WINTON GROUP Ltd Has $6.77 Million Stock Position in Matson, Inc. $MATX

WINTON GROUP Ltd lifted its holdings in shares of Matson, Inc. (NYSE:MATX) by 269.3% in the 2nd quarter, HoldingsChannel reports. The fund owned 35,230 shares of the shipping company’s stock after purchasing an additional 25,691 shares during the period. WINTON GROUP Ltd’s holdings in Matson were worth $6,772,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. BlackRock Inc. acquired a new position in Matson during the 2nd quarter valued at about $952,903,000. Dimensional Fund Advisors LP raised its stake in shares of Matson by 1.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,982,793 shares of the shipping company’s stock worth $244,975,000 after purchasing an additional 21,463 shares during the last quarter. California State Teachers Retirement System lifted its holdings in shares of Matson by 14,734.1% in the second quarter. California State Teachers Retirement System now owns 1,706,810 shares of the shipping company’s stock valued at $328,100,000 after purchasing an additional 1,695,304 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Matson by 27.9% in the second quarter. Ameriprise Financial Inc. now owns 590,763 shares of the shipping company’s stock valued at $65,770,000 after purchasing an additional 128,994 shares in the last quarter. Finally, Millennium Management LLC boosted its position in shares of Matson by 144.9% during the third quarter. Millennium Management LLC now owns 455,133 shares of the shipping company’s stock valued at $44,872,000 after buying an additional 269,310 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Activity at Matson

In other Matson news, SVP Ku‘uhaku Park sold 1,000 shares of the stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $208.49, for a total transaction of $208,490.00. Following the completion of the transaction, the senior vice president directly owned 9,984 shares of the company’s stock, valued at approximately $2,081,564.16. This represents a 9.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Peter Heilmann sold 5,000 shares of the stock in a transaction on Wednesday, August 19th. The stock was sold at an average price of $220.15, for a total value of $1,100,750.00. Following the transaction, the executive vice president owned 20,506 shares of the company’s stock, valued at $4,514,395.90. The trade was a 19.60% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 12,462 shares of company stock worth $2,695,832 over the last 90 days. Corporate insiders own 2.51% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Weiss Ratings upgraded Matson from a “hold (c)” rating to a “buy (b-)” rating in a report on Thursday, August 6th. Zacks Research upgraded Matson from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 6th. Stephens lifted their price objective on shares of Matson from $240.00 to $260.00 and gave the stock an “overweight” rating in a report on Tuesday, August 4th. JPMorgan Chase & Co. upped their target price on shares of Matson from $230.00 to $270.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 4th. Finally, Wall Street Zen downgraded shares of Matson from a “buy” rating to a “hold” rating in a report on Saturday, August 22nd. One analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $232.33.

Matson Stock Performance

Shares of Matson stock opened at $227.04 on Thursday. The business’s fifty day simple moving average is $213.74 and its 200 day simple moving average is $189.29. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.11. Matson, Inc. has a 12 month low of $86.97 and a 12 month high of $230.74. The firm has a market capitalization of $6.79 billion, a P/E ratio of 15.18 and a beta of 1.26.

Matson (NYSE:MATX) last announced its quarterly earnings data on Monday, August 3rd. The shipping company reported $4.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.79 by $0.48. Matson had a return on equity of 16.94% and a net margin of 13.41%.The firm had revenue of $969.40 million during the quarter, compared to the consensus estimate of $893.91 million. During the same quarter in the prior year, the company earned $2.92 EPS. The business’s revenue for the quarter was up 16.7% on a year-over-year basis. As a group, analysts anticipate that Matson, Inc. will post 16.01 EPS for the current year.

Matson Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 3rd. Stockholders of record on Thursday, August 6th were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Thursday, August 6th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 0.7%. This is an increase from Matson’s previous quarterly dividend of $0.36. Matson’s payout ratio is currently 10.16%.

About Matson

Matson, Inc (NYSE: MATX) is a U.S.-based provider of ocean transportation and supply chain logistics services with a focus on Pacific trade lanes. The company operates a fleet of container ships that regularly service Hawaii, Alaska, Guam, Micronesia and other Pacific islands, as well as mainland U.S. ports. Matson’s ocean transportation segment offers scheduled liner services, expedited shipping options and specialized project cargo handling for industries ranging from retail to heavy machinery.

In addition to its core liner operations, Matson offers ocean transportation services between Asia and the U.S.