Crossmark Global Holdings Inc. Grows Position in Matson, Inc. (NYSE:MATX)

Crossmark Global Holdings Inc. raised its position in Matson, Inc. (NYSE:MATX) by 16.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,787 shares of the shipping company’s stock after buying an additional 391 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Matson were worth $397,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Assetmark Inc. raised its holdings in shares of Matson by 13.1% in the third quarter. Assetmark Inc. now owns 47,868 shares of the shipping company’s stock valued at $6,827,000 after buying an additional 5,536 shares during the last quarter. Summit Global Investments increased its position in Matson by 78.0% in the 3rd quarter. Summit Global Investments now owns 10,425 shares of the shipping company’s stock valued at $1,487,000 after acquiring an additional 4,567 shares during the period. Harbor Capital Advisors Inc. purchased a new stake in Matson during the 3rd quarter valued at approximately $50,000. Farther Finance Advisors LLC lifted its position in Matson by 1,661.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,092 shares of the shipping company’s stock worth $156,000 after acquiring an additional 1,030 shares during the period. Finally, Stephens Inc. AR grew its stake in shares of Matson by 51.8% in the 3rd quarter. Stephens Inc. AR now owns 4,835 shares of the shipping company’s stock valued at $690,000 after purchasing an additional 1,649 shares during the last quarter. Institutional investors and hedge funds own 84.76% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on MATX. StockNews.com downgraded Matson from a “strong-buy” rating to a “buy” rating in a report on Friday, September 6th. Stephens upped their price objective on Matson from $155.00 to $160.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd.

Matson Price Performance

MATX stock opened at $160.65 on Monday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.14. The company has a market cap of $5.34 billion, a price-to-earnings ratio of 13.37 and a beta of 1.06. Matson, Inc. has a 12-month low of $91.98 and a 12-month high of $169.12. The firm has a 50 day moving average of $141.52 and a 200-day moving average of $131.26.

Matson (NYSE:MATX) last released its quarterly earnings data on Wednesday, October 30th. The shipping company reported $5.89 EPS for the quarter, topping the consensus estimate of $4.98 by $0.91. Matson had a net margin of 12.37% and a return on equity of 16.89%. The business had revenue of $962.00 million for the quarter, compared to analyst estimates of $965.73 million. During the same period in the previous year, the firm earned $3.40 EPS. The business’s revenue for the quarter was up 16.3% compared to the same quarter last year. As a group, equities analysts expect that Matson, Inc. will post 13.19 EPS for the current fiscal year.

Matson Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 5th. Stockholders of record on Thursday, November 7th will be paid a dividend of $0.34 per share. The ex-dividend date is Thursday, November 7th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 0.85%. Matson’s dividend payout ratio (DPR) is 11.31%.

Insider Buying and Selling

In related news, CEO Matthew J. Cox sold 7,500 shares of the business’s stock in a transaction dated 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 owns 215,397 shares of the company’s stock, valued at approximately $29,546,006.49. The trade was a 3.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Jason Lee Taylor sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $135.73, for a total transaction of $135,730.00. Following the transaction, the senior vice president now directly owns 9,392 shares in the company, 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 29,614 shares of company stock worth $4,338,094 in the last ninety days. Insiders own 2.32% of the company’s stock.

Matson 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.