Curat Global LLC Invests $104,000 in Matson, Inc. (NYSE:MATX)

Curat Global LLC purchased a new position in Matson, Inc. (NYSE:MATX) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 814 shares of the shipping company’s stock, valued at approximately $104,000.

Other institutional investors also recently bought and sold shares of the company. JPMorgan Chase & Co. raised its stake in Matson by 12.6% in the fourth quarter. JPMorgan Chase & Co. now owns 323,124 shares of the shipping company’s stock worth $43,570,000 after buying an additional 36,156 shares in the last quarter. Boston Partners raised its stake in Matson by 5.0% in the fourth quarter. Boston Partners now owns 182,570 shares of the shipping company’s stock worth $24,707,000 after buying an additional 8,704 shares in the last quarter. Raymond James Financial Inc. bought a new position in Matson in the fourth quarter worth about $4,328,000. Ameriprise Financial Inc. raised its stake in Matson by 73.9% in the fourth quarter. Ameriprise Financial Inc. now owns 416,473 shares of the shipping company’s stock worth $56,157,000 after buying an additional 177,000 shares in the last quarter. Finally, Bryce Point Capital LLC bought a new position in shares of Matson during the fourth quarter valued at approximately $544,000. 84.76% of the stock is owned by institutional investors.

Matson Price Performance

Shares of MATX opened at $112.89 on Friday. The company has a market capitalization of $3.69 billion, a P/E ratio of 9.39 and a beta of 1.30. 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 of $107.88 and a 200 day moving average of $128.93. Matson, Inc. has a twelve month low of $91.75 and a twelve month high of $169.12.

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

Matson Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Thursday, May 8th were given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a dividend yield of 1.20%. The ex-dividend date was Thursday, May 8th. Matson’s dividend payout ratio (DPR) is currently 8.96%.

Insider Activity at Matson

In other Matson news, SVP Leonard P. Isotoff sold 500 shares of Matson stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $111.47, for a total value of $55,735.00. Following the completion of the sale, the senior vice president now owns 5,644 shares of the company’s stock, valued at approximately $629,136.68. The trade was a 8.14% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Bradley D. Tilden bought 2,752 shares of the business’s stock in a transaction on Thursday, May 29th. The stock was bought at an average cost of $111.76 per share, with a total value of $307,563.52. Following the transaction, the director now owns 8,180 shares in the company, valued at $914,196.80. This trade represents a 50.70% increase in their position. The disclosure for this purchase can be found here. 2.05% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

MATX has been the subject of a number of analyst reports. Wall Street Zen downgraded shares of Matson from a “buy” rating to a “hold” rating in a research note on Wednesday, May 7th. Jefferies Financial Group raised their target price on shares of Matson from $125.00 to $135.00 and gave the company a “buy” rating in a research note on Tuesday, May 13th. Stifel Nicolaus decreased their target price on shares of Matson from $160.00 to $130.00 and set a “hold” rating for the company in a research note on Tuesday, May 6th. Finally, Stephens decreased their target price on shares of Matson from $175.00 to $150.00 and set an “overweight” rating for the company in a research note on Tuesday, May 6th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $138.33.

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.