Matson, Inc. (NYSE:MATX) Shares Bought by Millennium Management LLC

Millennium Management LLC raised its holdings in Matson, Inc. (NYSE:MATX) by 126.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 240,117 shares of the shipping company’s stock after purchasing an additional 134,092 shares during the period. Millennium Management LLC owned about 0.69% of Matson worth $31,448,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. TruNorth Capital Management LLC acquired a new stake in Matson in the 2nd quarter valued at $27,000. Redwood Wealth Management Group LLC acquired a new stake in shares of Matson in the second quarter valued at about $34,000. Security National Bank purchased a new stake in shares of Matson during the fourth quarter worth about $36,000. International Assets Investment Management LLC purchased a new position in Matson in the 2nd quarter valued at about $39,000. Finally, DekaBank Deutsche Girozentrale acquired a new stake in Matson in the 1st quarter worth about $71,000. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Matson Trading Down 0.8 %

MATX opened at $140.01 on Thursday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.93 and a quick ratio of 0.93. The company’s 50 day simple moving average is $133.34 and its two-hundred day simple moving average is $123.19. The firm has a market capitalization of $4.89 billion, a price-to-earnings ratio of 16.51 and a beta of 1.07. Matson, Inc. has a 1-year low of $82.68 and a 1-year high of $144.93.

Matson (NYSE:MATX) last released its quarterly earnings data on Thursday, August 1st. The shipping company reported $3.31 earnings per share for the quarter, topping analysts’ consensus estimates of $3.05 by $0.26. Matson had a return on equity of 13.87% and a net margin of 10.41%. The company had revenue of $847.40 million for the quarter, compared to analyst estimates of $861.68 million. Analysts expect that Matson, Inc. will post 11.45 EPS for the current fiscal year.

Insider Activity at Matson

In other Matson news, SVP Laura L. Rascon sold 744 shares of Matson stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $129.13, for a total transaction of $96,072.72. Following the transaction, the senior vice president now directly owns 12,369 shares of the company’s stock, valued at $1,597,208.97. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Matson news, SVP Laura L. Rascon sold 744 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $129.13, for a total transaction of $96,072.72. Following the completion of the sale, the senior vice president now owns 12,369 shares of the company’s stock, valued at $1,597,208.97. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Richard S. Kinney sold 1,615 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $133.62, for a total value of $215,796.30. Following the completion of the transaction, the senior vice president now directly owns 7,973 shares in the company, valued at approximately $1,065,352.26. The disclosure for this sale can be found here. Over the last quarter, insiders sold 82,001 shares of company stock valued at $10,755,944. 2.32% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have commented on the company. StockNews.com cut Matson from a “strong-buy” rating to a “buy” rating in a report on Friday, September 6th. Stephens raised their price objective on Matson from $155.00 to $160.00 and gave the company an “overweight” rating in a report on Friday, August 2nd.

About Matson

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.