Caxton Associates LP Purchases Shares of 5,380 Matson, Inc. (NYSE:MATX)

Caxton Associates LP purchased a new stake in shares of Matson, Inc. (NYSE:MATX) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,380 shares of the shipping company’s stock, valued at approximately $359,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Stonebridge Capital Advisors LLC purchased a new stake in Matson during the first quarter valued at about $33,000. Lazard Asset Management LLC bought a new position in shares of Matson during the fourth quarter valued at about $48,000. Harvest Fund Management Co. Ltd bought a new position in shares of Matson during the first quarter valued at about $53,000. Rockefeller Capital Management L.P. raised its stake in shares of Matson by 64.6% during the first quarter. Rockefeller Capital Management L.P. now owns 879 shares of the shipping company’s stock valued at $58,000 after acquiring an additional 345 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Matson by 55.4% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,172 shares of the shipping company’s stock valued at $78,000 after acquiring an additional 418 shares during the last quarter. Institutional investors and hedge funds own 84.98% of the company’s stock.

In other Matson news, SVP Richard S. Kinney sold 750 shares of the firm’s stock in a transaction that occurred on Friday, June 25th. The shares were sold at an average price of $66.41, for a total transaction of $49,807.50. Following the completion of the transaction, the senior vice president now owns 9,277 shares of the company’s stock, valued at $616,085.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Matthew J. Cox sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 21st. The shares were sold at an average price of $66.78, for a total transaction of $333,900.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 37,732 shares of company stock valued at $2,426,657. 2.00% of the stock is owned by insiders.

Separately, Stephens reaffirmed an “equal weight” rating and set a $70.00 price objective on shares of Matson in a research note on Wednesday, May 5th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. Matson has a consensus rating of “Buy” and a consensus target price of $54.00.

MATX stock opened at $66.15 on Thursday. Matson, Inc. has a 1 year low of $34.78 and a 1 year high of $79.05. The company has a market capitalization of $2.87 billion, a P/E ratio of 10.44 and a beta of 0.97. The business has a 50-day moving average of $63.90. The company has a current ratio of 0.60, a quick ratio of 0.60 and a debt-to-equity ratio of 0.61.

Matson (NYSE:MATX) last released its quarterly earnings results on Tuesday, April 27th. The shipping company reported $1.99 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.63 by $0.36. Matson had a net margin of 10.71% and a return on equity of 29.91%. The company had revenue of $711.80 million during the quarter, compared to the consensus estimate of $686.05 million. As a group, equities research analysts anticipate that Matson, Inc. will post 9.57 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 2nd. Investors of record on Thursday, August 5th will be paid a $0.30 dividend. This is an increase from Matson’s previous quarterly dividend of $0.23. This represents a $1.20 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date of this dividend is Wednesday, August 4th. Matson’s dividend payout ratio is presently 20.72%.

Matson Profile

Matson, Inc, together with its subsidiaries, provides ocean transportation and logistics services. The company's Ocean Transportation segment offers ocean freight transportation services to the domestic non-contiguous economies of Hawaii, Alaska, and Guam, as well as to other island economies in Micronesia.

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Institutional Ownership by Quarter for Matson (NYSE:MATX)

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