RK Capital Management LLC Has $12.33 Million Stake in Matson, Inc. (NYSE:MATX)

RK Capital Management LLC lifted its stake in shares of Matson, Inc. (NYSE:MATX) by 19.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 112,490 shares of the shipping company’s stock after buying an additional 18,690 shares during the quarter. Matson comprises approximately 2.6% of RK Capital Management LLC’s investment portfolio, making the stock its 14th largest holding. RK Capital Management LLC’s holdings in Matson were worth $12,329,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. McGlone Suttner Wealth Management Inc. acquired a new stake in Matson in the 4th quarter valued at $26,000. USA Financial Formulas acquired a new stake in Matson in the 4th quarter valued at $26,000. Blue Trust Inc. grew its position in Matson by 109.6% in the 4th quarter. Blue Trust Inc. now owns 415 shares of the shipping company’s stock valued at $45,000 after purchasing an additional 217 shares during the period. Evermay Wealth Management LLC acquired a new stake in Matson in the 4th quarter valued at $66,000. Finally, GAMMA Investing LLC acquired a new stake in Matson in the 4th quarter valued at $89,000. Institutional investors and hedge funds own 84.76% of the company’s stock.

Insider Transactions at Matson

In other news, SVP Richard S. Kinney sold 1,792 shares of Matson stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $115.11, for a total transaction of $206,277.12. Following the sale, the senior vice president now directly owns 9,588 shares in the company, valued at approximately $1,103,674.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP John Warren Sullivan sold 893 shares of the business’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $110.60, for a total value of $98,765.80. Following the sale, the senior vice president now directly owns 13,495 shares in the company, valued at approximately $1,492,547. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Richard S. Kinney sold 1,792 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $115.11, for a total value of $206,277.12. Following the completion of the sale, the senior vice president now owns 9,588 shares in the company, valued at $1,103,674.68. The disclosure for this sale can be found here. Insiders have sold 6,656 shares of company stock worth $746,256 in the last ninety days. Company insiders own 2.32% of the company’s stock.

Wall Street Analysts Forecast Growth

MATX has been the subject of several research reports. StockNews.com downgraded shares of Matson from a “buy” rating to a “hold” rating in a research report on Saturday, May 25th. Stifel Nicolaus lifted their price objective on shares of Matson from $109.00 to $111.00 and gave the stock a “hold” rating in a report on Wednesday, May 1st. Finally, Stephens reaffirmed an “overweight” rating and set a $135.00 price objective on shares of Matson in a report on Friday, May 24th.

Matson Stock Down 1.9 %

MATX traded down $2.39 during mid-day trading on Monday, reaching $125.81. 386,535 shares of the stock were exchanged, compared to its average volume of 262,897. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.97 and a current ratio of 0.97. The stock has a market capitalization of $4.40 billion, a PE ratio of 15.12 and a beta of 1.11. The company has a 50 day moving average price of $112.68 and a two-hundred day moving average price of $110.10. Matson, Inc. has a 1 year low of $70.34 and a 1 year high of $129.46.

Matson (NYSE:MATX) last released its earnings results on Tuesday, April 30th. The shipping company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.05. The company had revenue of $722.10 million for the quarter, compared to analysts’ expectations of $730.44 million. Matson had a return on equity of 12.66% and a net margin of 9.61%. The business’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.94 EPS. As a group, research analysts anticipate that Matson, Inc. will post 8.74 EPS for the current year.

Matson Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 6th. Stockholders of record on Thursday, May 9th will be paid a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date is Wednesday, May 8th. Matson’s payout ratio is 15.09%.

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.