Sanctuary Advisors LLC Invests $759,000 in Matson, Inc. (NYSE:MATX)

Sanctuary Advisors LLC purchased a new position in Matson, Inc. (NYSE:MATX) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,795 shares of the shipping company’s stock, valued at approximately $759,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of MATX. Virtu Financial LLC purchased a new position in shares of Matson in the fourth quarter worth about $518,000. Artemis Investment Management LLP lifted its stake in shares of Matson by 32.8% in the first quarter. Artemis Investment Management LLP now owns 57,078 shares of the shipping company’s stock worth $6,412,000 after buying an additional 14,111 shares in the last quarter. Astoria Portfolio Advisors LLC. lifted its stake in shares of Matson by 5.8% in the first quarter. Astoria Portfolio Advisors LLC. now owns 2,089 shares of the shipping company’s stock worth $229,000 after buying an additional 114 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Matson by 4.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 71,867 shares of the shipping company’s stock worth $8,078,000 after buying an additional 2,778 shares in the last quarter. Finally, Measured Wealth Private Client Group LLC raised its stake in Matson by 6.4% during the first quarter. Measured Wealth Private Client Group LLC now owns 2,332 shares of the shipping company’s stock worth $262,000 after purchasing an additional 140 shares during the period. 84.76% of the stock is owned by hedge funds and other institutional investors.

Matson Price Performance

Shares of MATX stock opened at $137.05 on Monday. The firm’s 50-day moving average is $134.07 and its two-hundred day moving average is $124.63. The company has a market capitalization of $4.79 billion, a PE ratio of 16.16 and a beta of 1.07. Matson, Inc. has a 12 month low of $82.68 and a 12 month high of $144.93. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.93 and a quick ratio of 0.93.

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

Insider Activity

In other news, SVP Richard S. Kinney sold 1,615 shares of the business’s stock in a transaction that occurred 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 sale, the senior vice president now directly owns 7,973 shares of the company’s stock, valued at approximately $1,065,352.26. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, SVP Richard S. Kinney sold 1,615 shares of Matson stock in a transaction that occurred 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 owns 7,973 shares in the company, valued at approximately $1,065,352.26. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Peter T. Heilmann sold 10,000 shares of Matson stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $129.37, for a total transaction of $1,293,700.00. Following the completion of the transaction, the executive vice president now owns 38,356 shares of the company’s stock, valued at $4,962,115.72. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 69,180 shares of company stock valued at $9,175,884. Company insiders own 2.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on MATX shares. StockNews.com downgraded shares of Matson from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 6th. Stephens lifted their target price on shares of Matson from $155.00 to $160.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd.

Matson Profile

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.