Cubist Systematic Strategies LLC Purchases Shares of 38,512 Matson, Inc. (NYSE:MATX)

Cubist Systematic Strategies LLC purchased a new stake in Matson, Inc. (NYSE:MATX - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 38,512 shares of the shipping company's stock, valued at approximately $5,193,000. Cubist Systematic Strategies LLC owned about 0.12% of Matson as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cetera Investment Advisers boosted its holdings in Matson by 17.0% in the 4th quarter. Cetera Investment Advisers now owns 3,560 shares of the shipping company's stock valued at $480,000 after purchasing an additional 518 shares during the period. Bridgeway Capital Management LLC bought a new stake in Matson in the 4th quarter valued at about $5,340,000. Baird Financial Group Inc. boosted its holdings in Matson by 9.2% in the 4th quarter. Baird Financial Group Inc. now owns 99,201 shares of the shipping company's stock valued at $13,376,000 after purchasing an additional 8,331 shares during the period. Ameriprise Financial Inc. boosted its holdings in Matson by 73.9% in the 4th quarter. Ameriprise Financial Inc. now owns 416,473 shares of the shipping company's stock valued at $56,157,000 after purchasing an additional 177,000 shares during the period. Finally, Algert Global LLC boosted its holdings in Matson by 54.4% in the 4th quarter. Algert Global LLC now owns 100,853 shares of the shipping company's stock valued at $13,599,000 after purchasing an additional 35,538 shares during the period. Institutional investors and hedge funds own 84.76% of the company's stock.

Matson Price Performance

Shares of Matson stock traded down $3.07 on Friday, reaching $96.19. 606,620 shares of the stock were exchanged, compared to its average volume of 324,132. The firm's 50 day moving average is $114.90 and its 200-day moving average is $134.35. Matson, Inc. has a one year low of $91.75 and a one year 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 $3.16 billion, a PE ratio of 8.00 and a beta of 1.30.

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

Matson Announces Dividend

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

Insider Activity at Matson

In related news, EVP John P. Lauer sold 7,985 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $134.73, for a total value of $1,075,819.05. Following the completion of the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Richard S. Kinney sold 1,997 shares of the company's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $137.11, for a total transaction of $273,808.67. Following the completion of the transaction, the senior vice president now owns 8,425 shares of the company's stock, valued at approximately $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. 2.05% of the stock is owned by insiders.

Analyst Ratings Changes

MATX has been the subject of a number of recent research reports. Stifel Nicolaus cut their price objective on shares of Matson from $160.00 to $130.00 and set a "hold" rating for the company in a report on Tuesday, May 6th. StockNews.com downgraded shares of Matson from a "buy" rating to a "hold" rating in a report on Wednesday. Stephens cut their price target on shares of Matson from $175.00 to $150.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. Finally, Jefferies Financial Group reaffirmed a "buy" rating and set a $125.00 price target on shares of Matson in a report on Tuesday, May 6th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $135.00.

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.