Matson, Inc. (NYSE:MATX) Shares Acquired by D. E. Shaw & Co. Inc.

D. E. Shaw & Co. Inc. lifted its stake in Matson, Inc. (NYSE:MATX - Free Report) by 256.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 104,518 shares of the shipping company's stock after purchasing an additional 75,200 shares during the period. D. E. Shaw & Co. Inc. owned about 0.31% of Matson worth $14,093,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Bessemer Group Inc. raised its position in shares of Matson by 67.7% during the 4th quarter. Bessemer Group Inc. now owns 213 shares of the shipping company's stock worth $29,000 after purchasing an additional 86 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new position in shares of Matson during the fourth quarter worth about $30,000. IFP Advisors Inc acquired a new stake in Matson in the fourth quarter valued at $40,000. Covestor Ltd raised its stake in Matson by 16.3% in the 4th quarter. Covestor Ltd now owns 586 shares of the shipping company's stock valued at $79,000 after purchasing an additional 82 shares during the last quarter. Finally, U S Global Investors Inc. acquired a new stake in Matson during the 4th quarter worth approximately $111,000. Institutional investors own 84.76% of the company's stock.

Matson Price Performance

NYSE:MATX traded up $0.71 on Monday, hitting $115.68. The company had a trading volume of 95,185 shares, compared to its average volume of 338,254. The firm has a 50 day moving average of $113.18 and a two-hundred day moving average of $133.73. Matson, Inc. has a 52 week low of $91.75 and a 52 week high of $169.12. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.14. The stock has a market capitalization of $3.78 billion, a price-to-earnings ratio of 9.58 and a beta of 1.30.

Matson (NYSE:MATX - Get Free Report) last released its earnings results 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). The company had revenue of $782.00 million for the quarter, compared to analyst estimates of $818.07 million. Matson had a net margin of 12.37% and a return on equity of 16.89%. The firm's revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.04 EPS. On average, research analysts anticipate that Matson, Inc. will post 13.27 earnings per share for the current year.

Matson Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend is Thursday, May 8th. Matson's dividend payout ratio is currently 8.96%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Jefferies Financial Group raised their price target on Matson from $125.00 to $135.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. Stephens reduced their price objective 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. StockNews.com cut Matson from a "buy" rating to a "hold" rating in a report on Wednesday, May 7th. Finally, Stifel Nicolaus reduced their price target 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. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $138.33.

Insider Buying and Selling at Matson

In other Matson news, EVP John P. Lauer sold 7,985 shares of the firm's stock in a transaction dated 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 sale, the executive vice president now owns 25,192 shares of the company's stock, valued at $3,394,118.16. This trade represents a 24.07% decrease in their ownership of the stock. 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 1,997 shares of the firm's stock in a transaction dated Thursday, March 6th. The shares were 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 position. The disclosure for this sale can be found here. Insiders have sold 11,682 shares of company stock worth $1,550,551 over the last ninety days. Insiders own 2.05% of the company's stock.

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.