Campbell Deegan Wealth Management LLC Takes Position in Matson, Inc. (NYSE:MATX)

Campbell Deegan Wealth Management LLC purchased a new stake in shares of Matson, Inc. (NYSE:MATX) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 3,885 shares of the shipping company’s stock, valued at approximately $524,000. Matson makes up 0.6% of Campbell Deegan Wealth Management LLC’s investment portfolio, making the stock its 20th biggest holding.

Other institutional investors have also recently made changes to their positions in the company. JPMorgan Chase & Co. raised its position in shares of Matson by 12.6% during the 4th quarter. JPMorgan Chase & Co. now owns 323,124 shares of the shipping company’s stock valued at $43,570,000 after buying an additional 36,156 shares during the period. Boston Partners raised its position in shares of Matson by 5.0% during the 4th quarter. Boston Partners now owns 182,570 shares of the shipping company’s stock valued at $24,707,000 after buying an additional 8,704 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Matson during the 4th quarter valued at approximately $4,328,000. Ameriprise Financial Inc. raised its position in Matson by 73.9% in the fourth quarter. Ameriprise Financial Inc. now owns 416,473 shares of the shipping company’s stock valued at $56,157,000 after purchasing an additional 177,000 shares during the period. Finally, Bryce Point Capital LLC purchased a new stake in Matson in the fourth quarter valued at approximately $544,000. Hedge funds and other institutional investors own 84.76% of the company’s stock.

Matson Stock Up 2.3%

Matson stock opened at $111.72 on Wednesday. Matson, Inc. has a twelve month low of $91.75 and a twelve month high of $169.12. The stock’s fifty day simple moving average is $110.77 and its 200-day simple moving average is $131.44. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $3.65 billion, a P/E ratio of 9.29 and a beta of 1.30.

Matson (NYSE:MATX) last posted its quarterly earnings data on Monday, May 5th. The shipping company reported $2.18 earnings per share for the quarter, missing analysts’ consensus estimates of $2.34 by ($0.16). Matson had a return on equity of 16.89% and a net margin of 12.37%. The company had revenue of $782.00 million for the quarter, compared to analysts’ expectations of $818.07 million. During the same period in the prior year, the company posted $1.04 EPS. The firm’s revenue was up 8.3% compared to the same quarter last year. As a group, equities analysts expect that Matson, Inc. will post 13.27 earnings per share for the current fiscal year.

Matson Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Thursday, May 8th will be given a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.22%. The ex-dividend date of this dividend is Thursday, May 8th. Matson’s dividend payout ratio is currently 8.96%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on MATX. Jefferies Financial Group boosted their target price on Matson from $125.00 to $135.00 and gave the company a “buy” rating in a research report on Tuesday, May 13th. Stephens cut their target price on Matson from $175.00 to $150.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 6th. Wall Street Zen lowered Matson from a “buy” rating to a “hold” rating in a research report on Wednesday, May 7th. Finally, Stifel Nicolaus cut their target price on Matson from $160.00 to $130.00 and set a “hold” rating on the stock in a research report on Tuesday, May 6th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $138.33.

Insider Transactions at Matson

In related news, SVP Richard S. Kinney sold 1,997 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $137.11, for a total transaction of $273,808.67. Following the completion of the transaction, the senior vice president now owns 8,425 shares in the company, valued at approximately $1,155,151.75. The trade was a 19.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP John P. Lauer sold 7,985 shares of the business’s stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $134.73, for a total transaction of $1,075,819.05. Following the transaction, the executive vice president now owns 25,192 shares of the company’s stock, valued at approximately $3,394,118.16. The trade was a 24.07% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,682 shares of company stock valued at $1,550,551. 2.05% of the stock is currently owned by company insiders.

Matson Company 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.