Summit Global Investments Has $1.49 Million Holdings in Matson, Inc. (NYSE:MATX)

Summit Global Investments grew its position in Matson, Inc. (NYSE:MATX - Free Report) by 78.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,425 shares of the shipping company's stock after acquiring an additional 4,567 shares during the period. Summit Global Investments' holdings in Matson were worth $1,487,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Matson by 5.7% during the 1st quarter. Vanguard Group Inc. now owns 3,984,076 shares of the shipping company's stock worth $447,810,000 after buying an additional 215,452 shares during the period. American Century Companies Inc. boosted its holdings in shares of Matson by 4.2% during the 2nd quarter. American Century Companies Inc. now owns 911,827 shares of the shipping company's stock worth $119,422,000 after buying an additional 36,901 shares during the period. Encompass Capital Advisors LLC boosted its holdings in shares of Matson by 52.1% during the 2nd quarter. Encompass Capital Advisors LLC now owns 356,416 shares of the shipping company's stock worth $46,680,000 after buying an additional 122,017 shares during the period. LSV Asset Management boosted its holdings in shares of Matson by 18.1% during the 1st quarter. LSV Asset Management now owns 282,763 shares of the shipping company's stock worth $31,783,000 after buying an additional 43,324 shares during the period. Finally, Millennium Management LLC boosted its holdings in shares of Matson by 126.5% during the 2nd quarter. Millennium Management LLC now owns 240,117 shares of the shipping company's stock worth $31,448,000 after buying an additional 134,092 shares during the period. Institutional investors own 84.76% of the company's stock.

Insider Activity at Matson

In other Matson news, CEO Matthew J. Cox sold 7,500 shares of the company's stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $137.17, for a total value of $1,028,775.00. Following the completion of the transaction, the chief executive officer now directly owns 215,397 shares in the company, valued at approximately $29,546,006.49. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Matson news, EVP John P. Lauer sold 3,354 shares of the company's stock in a transaction that occurred on Wednesday, August 21st. The shares were sold at an average price of $132.48, for a total value of $444,337.92. Following the completion of the transaction, the executive vice president now directly owns 27,098 shares in the company, valued at approximately $3,589,943.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Matthew J. Cox sold 7,500 shares of the company's stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $137.17, for a total transaction of $1,028,775.00. Following the completion of the transaction, the chief executive officer now owns 215,397 shares of the company's stock, valued at approximately $29,546,006.49. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,864 shares of company stock valued at $3,716,059 in the last quarter. Insiders own 2.32% of the company's stock.

Matson Price Performance

MATX stock traded up $4.26 during trading on Friday, reaching $165.64. 323,907 shares of the company were exchanged, compared to its average volume of 276,301. The company has a market capitalization of $5.50 billion, a price-to-earnings ratio of 13.78 and a beta of 1.06. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.13 and a quick ratio of 1.13. The company has a 50-day moving average of $138.34 and a two-hundred day moving average of $129.17. Matson, Inc. has a twelve month low of $89.57 and a twelve month high of $167.94.

Matson (NYSE:MATX - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The shipping company reported $5.89 EPS for the quarter, beating the consensus estimate of $4.98 by $0.91. The business had revenue of $962.00 million during the quarter, compared to the consensus estimate of $965.73 million. Matson had a net margin of 12.37% and a return on equity of 16.89%. The firm's revenue was up 16.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.40 EPS. As a group, equities analysts predict that Matson, Inc. will post 12.11 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, December 5th. Investors of record on Thursday, November 7th will be paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 0.82%. The ex-dividend date of this dividend is Thursday, November 7th. Matson's payout ratio is 11.31%.

Analyst Ratings Changes

Several analysts have weighed in on MATX shares. StockNews.com cut shares of Matson from a "strong-buy" rating to a "buy" rating in a research note on Friday, September 6th. Stephens increased their price target on shares of Matson from $155.00 to $160.00 and gave the stock an "overweight" rating in a research report on Friday, August 2nd.

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.