Brickley Wealth Management Makes New $242,000 Investment in Matson, Inc. (NYSE:MATX)

Brickley Wealth Management acquired a new stake in Matson, Inc. (NYSE:MATXGet Rating) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 2,003 shares of the shipping company’s stock, valued at approximately $242,000.

A number of other hedge funds also recently made changes to their positions in MATX. FNY Investment Advisers LLC purchased a new stake in shares of Matson in the first quarter worth $138,000. MorganRosel Wealth Management LLC purchased a new stake in shares of Matson in the first quarter worth $1,095,000. First Quadrant LLC CA purchased a new stake in shares of Matson during the first quarter valued at $48,000. Empowered Funds LLC purchased a new stake in shares of Matson during the first quarter valued at $4,676,000. Finally, Inspire Investing LLC purchased a new stake in shares of Matson during the first quarter valued at $235,000. Hedge funds and other institutional investors own 85.85% of the company’s stock.

In related news, CEO Matthew J. Cox sold 5,000 shares of the firm’s stock in a transaction dated Thursday, June 16th. The stock was sold at an average price of $75.76, for a total transaction of $378,800.00. Following the transaction, the chief executive officer now owns 262,802 shares of the company’s stock, valued at $19,909,879.52. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Richard S. Kinney sold 470 shares of Matson stock in a transaction that occurred on Friday, June 24th. The shares were sold at an average price of $72.51, for a total value of $34,079.70. Following the completion of the sale, the senior vice president now directly owns 8,975 shares in the company, valued at approximately $650,777.25. The disclosure for this sale can be found here. Insiders have sold 22,983 shares of company stock valued at $1,971,371 in the last three months. Insiders own 1.90% of the company’s stock.

A number of research analysts have weighed in on the company. StockNews.com raised Matson from a “buy” rating to a “strong-buy” rating in a report on Wednesday, May 4th. Stifel Nicolaus raised their price objective on Matson from $98.00 to $131.00 and gave the stock a “buy” rating in a research note on Monday, March 14th.

MATX opened at $70.38 on Thursday. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.28. The business has a fifty day moving average of $83.10 and a 200 day moving average of $92.16. The stock has a market cap of $2.85 billion, a P/E ratio of 2.53 and a beta of 1.12. Matson, Inc. has a 52-week low of $62.34 and a 52-week high of $125.34.

Matson (NYSE:MATXGet Rating) last posted its quarterly earnings results on Tuesday, May 3rd. The shipping company reported $8.23 earnings per share for the quarter, beating the consensus estimate of $8.13 by $0.10. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.18 billion. Matson had a return on equity of 77.39% and a net margin of 26.93%. The company’s quarterly revenue was up 63.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.99 EPS. Equities analysts anticipate that Matson, Inc. will post 28.85 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Thursday, August 4th will be issued a dividend of $0.31 per share. The ex-dividend date is Wednesday, August 3rd. This represents a $1.24 dividend on an annualized basis and a dividend yield of 1.76%. This is a boost from Matson’s previous quarterly dividend of $0.30. Matson’s dividend payout ratio is presently 4.31%.

Matson Company Profile (Get Rating)

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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