Algert Global LLC Buys 35,538 Shares of Matson, Inc. (NYSE:MATX)

Algert Global LLC raised its position in Matson, Inc. (NYSE:MATX - Free Report) by 54.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 100,853 shares of the shipping company's stock after buying an additional 35,538 shares during the period. Algert Global LLC owned 0.30% of Matson worth $13,599,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of MATX. Vanguard Group Inc. lifted its stake in Matson by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 4,025,208 shares of the shipping company's stock valued at $542,759,000 after purchasing an additional 11,357 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Matson by 10.9% in the fourth quarter. American Century Companies Inc. now owns 1,086,932 shares of the shipping company's stock valued at $146,562,000 after buying an additional 106,490 shares during the period. Pacer Advisors Inc. lifted its position in shares of Matson by 9.5% during the 4th quarter. Pacer Advisors Inc. now owns 1,049,772 shares of the shipping company's stock valued at $141,551,000 after buying an additional 91,172 shares during the last quarter. Capital Research Global Investors grew its stake in shares of Matson by 8.3% during the 4th quarter. Capital Research Global Investors now owns 753,414 shares of the shipping company's stock worth $101,590,000 after acquiring an additional 58,027 shares during the period. Finally, First Trust Advisors LP increased its holdings in Matson by 21.5% in the 4th quarter. First Trust Advisors LP now owns 663,245 shares of the shipping company's stock worth $89,432,000 after acquiring an additional 117,545 shares during the last quarter. Hedge funds and other institutional investors own 84.76% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on MATX shares. StockNews.com downgraded shares of Matson from a "buy" rating to a "hold" rating in a report on Wednesday. Stifel Nicolaus dropped their price target on shares of Matson from $160.00 to $130.00 and set a "hold" rating on the stock in a research note on Tuesday. Jefferies Financial Group reissued a "buy" rating and set a $125.00 target price on shares of Matson in a report on Tuesday. Finally, Stephens cut their price target on Matson from $175.00 to $150.00 and set an "overweight" rating for the company in a report on Tuesday. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $135.00.

Insider Transactions at Matson

In other Matson news, EVP John P. Lauer sold 7,985 shares of the company's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $134.73, for a total value of $1,075,819.05. Following the completion of the sale, the executive vice president now owns 25,192 shares of the company's stock, valued at $3,394,118.16. This represents a 24.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Richard S. Kinney sold 1,997 shares of Matson stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $137.11, for a total transaction of $273,808.67. Following the transaction, the senior vice president now directly owns 8,425 shares in the company, valued at $1,155,151.75. This trade represents a 19.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.05% of the company's stock.

Matson Price Performance

Matson stock traded down $2.82 during midday trading on Friday, reaching $96.44. 349,353 shares of the stock were exchanged, compared to its average volume of 408,779. Matson, Inc. has a 52 week low of $91.75 and a 52 week high of $169.12. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.13 and a current ratio of 1.13. The firm has a market cap of $3.17 billion, a PE ratio of 8.02 and a beta of 1.30. The company's fifty day moving average is $115.70 and its 200-day moving average is $134.59.

Matson (NYSE:MATX - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The shipping company reported $2.18 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.34 by ($0.16). Matson had a return on equity of 16.89% and a net margin of 12.37%. The business had revenue of $782.00 million during the quarter, compared to analysts' expectations of $818.07 million. During the same quarter last year, the business posted $1.04 EPS. The company's quarterly revenue was up 8.3% on a year-over-year basis. On average, sell-side analysts forecast that Matson, Inc. will post 13.27 EPS for the current year.

Matson Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Thursday, May 8th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Thursday, May 8th. This represents a $1.36 annualized dividend and a yield of 1.41%. Matson's payout ratio is presently 8.96%.

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.