RHS Financial LLC Buys Shares of 1,978 Matson, Inc. (NYSE:MATX)

RHS Financial LLC purchased a new position in shares of Matson, Inc. (NYSE:MATX) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,978 shares of the shipping company’s stock, valued at approximately $267,000.

Other hedge funds have also made changes to their positions in the company. Harbor Capital Advisors Inc. acquired a new stake in Matson in the third quarter worth $50,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Matson in the 3rd quarter worth about $92,000. GAMMA Investing LLC increased its holdings in shares of Matson by 45.6% in the 3rd quarter. GAMMA Investing LLC now owns 1,096 shares of the shipping company’s stock worth $156,000 after acquiring an additional 343 shares during the period. Farther Finance Advisors LLC lifted its position in Matson by 1,661.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,092 shares of the shipping company’s stock valued at $156,000 after purchasing an additional 1,030 shares during the last quarter. Finally, CWM LLC boosted its stake in Matson by 80.4% during the 3rd quarter. CWM LLC now owns 1,198 shares of the shipping company’s stock valued at $171,000 after purchasing an additional 534 shares during the period. Institutional investors own 84.76% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on MATX shares. Stephens restated an “overweight” rating and issued a $165.00 price target on shares of Matson in a research note on Thursday, January 2nd. Wolfe Research cut Matson from an “outperform” rating to a “peer perform” rating in a research report on Monday, November 18th.

Insider Activity

In other news, SVP John Warren Sullivan sold 750 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $165.50, for a total transaction of $124,125.00. Following the sale, the senior vice president now directly owns 12,745 shares of the company’s stock, valued at $2,109,297.50. The trade was a 5.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Peter T. Heilmann sold 5,404 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $162.36, for a total transaction of $877,393.44. Following the sale, the executive vice president now directly owns 32,952 shares of the company’s stock, valued at $5,350,086.72. This represents a 14.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 9,646 shares of company stock worth $1,578,768. 2.32% of the stock is owned by company insiders.

Matson Stock Performance

Shares of MATX opened at $141.98 on Friday. The firm has a market capitalization of $4.72 billion, a PE ratio of 11.81 and a beta of 1.07. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.14. The firm has a 50-day moving average price of $142.47 and a 200 day moving average price of $139.59. Matson, Inc. has a 52-week low of $100.50 and a 52-week high of $169.12.

Matson (NYSE:MATX) last posted its quarterly earnings data on Wednesday, October 30th. The shipping company reported $5.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.98 by $0.91. Matson had a net margin of 12.37% and a return on equity of 16.89%. The business had revenue of $962.00 million during the quarter, compared to analysts’ expectations of $965.73 million. During the same period last year, the firm posted $3.40 earnings per share. The business’s revenue was up 16.3% on a year-over-year basis. On average, sell-side analysts anticipate that Matson, Inc. will post 13.2 earnings per share for the current fiscal year.

Matson Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 6th. Shareholders of record on Thursday, February 6th will be paid a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date is Thursday, February 6th. Matson’s payout ratio is currently 11.31%.

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.