Caprock Group LLC Purchases 91 Shares of Matson, Inc. (NYSE:MATX)

Caprock Group LLC increased its position in Matson, Inc. (NYSE:MATX) by 4.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,283 shares of the shipping company’s stock after purchasing an additional 91 shares during the quarter. Caprock Group LLC’s holdings in Matson were worth $326,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MATX. Vanguard Group Inc. lifted its position in Matson by 5.7% in the first quarter. Vanguard Group Inc. now owns 3,984,076 shares of the shipping company’s stock worth $447,810,000 after purchasing an additional 215,452 shares during the period. CANADA LIFE ASSURANCE Co lifted its position in Matson by 4.0% in the first quarter. CANADA LIFE ASSURANCE Co now owns 27,594 shares of the shipping company’s stock worth $3,098,000 after purchasing an additional 1,066 shares during the period. Magnetar Financial LLC bought a new position in shares of Matson during the first quarter valued at $542,000. BOKF NA lifted its holdings in shares of Matson by 88.2% during the first quarter. BOKF NA now owns 3,446 shares of the shipping company’s stock valued at $384,000 after acquiring an additional 1,615 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings in shares of Matson by 4.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 27,204 shares of the shipping company’s stock valued at $3,058,000 after acquiring an additional 1,214 shares during the period. 84.76% of the stock is owned by institutional investors.

Matson Stock Performance

Shares of NYSE:MATX opened at $153.95 on Friday. Matson, Inc. has a twelve month low of $93.75 and a twelve month high of $169.12. The firm has a market cap of $5.11 billion, a PE ratio of 12.81 and a beta of 1.06. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.13 and a current ratio of 1.13. The business has a fifty day moving average of $144.02 and a 200-day moving average of $132.61.

Matson (NYSE:MATX) last announced its earnings results on Wednesday, October 30th. The shipping company reported $5.89 earnings per share for the quarter, beating analysts’ consensus estimates of $4.98 by $0.91. Matson had a return on equity of 16.89% and a net margin of 12.37%. The company had revenue of $962.00 million during the quarter, compared to analyst estimates of $965.73 million. During the same period last year, the company posted $3.40 earnings per share. The firm’s quarterly revenue was up 16.3% compared to the same quarter last year. On average, equities research analysts predict that Matson, Inc. will post 13.19 EPS for the current fiscal year.

Matson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 7th will be paid a $0.34 dividend. The ex-dividend date is Thursday, November 7th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.88%. Matson’s dividend payout ratio (DPR) is presently 11.31%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on MATX shares. Stephens lifted 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. StockNews.com cut Matson from a “strong-buy” rating to a “buy” rating in a report on Friday, September 6th. Finally, Wolfe Research cut Matson from an “outperform” rating to a “peer perform” rating in a report on Monday, November 18th.

Insider Activity

In related news, CEO Matthew J. Cox sold 7,500 shares of Matson stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $137.17, for a total value of $1,028,775.00. Following the completion of the sale, the chief executive officer now directly owns 215,397 shares in the company, valued at $29,546,006.49. This trade represents a 3.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Peter T. Heilmann sold 5,404 shares of Matson stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $162.36, for a total value of $877,393.44. Following the completion of the sale, the executive vice president now owns 32,952 shares of the company’s stock, valued at approximately $5,350,086.72. The trade was a 14.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,645 shares of company stock worth $3,677,960. 2.32% of the stock is owned by corporate insiders.

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.