Cynosure Group LLC Makes New Investment in Matson, Inc. (NYSE:MATX)

Cynosure Group LLC acquired a new stake in shares of Matson, Inc. (NYSE:MATX) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 2,694 shares of the shipping company’s stock, valued at approximately $384,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Natixis Advisors LLC increased its position in 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 acquiring an additional 78 shares during the period. Caprock Group LLC raised its position in Matson by 4.2% during the 3rd quarter. Caprock Group LLC now owns 2,283 shares of the shipping company’s stock worth $326,000 after purchasing an additional 91 shares during the last quarter. First Trust Direct Indexing L.P. lifted its holdings in Matson by 6.9% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 1,663 shares of the shipping company’s stock worth $237,000 after buying an additional 107 shares during the period. SummerHaven Investment Management LLC increased its stake in shares of Matson by 1.3% in 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 period. Finally, AlphaMark Advisors LLC boosted its holdings in Matson by 4.7% in the second quarter. AlphaMark Advisors LLC now owns 2,909 shares of the shipping company’s stock valued at $381,000 after acquiring an additional 131 shares during the last quarter. Institutional investors own 84.76% of the company’s stock.

Insider Buying and Selling

In other Matson news, EVP Rusty K. Rolfe sold 3,000 shares of the firm’s 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 sale, the executive vice president now owns 21,871 shares in the company, valued at $3,629,929.87. This trade represents a 12.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Jason Lee Taylor sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $135.73, for a total value of $135,730.00. Following the completion of the sale, the senior vice president now owns 9,392 shares of the company’s stock, valued at $1,274,776.16. The trade was a 9.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,645 shares of company stock worth $3,677,960 over the last ninety days. 2.32% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

MATX has been the subject of several analyst reports. StockNews.com lowered shares of Matson from a “strong-buy” rating to a “buy” rating in a report on Friday, September 6th. Stephens boosted their price objective on Matson from $155.00 to $160.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Finally, Wolfe Research downgraded Matson from an “outperform” rating to a “peer perform” rating in a report on Monday, November 18th.

Matson Trading Down 2.5 %

Shares of MATX opened at $153.11 on Thursday. The business has a 50-day moving average of $145.45 and a 200 day moving average of $133.63. Matson, Inc. has a fifty-two week low of $93.75 and a fifty-two week high of $169.12. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.13 and a current ratio of 1.13. The firm has a market cap of $5.08 billion, a P/E ratio of 12.74 and a beta of 1.06.

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. Matson had a return on equity of 16.89% and a net margin of 12.37%. The firm had revenue of $962.00 million for the quarter, compared to the consensus estimate of $965.73 million. During the same quarter in the prior year, the business posted $3.40 earnings per share. The business’s quarterly revenue was up 16.3% on a year-over-year basis. As a group, research analysts forecast that Matson, Inc. will post 13.19 EPS for the current year.

Matson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Investors of record on Thursday, November 7th will be given a $0.34 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.89%. Matson’s dividend payout ratio (DPR) is presently 11.31%.

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.