BI Asset Management Fondsmaeglerselskab A S Acquires Shares of 4,054 Matson, Inc. (NYSE:MATX)

BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Matson, Inc. (NYSE:MATX - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 4,054 shares of the shipping company's stock, valued at approximately $547,000.

Several other hedge funds and other institutional investors have also made changes to their positions in MATX. Capital Research Global Investors raised its stake in Matson by 8.3% during the 4th quarter. Capital Research Global Investors now owns 753,414 shares of the shipping company's stock valued at $101,590,000 after acquiring an additional 58,027 shares in the last quarter. First Trust Advisors LP raised its stake in shares of Matson by 21.5% during the fourth quarter. First Trust Advisors LP now owns 663,245 shares of the shipping company's stock valued at $89,432,000 after purchasing an additional 117,545 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Matson by 186.7% during the fourth quarter. Canada Pension Plan Investment Board now owns 4,300 shares of the shipping company's stock valued at $580,000 after purchasing an additional 2,800 shares in the last quarter. Lodge Hill Capital LLC acquired a new stake in Matson in the fourth quarter worth about $1,348,000. Finally, Zacks Investment Management grew its position in Matson by 2.1% in the 4th quarter. Zacks Investment Management now owns 16,199 shares of the shipping company's stock valued at $2,184,000 after buying an additional 335 shares in the last quarter. 84.76% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have commented on the stock. Jefferies Financial Group began coverage on shares of Matson in a research report on Monday. They set a "buy" rating and a $125.00 price target on the stock. Stephens boosted their target price on Matson from $165.00 to $175.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. Finally, Stifel Nicolaus upped their target price on Matson from $150.00 to $160.00 and gave the stock a "hold" rating in a research report on Wednesday, February 26th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Matson has a consensus rating of "Moderate Buy" and a consensus target price of $153.33.

Insider Buying and Selling

In other news, EVP John P. Lauer sold 7,985 shares of Matson stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $134.73, for a total transaction of $1,075,819.05. Following the transaction, the executive vice president now owns 25,192 shares in the company, valued at approximately $3,394,118.16. The trade was a 24.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Richard S. Kinney sold 1,997 shares of the company's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $137.11, for a total value 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. The trade was a 19.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.05% of the stock is currently owned by company insiders.

Matson Price Performance

NYSE:MATX traded up $0.47 during trading hours on Wednesday, reaching $109.44. 624,195 shares of the company's stock were exchanged, compared to its average volume of 309,940. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $3.59 billion, a P/E ratio of 9.10 and a beta of 1.12. Matson, Inc. has a 12 month low of $92.90 and a 12 month high of $169.12. The business's 50-day simple moving average is $120.35 and its two-hundred day simple moving average is $135.93.

Matson (NYSE:MATX - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The shipping company reported $3.80 EPS for the quarter, beating analysts' consensus estimates of $3.20 by $0.60. The company had revenue of $890.30 million during the quarter, compared to the consensus estimate of $851.78 million. Matson had a return on equity of 16.89% and a net margin of 12.37%. Sell-side analysts expect that Matson, Inc. will post 13.27 EPS for the current fiscal year.

Matson Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Thursday, May 8th will be given a $0.34 dividend. The ex-dividend date is Thursday, May 8th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.24%. Matson's dividend payout ratio (DPR) is 9.69%.

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.