nVerses Capital LLC Purchases New Holdings in Matson, Inc. (NYSE:MATX)

nVerses Capital LLC acquired a new stake in Matson, Inc. (NYSE:MATX) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 3,100 shares of the shipping company’s stock, valued at approximately $442,000.

Other large investors also recently modified their holdings of the company. TruNorth Capital Management LLC bought a new stake in Matson during the 2nd quarter worth approximately $27,000. Redwood Wealth Management Group LLC acquired a new stake in Matson during the 2nd quarter worth $34,000. International Assets Investment Management LLC bought a new position in Matson during the 2nd quarter worth about $39,000. DekaBank Deutsche Girozentrale bought a new position in Matson during the 1st quarter worth about $71,000. Finally, Blue Trust Inc. increased its holdings in Matson by 226.9% during the 2nd quarter. Blue Trust Inc. now owns 595 shares of the shipping company’s stock worth $78,000 after purchasing an additional 413 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors.

Matson Stock Performance

NYSE MATX opened at $136.52 on Friday. The company has a market capitalization of $4.77 billion, a price-to-earnings ratio of 16.10 and a beta of 1.07. Matson, Inc. has a twelve month low of $82.68 and a twelve month high of $144.93. The stock has a fifty day simple moving average of $134.63 and a 200 day simple moving average of $125.20. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.15.

Matson (NYSE:MATX) last released its quarterly earnings data on Thursday, August 1st. The shipping company reported $3.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.05 by $0.26. Matson had a net margin of 10.41% and a return on equity of 13.87%. The company had revenue of $847.40 million for the quarter, compared to analysts’ expectations of $861.68 million. Sell-side analysts expect that Matson, Inc. will post 11.45 EPS for the current year.

Insider Transactions at Matson

In related news, SVP Jason Lee Taylor sold 1,000 shares of the firm’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 value of $135,730.00. Following the completion of the transaction, the senior vice president now directly owns 9,392 shares of the company’s stock, valued at approximately $1,274,776.16. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Matson news, CFO Joel M. Wine sold 8,000 shares of the business’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $128.89, for a total value of $1,031,120.00. Following the transaction, the chief financial officer now owns 106,974 shares in the company, valued at approximately $13,787,878.86. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jason Lee Taylor sold 1,000 shares of the business’s stock in a transaction dated 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 owns 9,392 shares in the company, valued at $1,274,776.16. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 69,180 shares of company stock worth $9,175,884 in the last quarter. Insiders own 2.32% of the company’s stock.

Analyst Ratings Changes

MATX has been the subject of several analyst reports. Stephens raised their price objective on Matson from $155.00 to $160.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. StockNews.com downgraded shares of Matson from a “strong-buy” rating to a “buy” rating in a research report on Friday, September 6th.

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.