rating in a report on Saturday, August 22nd. One analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $232.33.

Matson Trading Up 0.2%

Shares of NYSE:MATX opened at $226.05 on Monday. The stock’s 50-day simple moving average is $212.02 and its two-hundred day simple moving average is $188.03. The stock has a market capitalization of $6.76 billion, a price-to-earnings ratio of 15.11 and a beta of 1.26. Matson, Inc. has a 52-week low of $86.97 and a 52-week high of $230.74. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.89 and a current ratio of 0.89.

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

Matson Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Stockholders of record on Thursday, August 6th were paid a $0.38 dividend. This is a positive change from Matson’s previous quarterly dividend of $0.36. The ex-dividend date was Thursday, August 6th. This represents a $1.52 annualized dividend and a dividend yield of 0.7%. Matson’s dividend payout ratio (DPR) is currently 10.16%.

Matson 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.