Concentric Capital Strategies LP Purchases Shares of 8,068 Matson, Inc. (NYSE:MATX)

Concentric Capital Strategies LP purchased a new position in shares of Matson, Inc. (NYSE:MATX) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 8,068 shares of the shipping company’s stock, valued at approximately $1,151,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Natixis Advisors LLC boosted its stake in shares of Matson by 0.5% in the 3rd quarter. Natixis Advisors LLC now owns 16,217 shares of the shipping company’s stock valued at $2,313,000 after purchasing an additional 78 shares in the last quarter. Caprock Group LLC boosted its position in Matson by 4.2% during the third quarter. Caprock Group LLC now owns 2,283 shares of the shipping company’s stock valued at $326,000 after buying an additional 91 shares during the period. First Trust Direct Indexing L.P. grew its stake in shares of Matson by 6.9% during the third quarter. First Trust Direct Indexing L.P. now owns 1,663 shares of the shipping company’s stock valued at $237,000 after buying an additional 107 shares during the last quarter. SummerHaven Investment Management LLC grew its stake in shares of Matson by 1.3% during the second quarter. SummerHaven Investment Management LLC now owns 9,585 shares of the shipping company’s stock valued at $1,255,000 after buying an additional 124 shares during the last quarter. Finally, AlphaMark Advisors LLC increased its holdings in shares of Matson by 4.7% in the second quarter. AlphaMark Advisors LLC now owns 2,909 shares of the shipping company’s stock worth $381,000 after buying an additional 131 shares during the period. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

Matson Price Performance

MATX stock opened at $156.12 on Tuesday. The stock has a market capitalization of $5.18 billion, a price-to-earnings ratio of 12.99 and a beta of 1.06. The firm’s 50-day moving average price is $146.49 and its two-hundred day moving average price is $134.58. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.14. Matson, Inc. has a 12-month low of $94.58 and a 12-month high of $169.12.

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

Matson Announces Dividend

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 dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.36 annualized dividend and a dividend yield of 0.87%. Matson’s dividend payout ratio (DPR) is presently 11.31%.

Insider Activity at Matson

In related news, SVP Jason Lee Taylor sold 1,000 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $135.73, for a total transaction of $135,730.00. Following the transaction, the senior vice president now owns 9,392 shares in the company, valued at $1,274,776.16. The trade was a 9.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Rusty K. Rolfe sold 3,000 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $165.97, for a total transaction of $497,910.00. Following the completion of the transaction, the executive vice president now directly owns 21,871 shares of the company’s stock, valued at approximately $3,629,929.87. The trade was a 12.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 17,145 shares of company stock worth $2,649,185 over the last quarter. 2.32% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on MATX. Wolfe Research cut Matson from an “outperform” rating to a “peer perform” rating in a report on Monday, November 18th. StockNews.com lowered Matson from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 6th.

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.