Cambridge Investment Research Advisors Inc. Purchases 316 Shares of Matson, Inc. (NYSE:MATX)

Cambridge Investment Research Advisors Inc. lifted its stake in shares of Matson, Inc. (NYSE:MATX) by 8.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,064 shares of the shipping company’s stock after purchasing an additional 316 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Matson were worth $328,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in MATX. Dark Forest Capital Management LP bought a new position in shares of Matson during the 2nd quarter worth about $33,000. O Shaughnessy Asset Management LLC boosted its position in shares of Matson by 75.1% during the 2nd quarter. O Shaughnessy Asset Management LLC now owns 527 shares of the shipping company’s stock worth $34,000 after purchasing an additional 226 shares in the last quarter. Koshinski Asset Management Inc. bought a new position in shares of Matson during the 3rd quarter worth about $35,000. Selective Wealth Management Inc. bought a new position in shares of Matson during the 3rd quarter worth about $44,000. Finally, Atticus Wealth Management LLC bought a new position in shares of Matson during the 3rd quarter worth about $50,000. 84.82% of the stock is currently owned by institutional investors.

MATX opened at $87.09 on Friday. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.88 and a quick ratio of 0.88. Matson, Inc. has a fifty-two week low of $58.49 and a fifty-two week high of $94.54. The firm has a market capitalization of $3.66 billion, a PE ratio of 6.14 and a beta of 0.97. The company’s 50-day moving average is $86.50 and its 200 day moving average is $80.03.

Matson (NYSE:MATX) last posted its earnings results on Wednesday, November 3rd. The shipping company reported $6.53 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $6.53. Matson had a net margin of 18.42% and a return on equity of 54.88%. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the prior year, the business posted $1.63 EPS. As a group, analysts expect that Matson, Inc. will post 17.56 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 2nd. Investors of record on Thursday, November 11th were issued a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, November 9th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.38%. Matson’s dividend payout ratio is presently 8.46%.

Separately, Stifel Nicolaus increased their price objective on shares of Matson from $80.00 to $92.00 and gave the stock a “buy” rating in a research report on Tuesday, October 12th.

In other Matson news, SVP Richard S. Kinney sold 429 shares of the stock in a transaction dated Friday, December 17th. The shares were sold at an average price of $81.24, for a total value of $34,851.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Peter T. Heilmann sold 7,052 shares of the stock in a transaction dated Tuesday, November 16th. The shares were sold at an average price of $90.32, for a total transaction of $636,936.64. The disclosure for this sale can be found here. Insiders sold a total of 42,982 shares of company stock worth $3,671,010 in the last 90 days. 2.00% of the stock is currently owned by company insiders.

Matson Profile

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.

See Also: Return on Investment (ROI)

Institutional Ownership by Quarter for Matson (NYSE:MATX)

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